Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1501 Cass St Traverse City, MI 49684-4157

    • Flex space
    • 21,386 SF
    • 1.89 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-1949264
    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

    • Precious Moments HD 4D 3D Elective Ultrasound / Medical Diagnostic Imaging Center
    • Traverse Tax & Accounting / Tax Consultant / Tax Preparation
    • PharmaLogic / Pharmacy
    • The Running Wise Law Firm: Ford, Conlon, Gerberding & Grier / Attorney
    • USDA Farm Service Agency (FSA) Service Center / Federal Government Office

    Property Details for 1501 Cass St

    Year built
    1959
    Lot size
    1.89 lot acres
    Property size
    21,386 SF
    Property type
    Flex space
    APN
    51-110-020-00
    APU
    5111002000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Traverse City
    County
    Grand Traverse
    State
    Michigan
    Longitude
    -85.6198
    Latitude
    44.7476
    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
    $36,930
    $0.00
    $0.00
    $783,100
    -
    $0.00
    $0.00
    $1,718,720

    Comparable in this City

    • Value Estimation by Request
      4,800 SF

      2427 Rice St

      LIGHT INDUSTRIAL • 4,800 SF
      2427 Rice St, Traverse City, MI 49684-8854
      View Details
    • Value Estimation by Request
      9,317 SF

      2040 Cass Rd

      LIGHT INDUSTRIAL • 9,317 SF
      2040 Cass Rd, Traverse City, MI 49684-8839
      View Details
    • Value Estimation by Request
      16,080 SF

      2464 Cass Rd

      LIGHT INDUSTRIAL • 16,080 SF
      2464 Cass Rd, Traverse City, MI 49684-9148
      View Details
    • Value Estimation by Request
      9,600 SF

      2780 Cass Rd

      LIGHT INDUSTRIAL • 9,600 SF
      2780 Cass Rd, Traverse City, MI 49684-7860
      View Details
    • Value Estimation by Request
      9,600 SF

      5744 Denali Dr

      LIGHT INDUSTRIAL • 9,600 SF
      5744 Denali Dr, Traverse City, MI 49684-8451
      View Details
    • Value Estimation by Request
      17,450 SF

      3031 Cass Rd

      LIGHT INDUSTRIAL • 17,450 SF
      3031 Cass Rd, Traverse City, MI 49684-8849
      View Details

    Similar Nearby for Sale

    • $829,000

      West Side Commercial Building

      9,000 sq ft commercial building in a light industrial park.
      5760 Denali Dr, Traverse City, MI 49684
      View Details
    • $1,350,000
      3,500 SF

      Downtown Traverse City Development Parcel

      Development parcel in Downtown Traverse City with flexible commercial zoning.
      120 Park St, Traverse City, MI 49684
      View Details
    • $159,000
      1,218 SF

      Traverse City Storage Condo

      Modern 1,218 sq ft storage unit, heated.
      8597 Bingham Rd, Traverse City, MI 49684
      View Details
    • $114,900
      800 SF

      Traverse City Storage Condo

      800 sqft storage condo in Traverse City, Michigan.
      13972 S Robinson Rd, Traverse City, MI 49684
      View Details
    • $114,900
      800 SF

      Traverse City Storage Condo

      800 sqft storage condo with 14ft garage door.
      13972 S Robinson Rd, Traverse City, MI 49684
      View Details
    • $2,980,000
      31,365 SF

      Cass Road Commercial Property

      31,365 SF Mixed-Use Investment
      3055 Cass Rd, Traverse City, MI 49684
      View Details

    Similar Nearby for Lease

    • $17 SF/Yr
      31,356 SF

      Traverse City Office & Warehouse

      Multiple suites, ample parking, central AC.
      3055 Cass Rd, Traverse City, MI 49684
      View Details
    • $10 SF/Yr
      1,458 SF

      Traverse City Industrial/Office Space

      Affordable industrial and office space centrally located in Traverse City.
      2419 Sybrandt Rd, Traverse City, MI 49684
      View Details
    • $7 SF/Yr
      5,000 SF

      High-Visibility Commercial Property For Rent

      Commercial property in Elmwood Township, ideal for retail or storage.
      10660 E Carter Rd, Traverse City, MI 49684
      View Details
    • Contact for pricing
      5,903 SF

      Traverse City Retail Strip Center

      High-Visibility Retail Space Available
      3375 South Airport Rd, Traverse City, MI 49684
      View Details
    • $2,962 /Mo

      New Traverse City Townhomes

      Modern 2-3 bedroom townhomes with upscale amenities near downtown.
      6028 Traverse Edge Way, Traverse City, MI 49684
      View Details
    • $2,500 /Mo
      2,705 SF

      Traverse City Commercial Space For Rent

      Commercial space available in high-traffic Traverse City location.
      2751 N Us-31 S, Traverse City, MI 49684
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1501 Cass St
    Traverse City, MI 49684-4157
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.