The airport is located two nautical miles (2.3 mi; 3.7 km) southeast of the central business district of Traverse City.

The airport is categorized by the Federal Aviation Administration (FAA) as a non-hub primary commercial service facility.

[10][11] In October 2017, a Costco store opened next to the airport entrance on a property leased to the warehouse chain for 60 years.

This allowed for an additional 424 parking spots and a third TSA checkpoint line that can accommodate modern screening technology.

[4] The airport received $14 million in 2020 as part of the federal CARES act to help it maintain operations and complete upgrades during the COVID-19 pandemic.

[15] The airport was host to campaign events held by gubernatorial candidate Tudor Dixon during the 2022 midterm elections.

Cherry Capital Airport covers an area of 1,026 acres (415 ha) at an elevation of 624 feet (190 m) above mean sea level.

[19][20] For the 12-month period ending December 31, 2021, the airport had 101,106 aircraft operations, an average of 277 per day: 75% general aviation, 11% scheduled commercial, 8% air taxi, and 6% military.