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    Property profile & analytics

    4728 Cedar Run Rd Traverse City, MI 49684

    • Commercial real estate
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-2465486
    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

    • Commercial real estate

    Property Details for 4728 Cedar Run Rd

    Property type
    Commercial real estate

    Description

    This exceptional 33.5-acre parcel, located at 4728 Cedar Run Road in Traverse City, Michigan, presents a unique development opportunity. Situated just west of downtown, the property boasts over 1,600 feet of frontage on Cedar Run Road and offers breathtaking views of the downtown area and the bay from its elevated western edge. The eastern side features rolling hills and mature hardwoods. Approximately 16 acres are comprised of a capped fly ash pit and are not developable. The remaining usable acreage is mostly cleared and ready for development. Currently zoned Agricultural, the property aligns with Garfield Township's master plan designating it for Low Density Residential (1-3 units per acre), allowing for potential rezoning to R-1. Alternatively, a PURD (Planned Urban Residential District) designation could enable clustered home sites and public trails. Municipal water and public sewer are readily available. The asking price is $850,000. Detailed information and offer evaluation criteria are available in associated documents. This property is ideal for developers seeking a prime location with stunning views and significant development potential. The zip code is 49684, and the property is located in Grand Traverse County.

    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
    -85.668168
    Latitude
    44.7609489

    Comparable in this City

    • $350,000
      35.00 Acres

      35 Acres Vacant Land Parcel

      35-acre vacant land with 1,000+ feet of Mann Creek frontage.
      E Fouch Rd, Traverse City, MI 49684
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    • $200,000
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      Bay View Land in Traverse

      Bay view lot near TART Trail and downtown Traverse City.
      13973 S Winding Trl, Traverse City, MI 49684
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    • $200,000
      0.53 Acres

      Bay View Lot in Northridge

      Bay view lot near TART Trail and downtown Traverse City.
      13973 S Winding Trl, Traverse City, MI 49684
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    • $167,000
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      Scenic Land Near Traverse City

      7.74 acres with pond, close to recreation and amenities.
      20047 Davis Lake Rd, Traverse City, MI 49684
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    • $249,000
      4.42 Acres

      Leelanau County Vacant Land Opportunity

      4+ acres in Leelanau County, ideal for building a home.
      3 E Bingham Valley Dr, Traverse City, MI 49684
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    • $279,900
      2.69 Acres

      Land Near Lake Leelanau

      2.69 acre buildable lot near Lake Leelanau with existing improvements.
      6785 Fouch Rd, Traverse City, MI 49684
      View Details

    Similar Nearby for Sale

    • $350,000
      35.00 Acres

      35 Acres Vacant Land Parcel

      35-acre vacant land with 1,000+ feet of Mann Creek frontage.
      E Fouch Rd, Traverse City, MI 49684
      View Details
    • $200,000
      0.53 Acres

      Bay View Land in Traverse

      Bay view lot near TART Trail and downtown Traverse City.
      13973 S Winding Trl, Traverse City, MI 49684
      View Details
    • $200,000
      0.53 Acres

      Bay View Lot in Northridge

      Bay view lot near TART Trail and downtown Traverse City.
      13973 S Winding Trl, Traverse City, MI 49684
      View Details
    • $167,000
      7.74 Acres

      Scenic Land Near Traverse City

      7.74 acres with pond, close to recreation and amenities.
      20047 Davis Lake Rd, Traverse City, MI 49684
      View Details
    • $249,000
      4.42 Acres

      Leelanau County Vacant Land Opportunity

      4+ acres in Leelanau County, ideal for building a home.
      3 E Bingham Valley Dr, Traverse City, MI 49684
      View Details
    • $279,900
      2.69 Acres

      Land Near Lake Leelanau

      2.69 acre buildable lot near Lake Leelanau with existing improvements.
      6785 Fouch Rd, Traverse City, MI 49684
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      5,903 SF

      Traverse City Retail Strip Center

      High-Visibility Retail Space Available
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    • $16 SF/Yr
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      Traverse City Office Space Available

      Office suites in a desirable Traverse City location for lease.
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    • $495 /Mo
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      Professional Office Space Available

      Single office units with shared amenities in Traverse City, MI.
      1212 Veterans Dr, Traverse City, MI 49684
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    • $650 /Mo
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      Downtown Traverse City Office Space

      Office space in downtown Traverse City with river views.
      309 E Front St, Traverse City, MI 49684
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    • $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
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    • $24 SF/Yr
      2,971 SF

      Downtown Traverse City Retail Condo

      Retail condo in downtown Traverse City, completion scheduled for June 2026.
      137 Pine St, Traverse City, MI 49684
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    Traverse City, MI 49684
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    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
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