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    FOR LEASE
    Office buildings

    130 S Union St, Traverse City, MI 49684

    15,540 SF 0.15 ac lot Built 2007
    Entity Owned Absentee Owner Free & Clear
    Property ID
    US43-0754325
    Property summary
    AI-generated overview

    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.

    Property profile
    Verified
    Property type Office buildings
    Use group OFFICE BUILDING
    Year built 2007
    Total area 15,540 SF
    Lot 0.15 ac (6,403 SF)
    APN 51-794-010-20
    UPID US43-0754325
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Value estimations
    Realmo proprietary · 4 methods
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    Owner & transaction history
    BON BUILDING LLC
    BON BUILDING LLC
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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    More about this property
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