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    607 Randolph St Traverse City, MI 49684

    Sponsored
    For Sale
    $502,230

    1,768 SF Office, Fully Leased

    Property size:
    1,768 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 1,768-square-foot office space, located at 607 Randolph St, Unit 101, Traverse City, MI 49684, presents a compelling investment opportunity. Built in 2015, this Class A property boasts a contemporary design and modern functionality, perfectly suited for executive, medical, or traditional office uses. Currently 100% occupied, the tenant's initial lease expires in March 2026, with two three-year renewal options, ensuring long-term stability. The property features abundant natural light from large windows and is conveniently situated near West Grand Traverse Bay and downtown Traverse City. Zoned Commercial C-2, this turnkey investment offers a high-performing asset in a desirable location. The asking price is $502,230, and the property's APN is 28-51-628-001-00. This fully leased investment provides immediate cash flow and significant potential for future appreciation. The property's prime location and modern amenities make it an attractive option for a variety of businesses. Don't miss this chance to acquire a high-quality, income-producing asset in a thriving market.

    Property Features for 607 Randolph St

    General Information

    Property type
    Medical offices
    Square Feet
    1,768 SF

    Building Details

    Year Built
    2015

    HighLights

    • 1,768 SF Class A office space, 607 Randolph St, Unit 101, Traverse City, MI 49684. Built in 2015.
    • Fully leased investment with a March 2026 lease expiration and two 3‑year renewal options.
    • Abundant natural light and prime location near West Grand Traverse Bay and downtown Traverse City.
    • Zoned Commercial C‑2. Asking price: $502,230, APN: 28‑51‑628‑001‑00.
    Property Profile Location Intelligence

    Current Use by Public Records

    Salon.231 Hair Salon RENUE Wellness IV ... Wellness Center Fringe Photography, LLC Photography Studio

    Suggested Use

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

    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
    -85.633357734731
    Latitude
    44.767400477253

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    FAQs

    What type of property is this?
    Medical office - 1,768 SF Office, Fully Leased
    Where is this medical office located?
    The property is located at 607 Randolph St Traverse City, MI.
    What is the asking price?
    The asking price for this property is $502,230.
    What are key features of this property?
    This property features: 1,768 SF Class A office space, 607 Randolph St, Unit 101, Traverse City, MI 49684. Built in 2015.; Fully leased investment with a March 2026 lease expiration and two 3-year renewal options.; Abundant natural light and prime location near West Grand Traverse Bay and downtown Traverse City.
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    607 Randolph St Traverse City, MI 49684
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    Traverse City, MI 49684
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    607 Randolph St Traverse City, MI 49684
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