Fully Leased Office
104-4020 Copper Vw, Traverse City, MI 49684
For Sale
$575,000
Configured with private offices, meeting space, reception, and kitchen amenities.
Property Size2,300 SF
Price / SF$250
Days on Market1992
Property Features for 104-4020 Copper Vw
General Information
Standard status
Size
Total Parking Spaces
Occupancy
Additional Details
Office Units
Amenities
large reception area
conference room
kitchen
kitchenette
Building Details
Tenancy
Listing Agency:
Phoenix Property Partners
Listed By:
Ashley Rokos · License #6502424094
(231) 342-3775
Source:
Exprealty
Added: May 28, 2021
Changed: Oct 26
Last Checked: Nov 8 at 8:07AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Phoenix Property Partners
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 2,300-square-foot office suite is organized as separately leased private offices and is fully leased. The layout includes a welcoming reception area, seven private offices, a conference room, a kitchen, and a kitchenette, providing a complete professional-office configuration within one suite. Two private parking spaces in the parking garage are included.
The property is located at Copper Ridge, with access to the downtown business corridor and Munson Hospital while remaining outside the downtown core. The development also includes generous parking lots and views that extend beyond the immediate office setting.
The property is located at Copper Ridge, with access to the downtown business corridor and Munson Hospital while remaining outside the downtown core. The development also includes generous parking lots and views that extend beyond the immediate office setting.
Key Highlights
- 2,300‑square‑foot office suite configured as separately leased private offices
- Fully leased at this time
- Seven private offices plus a conference room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,633
Cap Rate
4.28%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
7
Office units
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
$375,700
Median Home Value
Market
Average Price Trend$/SF for Office Units in Traverse City, MI
Properties on Market for Office Units in Traverse City
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office unit - Configured with private offices, meeting space, reception, and kitchen amenities.
Where is this office unit located?
The property is located at 104-4020 Copper Vw 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: 2,300‑square‑foot office suite configured as separately leased private offices; Fully leased at this time; Seven private offices plus a conference room
