Flex Space with Overhead
For Sale
$550,000
876 Robinwood Court, Traverse City, MI 49686
The office and warehouse areas have month-to-month tenants who may continue occupancy if the buyer needs only part of the space.
Property Size4,568 SF
Price / SF$120.40
Days on Market117
Property Features for 876 Robinwood Court
General Information
Standard status
Active
Size
4,568 SF
Property subtype
Commercial
Zoning
Commercial
Warehouse & Industrial
Warehouse Space
3,584 SF
Office Build-Out
984 SF
Voltage
220 V
Additional Details
Utilities to Site
Yes
Tenant in Place
Yes
Property Use
Office/Warehouse
Building Details
Building Size
4,568 SF
Year Built
1985
Tenancy
Multi
Listing Agency:
Three West, LLC
(231) 929-2955
Listed By:
Bill Somerville · License #6501400610
(231) 620-2128
Source:
Housewant
Added: Jul 6
Changed: Oct 27
Last Checked: Oct 26 at 6:29PM
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
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Investment Insights
Based on property information with market context.
This flex property combines 984 square feet of office space across two areas with 3,584 square feet in three adjoining warehouse sections. Each warehouse section has an overhead door. The building also includes four restrooms, one with a shower, 220V power, and multiple water connection points.
Zoned General Mixed-Use Industrial Business (I-G), the property permits a range of uses, including live/work. Existing tenant leases are month-to-month, and tenants are willing to extend their occupancy if a buyer does not require the full space.
Zoned General Mixed-Use Industrial Business (I-G), the property permits a range of uses, including live/work. Existing tenant leases are month-to-month, and tenants are willing to extend their occupancy if a buyer does not require the full space.
Key Highlights
- 4,568 square feet total, including 984 square feet of office space and 3,584 square feet of warehouse space
- Three adjoining warehouse areas, each with an overhead door
- Four restrooms, including one with a shower
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,054
Cap Rate
8.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$941,080
$941.1K
Cap Rate 7%
$672,200
$672.2K
Cap Rate 9%
$522,822
$522.8K
Market Conditions
NOI Build-Up for 4,568 SF
Gross rent
$77.8K $17.04/SF
− Vacancy
−$5.4K −$1.19/SF
EGI
$72.4K $15.85/SF
− OpEx
−$25.3K −$5.55/SF
NOI
$47.1K $10.30/SF
Area
Grand Traverse County, MI
Vacancy
7.00%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$941,080
Cap Rate 7%
$672,200
Cap Rate 9%
$522,822
Alternative Uses
Best Use
Flex RnD
$672.2K
$588.2K – $784.2K
NOI $47,054 @ 7.0% cap · market cap 8.56%
Second Best
Warehouse
$519.3K
$454.4K – $605.9K
NOI $36,352 @ 7.0% cap · market cap 6.61%
Theoretical Best
Office A
$992.3K
$868.3K – $1.16M
NOI $69,463 @ 7.0% cap · market cap 12.63%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
810
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 49686, MI
25,859
Population
13,261
Households
2
Avg Household Size
45
Median Age
46%
College-Educated
95%
High-School Grad
47.3 sq mi
ZIP Area
547
Density / Sq Mi
$71,198
Median Household Income
$40,373
Median Earnings
$1,209
Median Rent
$295,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
Similar Off Market Nearby
- west bay catering — 767 A Duell Rd, Traverse City, MI 49686
- Grandview Catering — 1249 Woodmere Ave, Traverse City, MI 49686
Frequently Asked Questions
What type of property is this?
Flex space - The office and warehouse areas have month-to-month tenants who may continue occupancy if the buyer needs only part of the space.
Where is this flex space located?
The property is located at 876 Robinwood Court Traverse City, MI.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 4,568 square feet total, including 984 square feet of office space and 3,584 square feet of warehouse space; Three adjoining warehouse areas, each with an overhead door; Four restrooms, including one with a shower
