Commercial Land with Pole
8967 E Bingham Rd Traverse City, MI 49684
8967 E Bingham Rd, Traverse City, MI, 49684
$295,000
Pending
For Sale
$295,000
Pending
Commercially zoned corner parcel with a 1,200 SF pole building and a level area along Bingham Road.
Property Size1,200 SF
Lot Size2.00 Acres
Days on Market51
Property Features for 8967 E Bingham Rd
General Information
- Standard status
- Pending
- Size
- 1,200 SF
- Lot size
- 2.00 Acres
- Property subtype
- Land
Listing agency
Coldwell Banker Schmidt-Leland
(231) 642-7117
Listed by
Carolyn Telgard
(231) 642-7117
Source
Exprealty
Added: Jun 1 Updated: Jul 21 at 6:46AM Checked: Jul 21 at 6:46AM
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 Coldwell Banker Schmidt-Leland
Investment Insights
Based on property information with market context.
This commercially zoned corner parcel offers two distinct land areas, including an elevated hillside to the north and a clear, level section along Bingham Road. Current improvements include a 1,200 SF pole building, along with a private well and septic field from a prior residential use.
The property is located near the Bingham Bridge and provides close proximity to the TART trail, with two trail-to-road crossings within 1,000 feet. It also features expansive road frontage, including approximately 360 feet along Center Highway and over 190 feet along Bingham Road, which functions as a key east/west connector between the South Lake Leelanau DNR boat launch and Boughey Township Park on West Bay.
For buyers evaluating storage, yard, or light commercial uses, the combination of road frontage, varied topography, and an existing pole building provides a practical starting point on this nearly two-acre site.
The property is located near the Bingham Bridge and provides close proximity to the TART trail, with two trail-to-road crossings within 1,000 feet. It also features expansive road frontage, including approximately 360 feet along Center Highway and over 190 feet along Bingham Road, which functions as a key east/west connector between the South Lake Leelanau DNR boat launch and Boughey Township Park on West Bay.
For buyers evaluating storage, yard, or light commercial uses, the combination of road frontage, varied topography, and an existing pole building provides a practical starting point on this nearly two-acre site.
Key Highlights
- Commercially zoned corner parcel near Bingham Bridge and the TART trail
- Nearly 2‑acre site with about 360 ft of road frontage on Center Highway and over 190 ft on Bingham Road
- Two TART trail‑to‑road crossings are within 1,000 ft of the property
Local 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 | $12.0k | $9.96 |
| − Vacancy | −$717 | −$0.60 |
| EGI | $11.2k | $9.36 |
| − OpEx | −$1.7k | −$1.40 |
| NOI | $9.5k | $7.96 |
1,200 SF · lease $9.96/SF/yr · vacancy 6.00% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$136.4K
$119.4K – $159.2K
NOI $9,550 @ 7.0% cap · market cap 3.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$260.7K
$228.1K – $304.1K
NOI $18,248 @ 7.0% cap · market cap 6.19%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Commercial land
Similar For Sale Nearby
FAQs
What type of property is this?
Commercial land - Commercially zoned corner parcel with a 1,200 SF pole building and a level area along Bingham Road.
Where is this commercial land located?
The property is located at 8967 E Bingham Rd Traverse City, MI.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Commercially zoned corner parcel near Bingham Bridge and the TART trail; Nearly 2‑acre site with about 360 ft of road frontage on Center Highway and over 190 ft on Bingham Road; Two TART trail‑to‑road crossings are within 1,000 ft of the property
