Fully Leased Office
For Sale
$575,000
4020 Copper View, Traverse City, MI 49684
Commercial, Traverse City, MI
Property Size2,300 SF
Price / SF$250
Days on Market1929
Property Features for 4020 Copper View
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
Commercial
Parking features
Garage
Exterior features
Brick
Lot features
Office Center
Directions
Located on the mid level of Building A in Copper Ridge
Subdivision
Grand Traverse
Standard status
Active
Size
2,300 SF
Taxes and HOA fees
Tax Description
UNIT 2 SUITE 12 and 15 COPPER RIDGE PROFESSIONAL CENTER TWO GRAND TRAVERSE CONDO SUBDIVISION PLAN NO. 200 REPLAT OF UNIT 2 COPPER RIDGE PROFESSIONAL CENTER GRAND TRAVERSE COUNTY CONDO PLAN NO. 148 SEC 9 T27N R11W (THIRD AMENDMENT)
HOA Fee
$859 Monthly
Legal Description
UNIT 2 SUITE 12 and 15 COPPER RIDGE PROFESSIONAL CENTER TWO GRAND TRAVERSE CONDO SUBDIVISION PLAN NO. 200 REPLAT OF UNIT 2 COPPER RIDGE PROFESSIONAL CENTER GRAND TRAVERSE COUNTY CONDO PLAN NO. 148 SEC 9 T27N R11W (THIRD AMENDMENT)
Amenities
large reception area
conference room
kitchen
kitchenette
gorgeous views
Building Details
Building materials
Brick, Block
Roof type
Metal
Listing Agency:
Phoenix Property Partners
(231) 342-3775
Listed By:
Ashley Rokos · License #6502424094
(231) 929-7900
Added: May 28, 2021
Changed: Sep 5
Last Checked: Sep 7 at 6:06PM
MLS# 1888022
Copyright © 2026 Northern Great Lakes Realtors MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,300-square-foot office suite is configured as individually leased office units and is fully leased. The layout includes a large reception area, 7 private offices, a conference room, kitchen, and kitchenette. Two private parking spaces are located in the parking garage. Brick and block construction with a metal roof supports the office configuration.
Located at 4020 Copper View in Traverse City, the property sits near the downtown business corridor and Munson Hospital while remaining outside the downtown core. The Copper Ridge setting also includes parking lots and convenient access to the surrounding business area.
Located at 4020 Copper View in Traverse City, the property sits near the downtown business corridor and Munson Hospital while remaining outside the downtown core. The Copper Ridge setting also includes parking lots and convenient access to the surrounding business area.
Key Highlights
- 2,300sf office suite divided into individually leased office units
- Currently fully leased with offices leased separately
- 7 private offices plus a conference room
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$24,633
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.28%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$492,660
$492.7K
Cap Rate 7%
$351,900
$351.9K
Cap Rate 9%
$273,700
$273.7K
Market Conditions
NOI Build-Up for 2,300 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$38.6K $16.80/SF
− Vacancy
−$5.8K −$2.52/SF
EGI
$32.8K $14.28/SF
− OpEx
−$8.2K −$3.57/SF
NOI
$24.6K $10.71/SF
Area
Grand Traverse County, MI
Vacancy
15.00%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$492,660
Cap Rate 7%
$351,900
Cap Rate 9%
$273,700
Alternative Uses
Best Use
Office B
$351.9K
$307.9K – $410.6K
NOI $24,633 @ 7.0% cap · market cap 4.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$499.6K
$437.2K – $582.9K
NOI $34,975 @ 7.0% cap · market cap 6.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
357
Businesses Nearby
Explore this area
Business Placement
Demographics for 49684, MI
22,025
Population
10,959
Households
2
Avg Household Size
49
Median Age
46%
College-Educated
96%
High-School Grad
52.8 sq mi
ZIP Area
417
Density / Sq Mi
$75,678
Median Household Income
$39,553
Median Earnings
$1,216
Median Rent
$375,700
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Includes private offices, a conference room, reception area, and kitchen amenities.
Where is this office units located?
The property is located at 4020 Copper View Traverse City, MI.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 2,300sf office suite divided into individually leased office units; Currently fully leased with offices leased separately; 7 private offices plus a conference room
