Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1517 Northern Star Dr Traverse City, MI 49696-8837
    Back to Search
    Property profile & analytics

    1517 Northern Star Dr, Traverse City, MI 49696-8837

    View on Map
    • Industrial properties
    • 7,808 SF
    • 0.78 lot acres
    Off-Market
    Property ID
    US43-2308072
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Photodon / Industrial Manufacturer / Production Facility
    • Collar Clinic e-Collars / Animal Training

    Property Details for 1517 Northern Star Dr

    Year built
    2000
    Lot size
    0.78 lot acres
    Property type
    Industrial properties
    APN
    05-127-008-00
    APU
    512700800

    Description

    This exceptional commercial property, located at 1517 Northern Star Dr, Traverse City, MI 49696, offers 2,350 square feet of versatile space ideal for a variety of businesses. The property is classified as both office and industrial, featuring a traditional office layout combined with warehouse functionality. Situated near Birmley Rd, this multi-tenant building provides convenient access and ample space for operations. The suite is currently vacant and ready for immediate occupancy. The space is well-suited for businesses requiring a blend of office and storage or production areas. While there are no elevators in the building, the layout is designed for efficient workflow. This presents a unique opportunity for businesses seeking a functional and strategically located space in the thriving Traverse City market. The property's address is easily accessible and offers excellent visibility. The combined office and warehouse space provides flexibility for various business needs, making it an attractive option for companies seeking a cost-effective solution. This is a prime opportunity to establish or expand your business in a desirable location. Contact us today to schedule a viewing.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Traverse City
    County
    Grand Traverse
    State
    Michigan
    Longitude
    -85.6003
    Latitude
    44.7085
    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
    $18,450
    $0.00
    $0.00
    $379,500
    -
    $0.00
    $0.00
    $1,063,322

    Comparable in this City

    • Value Estimation by Request
      14,800 SF

      1746 Keane Dr

      INDUSTRIAL (GENERAL)
      1746 Keane Dr, Traverse City, MI 49696-8257
      View Details
    • Value Estimation by Request
      8,442 SF

      110 High Lk Rd

      INDUSTRIAL (GENERAL)
      110 High Lk Rd, Traverse City, MI 49696-8136
      View Details
    • Value Estimation by Request
      77.00 Acres

      Traverse City, MI 49696

      INDUSTRIAL (GENERAL)
      Traverse City, MI 49696
      View Details
    • Value Estimation by Request
      7,328 SF

      1565 Northern Star Dr

      INDUSTRIAL LOFT BUILDING
      1565 Northern Star Dr, Traverse City, MI 49696-9243
      View Details
    • Value Estimation by Request
      680 SF

      500 Keystone Rd

      INDUSTRIAL (GENERAL)
      500 Keystone Rd, Traverse City, MI 49696-8822
      View Details
    • Value Estimation by Request
      196 SF

      801 Rusch Rd

      INDUSTRIAL (GENERAL)
      801 Rusch Rd, Traverse City, MI 49696-8530
      View Details

    Similar Nearby for Sale

    • $2,050,000
      33,186 SF

      Traverse City Industrial Building on Acres

      Industrial building with expansion potential on 7.16 acres.
      1621 Keane Dr, Traverse City, MI 49696
      View Details
    • $2,050,000

      Industrial Manufacturing Building with Docks

      Manufacturing-ready facility with heavy power, two dock levelers, and flexible production-to-office ceiling heights.
      1621 Keane Dr, Traverse City, MI 49696
      View Details
    • $149,900
      1.80 Acres

      Traverse City Building Site

      1.8-acre building site near East Bay in Traverse City.
      1.8+/- Acres Smith Rd, Traverse City, MI 49696
      View Details
    • $849,000

      Updated Four-Unit Multifamily Property

      Four-unit property near Timber Ridge with recent updates.
      1627 Rasho Rd, Traverse City, MI 49696
      View Details
    • Contact for pricing

      Development Ready Opportunity For Sale

      For sale or lease, build-to-suit development opportunity.
      1357 Industry Dr, Traverse City, MI 49696
      View Details
    • $58,500
      0.39 Acres

      Vacant Land in Traverse City

      Residential land for sale near downtown Traverse City, Michigan.
      1184 Aster Ln, Traverse City, MI 49696
      View Details

    Similar Nearby for Lease

    • $2,458 /Mo

      Functional Industrial Space Available Soon

      Industrial space with showroom, warehouse, loading dock, available April.
      1364 Trade Center Dr, Traverse City, MI 49696
      View Details
    • $9 SF/Yr
      21,450 SF

      Industrial Warehouse Facility in Traverse

      21,480 SF warehouse ideal for distribution and manufacturing.
      343 Hughes Dr, Traverse City, MI 49696
      View Details
    • New
      $4,950 /Mo
      4,860 SF

      Traverse City Industrial Space Available

      Functional industrial space with high power capacity and convenient access.
      1416 Industry Dr, Traverse City, MI 49696
      View Details
    • $1,500 /Mo
      Pending

      Traverse City Office Space Available

      1537 SF office space for rent in Traverse City.
      1396 Douglas Dr, Traverse City, MI 49696
      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.
    1517 Northern Star Dr
    Traverse City, MI 49696-8837
    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

    Thank You for Inquiry
    1517 Northern Star Dr, Traverse City, MI, 49696
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!