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3055 Cass Rd Traverse City, MI 49684

Sponsored
For Sale
$2,980,000

31,365 SF Mixed-Use Investment

Property size:
31,365 SF

Description

Added:
Dec 11, 2024
Days on Market:
392
This exceptional investment opportunity presents a 31,365 square foot mixed-use property located at 3055 Cass Rd, Traverse City, MI 49684. The property, situated on a generous 6.31-acre lot, boasts 339 feet of direct frontage on Cass Road, providing excellent visibility and accessibility. The building currently generates strong income from a blend of office and industrial tenants, with approximately 60% dedicated to office space. Features include two truck docks, five additional overhead doors, a metal roof, a large paved and fenced parking lot, central air conditioning, and 3-phase power. The property is zoned commercial and offers significant potential for expansion or the addition of further buildings. The current capitalization rate, even considering a 10% vacancy and management allowance, is approximately 10.9%. A $200,000 investment in improvements would still yield a 10% return. This is a prime opportunity for investors seeking a strong return in a desirable location. The property's ample size and versatile layout make it ideal for a variety of uses. The asking price is $2,980,000, translating to $95.01 per square foot. This multi-tenant property is offered with a modified lease type. The property's APN is 05-015-038-00.

Property Features for 3055 Cass Rd

General Information

Property type
Distribution properties
Square Feet
31,365 SF
Lot Size
274,864 SF

HighLights

  • 31,365 SF mixed‑use building on a 6.31‑acre lot in Traverse City, MI.
  • Excellent visibility with 339 feet of Cass Road frontage.
  • Strong income from a mix of office and industrial tenants (approx. 60% office).
  • Features include two truck docks, five overhead doors, metal roof, ample paved & fenced parking, central AC, and 3‑phase power.
  • Commercial zoning allows for expansion; $2,980,000 asking price ($95.01/SF); 10.9% cap rate (even with 10% vacancy & management allowance).
Property Profile Location Intelligence

Current Use by Public Records

Kyle Konas Chiropractor Timeless Window Cleaning Window Cleaning Service Nationwide Ignition Interlock Safety Equipment Supplier Great Lakes Express ... Courier Service 3dot Cycle Motorcycle Shop

Suggested Use

Restaurant Realty agency Law Firm Dental Office Spa & Massage Building Supply Wholesale Shop Hair Salon Auto Repair Shop Nail Salon

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

  • Map
  • Local Demand
City
Traverse City
County
Grand Traverse
State
Michigan
Longitude
-85.625821905074
Latitude
44.731441021478

FAQs

What type of property is this?
Distribution property - 31,365 SF Mixed-Use Investment
Where is this distribution property located?
The property is located at 3055 Cass Rd Traverse City, MI.
What is the asking price?
The asking price for this property is $2,980,000.
What are key features of this property?
This property features: 31,365 SF mixed-use building on a 6.31-acre lot in Traverse City, MI.; Excellent visibility with 339 feet of Cass Road frontage.; Strong income from a mix of office and industrial tenants (approx. 60% office).
More about this property
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