1764 Forest Ridge DrTraverse City, MI 49686

Property Details for 1764 Forest Ridge Dr

Year built

1999

Lot size

1.30 AC

Property size (Sq ft)

4,992 SF

Property type

Office properties

Property subtype

Office buildings

APN

05-014-109-06

APU

501410906

Description

This exceptional 5,300 square foot commercial office space is ideally situated in Traverse City, Michigan, just off S. Airport Road, offering a tranquil wooded setting while remaining conveniently close to downtown, shopping malls, and numerous restaurants. The property, located at 1764 Forest Ridge Dr, Grand Traverse County, boasts a single suite with multiple tenancies, perfect for a variety of business needs. The building features nine private offices, providing ample space for individual work or team collaboration. A dedicated conference room facilitates meetings and presentations, while a welcoming reception area ensures a professional first impression. A convenient kitchenette adds to the functionality of the space, and two large open work areas offer flexibility for various team configurations. The property also includes abundant parking for employees and clients. Adding to the practicality, a sizable crawl space with cement flooring provides substantial storage capacity. This property presents a unique opportunity to establish a thriving business in a desirable location with exceptional amenities. The property is located in a convenient location, less than 10 minutes from downtown Traverse City, offering easy access to a variety of amenities and services. The zip code is 49686.

• CAP approach

  CAP return

  Valuation

  6%

  $911,753

  6.5%

  $841,618

  7%

  $781,503

• Comparable approach

  Method

  Valuation

  Relative Method

  $650,208

  Geo Method

  $650,208

• Alternative Use

  Use

  Valuation

  Residential

  $1,043,607

  Hospitality

  $955,938

  Educational

  $795,329

  Medical

  $822,682

  Retail

  $1,237,179

Location Insight

City

Traverse City

County

Grand Traverse

State

Michigan

Latitude

44.7356

Longitude

-85.6117

CBSA code

45900

CBSA name

TRAVERSE CITY, MI MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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