130 S Union St, Traverse City, MI 49684
For Lease
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This exceptional three-story office building, totaling 15,540 square feet, is situated in Traverse City's central business district, just blocks from Lake Michigan. Built in 2007, this Class B property offers multiple tenancy options, with a minimum divisible space of 5,000 square feet. The building features a mix of private offices, spacious open work areas, boardrooms, conference rooms, and kitchenettes on each floor, along with restrooms. Conveniently located at the northwest corner of Union and State Streets, parking is available through a combination of on-street, private on-site, and city surface lot permit parking. The property is zoned Commercial C-4c and has a 0.15-acre lot size (APN: 28-51-794-010-20). The building includes elevators for easy access to all three floors. This offering presents a sublease opportunity, expiring February 29, 2028, with tenants responsible for all utilities paid directly to providers. This is an excellent opportunity for businesses seeking a prominent location in a thriving downtown area.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.