For Sale
Traverse City, MI
Commercial Real Estate Market Trends & Data
$5,362
Avg asking sale price
$18
Avg asking lease rate
39,686 SF
Avg unit lease size
24,247 SF
Avg building size for sale
8.29%
Average cap rate
Traverse City's Demographic Profile
Traverse City has 7,529 households and a median income of $61,300, providing context for rent absorption and tenant demand across retail and multifamily assets. A +3% five-year population trend is a key signal for evaluating long-term demand in this market.
| Key Demographic Metric | Value |
|---|---|
| Population | 16,111 |
| # Households | 7,529 |
| Median age | 45 |
| Median household income | $61,300 |
| Avg household size | 2.0 |
| Renter-occupied housing units | 3,010 |
| 5-year population change | +3% |
{{marketTabHeadings[activeMarketTab]}} Market Metrics Near Traverse City, MI
↻ Updated Monthly{{marketTabDescriptions[activeMarketTab]}}
| Nearby Retail Markets | Avg Cost/SF | Typical Size |
|---|---|---|
| Traverse City | $260 | 18,475 SF |
| Acme | $87 | 15,889 SF |
| Williamsburg | $87 | 15,889 SF |
| Suttons Bay | $167 | 18,000 SF |
| Elk Rapids | $169 | 2,953 SF |
| Nearby Multifamily Markets | Avg Cost/SF | Typical Size | Cap Max |
|---|---|---|---|
| Traverse City | $356 | 11,561 SF | 8.76% |
| Acme | $576 | 20,150 SF | 8.76% |
| Fife Lake | $123 | 3,216 SF | 9.63% |
| Farwell | $88 | 11,120 SF | 8.04% |
| Sister Bay | $526 | 5,882 SF | 4.53% |
Commercial Properties For Sale in Traverse City
The listings below reflect how current market pricing and building scale translate into active opportunities available today.
Average Price For Sale
↻ Updated MonthlyAverage Price For Lease
↻ Updated MonthlyNumber of Listings
↻ Updated MonthlyCap Rate
↻ Updated MonthlyHow Investors Evaluate Commercial Real Estate Markets
Nearby Commercial Markets
Comparing nearby markets helps investors see whether Traverse City pricing and building scale sit above, below, or in line with surrounding areas.
| Commercial Markets | Avg Cost/SF | Average Size |
|---|---|---|
| Traverse City | $5,362 | 24,247 SF |
| Acme | $403 | 24,438 SF |
| Williamsburg | $282 | 33,043 SF |
| Suttons Bay | $167 | 18,000 SF |
| Elk Rapids | $118 | 10,718 SF |
Regional Demographic Comparison
This comparison places Traverse City alongside nearby cities to show how population size, household counts, and income levels differ across the region. Viewing these markets side by side helps investors understand whether local demand and income characteristics are concentrated in Traverse City or distributed across surrounding areas.
| City | Population | # Households | Age | Median Household Income | Avg Household Size | Renter Occupied Housing Units | Five Yr Pop Growth % |
|---|---|---|---|---|---|---|---|
| Traverse City | 16,111 | 7,529 | 45 | $61,300 | 2 | 3,010 | 3% |
| Suttons Bay | 717 | 275 | 47 | $77,344 | 2 | 62 | 2% |
| Elk Rapids | 1,869 | 883 | 58 | $76,455 | 2 | 157 | 8% |
Disclaimer: The figures on this page reflect LoopNet's active commercial listings in Traverse City, MI and update as inventory changes. Averages can shift between periods or vary across property types depending on the mix of listings available at a given time, so individual metrics may not reflect broader market trends. These figures are best used as directional benchmarks for early market evaluation. For comprehensive commercial real estate data and analytics, subscribe to CoStar.
FAQs About Commercial Investing in Traverse City
View All Commercial Real Estate For Sale in Traverse City
Is Traverse City a good market for a first-time commercial real estate investor?
Traverse City offers commercial properties across a wide range of sizes and price points. By reviewing the market data and benchmarks on this page, first-time investors can better understand what a typical commercial property looks like before committing capital and narrowing in on specific listings.
How can this market data help me decide whether to buy commercial property for my business in Traverse City?
The pricing and size metrics on this page help business owners compare the cost of ownership against leasing in Traverse City. Typical building sizes and asking prices provide a starting point for evaluating space needs, budget fit, and long term occupancy costs before engaging lenders or brokers.
What should conservative investors focus on when evaluating commercial properties in Traverse City?
Conservative investors often prioritize manageable deal sizes, stable pricing ranges, and cap rate benchmarks shown for Traverse City. These metrics help assess whether current market conditions support steady income potential without relying on aggressive assumptions.
How does Traverse City compare to nearby commercial real estate markets?
Nearby market comparisons highlight differences in pricing, building scale, and cap rate ranges relative to Traverse City. Reviewing these side by side helps experienced investors identify relative value, pricing premiums, or alternative markets that may better align with return targets.
How can this page support early-stage deal screening for Traverse City acquisitions?
This page provides high-level benchmarks for pricing, deal size, and observed cap rates in Traverse City, which are useful for initial market filtering. Institutional and data-driven investors often use these signals to prioritize listings that meet size, pricing, and return thresholds before deeper underwriting.
