High-Clearance Warehouse
New
For Sale
$145,000
8597 E Bingham Rd, Traverse City, MI 49684
Heated storage unit with LED lighting, a wide overhead door, and on-site boat and RV services.
Property Size1,218 SF
Price / SF$119.05
Days on Market5
Property Features for 8597 E Bingham Rd
General Information
Standard status
Active
Size
1,218 SF
Property subtype
Commercial
Additional Details
Clear Height
20 ft
Amenities
boat and RV concierge
maintenance services
Building Details
Year Built
2022
Construction
cold-formed steel
Listing Agency:
Three West, LLC
(231) 642-6300
Listed By:
David Coonrod · License #6501426180
(231) 642-6300
Source:
Elliman
Added: Aug 1
Changed: Aug 2
Last Checked: Aug 5 at 10:45AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Three West, LLC
Investment Insights
Based on property information with market context.
Built in 2022, this 1,218-square-foot warehouse condominium unit combines a cold-formed steel structure with practical storage improvements. The interior measures approximately 20 feet by 57 feet and includes a 20-foot ceiling, an 18-foot-high overhead door measuring 16 feet wide, modern LED lighting, and a ceiling-mounted natural gas heating unit.
The property is located at 8597 E Bingham Rd in Bingham Township, Leelanau County, Michigan. On-site services support boat and RV owners with indoor and outdoor storage, winterizing, shrink-wrapping, and boat maintenance. The property has a Bike Score of 18 and a Walk Score of 2, reflecting a car-dependent setting.
The property is located at 8597 E Bingham Rd in Bingham Township, Leelanau County, Michigan. On-site services support boat and RV owners with indoor and outdoor storage, winterizing, shrink-wrapping, and boat maintenance. The property has a Bike Score of 18 and a Walk Score of 2, reflecting a car-dependent setting.
Key Highlights
- 1,218‑square‑foot warehouse condominium unit built in 2022
- 20‑foot ceiling with an 18‑foot‑high overhead door spanning 16 feet wide
- 20‑foot by 57‑foot interior floor dimensions
Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $12.1k | $9.96 |
| − Vacancy | −$728 | −$0.60 |
| EGI | $11.4k | $9.36 |
| − OpEx | −$1.7k | −$1.40 |
| NOI | $9.7k | $7.96 |
1,218 SF · lease $9.96/SF/yr · vacancy 6.00% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$138.5K
$121.2K – $161.6K
NOI $9,693 @ 7.0% cap · market cap 6.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$264.6K
$231.5K – $308.7K
NOI $18,521 @ 7.0% cap · market cap 12.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
20 ft
Clear height
Location Intelligence
Trade Area within ½ mile
21
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49684, MI
22,025
Population
10,959
Households
2
Avg Household Size
49
Median Age
46%
College-Educated
96%
High-School Grad
52.8 sq mi
ZIP Area
417
Density / Sq Mi
$75,678
Median Household Income
$39,553
Median Earnings
$1,216
Median Rent
$375,700
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Leelanau Storage Space — 8700 E Bingham Rd, Traverse City, MI 49684
- Bingham Storage — 8810 E Bingham Rd, Traverse City, MI 49684
Frequently Asked Questions
What type of property is this?
Warehouse - Heated storage unit with LED lighting, a wide overhead door, and on-site boat and RV services.
Where is this warehouse located?
The property is located at 8597 E Bingham Rd Traverse City, MI.
What is the asking price?
The asking price for this property is $145,000.
What are key features of this property?
This property features: 1,218‑square‑foot warehouse condominium unit built in 2022; 20‑foot ceiling with an 18‑foot‑high overhead door spanning 16 feet wide; 20‑foot by 57‑foot interior floor dimensions
