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Financial
Distress signals
Property profile

125 S Park St Traverse City, MI 49684

FOR LEASE
Office buildings
Property ID
US43-2392430
24,640 SF 0.18 ac lot Built 2004
Entity Owned Owner of record is a legal entity (LLC / corporation). Free & Clear No active or open recorded mortgage detected.
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Property summary

AI-generated overview

This exceptional 2,121-square-foot executive office suite, located in the heart of Traverse City's downtown at the corner of Park and State Streets, offers a Class A office space in a highly visible and convenient location. Built in 2004, this second-floor suite is directly across from the Park Place Hotel and adjacent to the Hardy Parking Deck, with reserved parking spaces potentially available. The modified gross lease rate includes all expenses except electricity, eliminating additional…

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. In the full report.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with the full report.

Debts

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — in the full report.

Property tax · 2023

What does the county charge?
$123k
Tax billed · 2023
Assessed value$2.49M
Effective rate4.94%

Value estimate

· Oct 2026No data for this section
What is it worth?

No value estimate could be modeled: the record carries too little market input for this parcel.

Recently sold

No data for this section
What actually traded nearby?

No cleaned sale $/SF benchmark exists for this use type in this ZIP, submarket or county yet.

Cap rate analysis

How does the asset earn?
56,685.71%
$16k estimated NOI · market benchmarks for this use type

Price anchors at 6 / 6.5 / 7% — in the full report.

Zoning insight

No data for this section
What can be built here?

No zoning code is on file for this parcel. Coverage grows with every catalog release.

JurisdictionGRAND TRAVERSE

Location intelligence

Which uses thrive at this corner?
Best fit: Auto Repair Shop
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Auto Repair Shop15.9
Wholesale Shop15.0
Auto Parts Store14.9

Location

125 S Park St Traverse City, MI 49684
County assessor Recorded deeds · not on file Qualifying comp sales · not on file Zoning catalog · not on file

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

1 recorded sale · 15 properties nearby
Recent sales nearby
1 recorded sale in this ZIP, last 8 years
Address Sale price Sold Size
515 Bay, Traverse City, MI 49684-2250 $790,000 Jan 2024 2,203 SF
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby
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Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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