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    Property profile & analytics

    8597 Bingham Rd Traverse City, MI 49684

    • Commercial real estate
    For Sale
    View listing
    $159,000
    Value Estimation
    Location Intelligence
    Property ID
    US43-2000835
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 8597 Bingham Rd

    Property type
    Commercial real estate
    APN
    001-595-003-00
    APU
    159500300

    Description

    This exceptional 1,218-square-foot commercial storage condo, built in 2022, presents a fantastic investment opportunity in Traverse City, Michigan's scenic Leelanau County. Located at 8597 E Bingham Rd, Unit 5, this single-story unit boasts a spacious layout (20' x 57') with an impressive 20-foot ceiling height and modern LED lighting. The unit features a large 16-foot wide by 18-foot high overhead door, providing easy access for a variety of storage needs. A natural gas ceiling-mounted heating unit ensures year-round comfort. The property is zoned for commercial use and includes the convenience of on-site boat and RV concierge and maintenance services. The asking price is $159,000, translating to $130.54 per square foot. The property's APN is 001-595-005-00 and is situated in a prime location within the 49684 zip code. This secure unit offers a blend of functionality and accessibility, making it an ideal investment for various storage-related businesses or individual needs. The property is a self-storage condo.

    Value Estimation

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Traverse City
    County
    Leelanau
    State
    Michigan
    Longitude
    -85.6825
    Latitude
    44.8788
    CBSA code
    45900
    CBSA name
    TRAVERSE CITY, MI MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $1,266
    $0.00
    $0.00
    $62,500
    -
    $0.00
    $0.00
    $125,000

    Comparable in this City

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      8597 Bingham Rd

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      COMMERCIAL (GENERAL) • 0.69 Acres
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      0.02 Acres

      13972 Robinson Rd, Unit 12

      COMMERCIAL CONDOMINUIM • 0.02 Acres
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    8597 Bingham Rd
    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
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