Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    3375 South Airport Rd Traverse City, MI 49684
    Property profile & analytics

    3375 South Airport Rd, Traverse City, MI 49684

    View on Map
    • Neighborhood centers
    • 5,903 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Aspen Dental - Traverse City, MI / Dental Office
    • Motto Clear Aligners / Dental Office
    • Emad Mohammed / Dental Office
    • Dugan Julie a DDS / Dental Office
    • Tawfiq Alkilani / Dental Office

    Property Details for 3375 South Airport Rd

    Property type
    Neighborhood centers
    Property subtype
    Retail properties & Spaces

    Description

    This exceptional 5,903 square foot retail strip center in Traverse City, MI (49684), offers a prime leasing opportunity. Located at 3375 W South Airport Rd, the property sits on a 1.41-acre lot and features a contemporary design with ample parking. Currently, 5,453 square feet is available for lease, presenting a significant opportunity for a single tenant or multiple smaller businesses. The property boasts high visibility and is situated in a bustling commercial district, ensuring excellent exposure to potential customers. The spacious layout and modern amenities provide a versatile space ideal for creating an attractive and functional retail environment. This location offers businesses the chance to thrive in a dynamic and prosperous area of Traverse City, benefiting from high foot traffic and a strong local economy. The available space is perfect for retailers seeking a prominent presence in a thriving commercial hub. Don't miss this chance to secure a highly visible and well-located retail space in a desirable Michigan market. The property's strategic positioning and modern design make it an attractive option for businesses looking to establish a strong foothold in Traverse City. One space of 450 sq ft is also available.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Traverse City
    County
    Grand Traverse
    State
    Michigan
    Longitude
    -85.6438
    Latitude
    44.7223

    Comparable in this City

    • Value Estimation by Request
      14,777 SF

      2016 South Airport Rd

      Lifestyle centers
      2016 South Airport Rd, Traverse City, MI 49684
      View Details
    • Value Estimation by Request
      14,670 SF

      1525 Division St

      SHOPPING CENTER, STRIP CENTER
      1525 Division St, Traverse City, MI 49684-4055
      View Details
    • Value Estimation by Request
      5,500 SF

      535 14th St

      SHOPPING CENTER, STRIP CENTER
      535 14th St, Traverse City, MI 49684-4042
      View Details
    • Value Estimation by Request
      6,747 SF

      507 Frnt St

      SHOPPING CENTER, STRIP CENTER
      507 Frnt St, Traverse City, MI 49684-2207
      View Details
    • Value Estimation by Request
      6,720 SF

      525 Frnt St

      SHOPPING CENTER, STRIP CENTER
      525 Frnt St, Traverse City, MI 49684-2002
      View Details
    • Value Estimation by Request
      9,362 SF

      2770 Silver Lk Rd

      SHOPPING CENTER, STRIP CENTER
      2770 Silver Lk Rd, Traverse City, MI 49684-7467
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      9,045 SF

      Iconic Wurzburg Building For Sale

      Mixed-use building in downtown Traverse City with commercial/residential zoning.
      118 E Front St, Traverse City, MI 49684
      View Details
    • Contact for pricing

      Retail Center on Bustling Corridor

      Shopping center drawing customers from a 22-county area.
      3315-3333 S Us Highway 31, Traverse City, MI 49684
      View Details
    • Contact for pricing
      18,454 SF

      Iconic Warehouse MRKT Building

      Thriving Traverse City marketplace with multi-tenant rental model.
      144 Hall St, Traverse City, MI 49684
      View Details

    Similar Nearby for Lease

    • $22 SF/Yr
      2,034 SF

      Downtown Traverse City Retail/Office Condo

      2,034 SF commercial condo in the heart of Traverse City.
      232 E State St, Traverse City, MI 49684
      View Details
    • Contact for pricing

      Retail Space For Rent

      Retail space available for lease in Traverse City, Michigan.
      1319 S Division St, Traverse City, MI 49684
      View Details
    • $24 SF/Yr
      2,971 SF

      Downtown Traverse City Retail Condo

      Retail condo in downtown Traverse City, completion scheduled for June 2026.
      137 Pine St, Traverse City, MI 49684
      View Details
    • $2,500 /Mo

      Retail Space on US-31 South

      Commercial space in high-traffic area near Grand Traverse Mall.
      2751 N Us Highway 31 S, Traverse City, MI 49684
      View Details
    • Contact for pricing

      Retail Space in Traverse City

      Retail space in a vibrant and growing Traverse City community.
      3375 South Airport Rd, Traverse City, MI 49684
      View Details
    • $24 SF/Yr
      2,578 SF

      Retail Condo in Downtown Traverse

      2,578 SF retail condo in prime Traverse City location.
      141 W Front St, Traverse City, MI 49684
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3375 South Airport Rd
    Traverse City, MI 49684
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    3375 South Airport Rd, Traverse City, MI, 49684
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!