Office Suite with Reception
For Sale
$165,000
111-4020 Copper Vw, Traverse City, MI 49684
Office suite offers a reception area, two private offices, kitchenette, and an open work room.
Property Size716 SF
Price / SF$230.45
Days on Market84
Property Features for 111-4020 Copper Vw
General Information
Standard status
Active
Size
716 SF
Total Parking Spaces
1
Additional Details
Furnished
Yes
Listing Agency:
Phoenix Property Partners
Listed By:
Ashley Rokos · License #6502424094
(231) 342-3775
Source:
Exprealty
Added: Jun 16
Changed: Aug 20
Last Checked: Sep 6 at 12:48PM
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
Investment Insights
Based on property information with market context.
This for-sale office suite in Copper Ridge Professional Center includes a reception area, two private offices, a kitchenette, and an open work room. Office furniture is included in the sale, including a reception desk, two wood desks, and two credenzas with chairs. The suite also comes with one designated parking space in the lower level parking garage.
Copper Ridge is described as having first-class level finishes and grounds, with convenience to Munson and downtown Traverse City. The property benefits from abundant parking intended to support both client and owner access.
The space is configured for reception and private work alongside an open work area, making it suitable for an owner-occupant looking to combine client-facing and day-to-day office functions in a single suite.
Copper Ridge is described as having first-class level finishes and grounds, with convenience to Munson and downtown Traverse City. The property benefits from abundant parking intended to support both client and owner access.
The space is configured for reception and private work alongside an open work area, making it suitable for an owner-occupant looking to combine client-facing and day-to-day office functions in a single suite.
Key Highlights
- Owner‑occupied office suite in Copper Ridge Professional Center
- Includes reception area, two private offices, kitchenette, and an open work room
- Office furniture included: reception desk, two wood desks, two credenzas, and chairs
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
$7,668
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
4.65%
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%
$153,360
$153.4K
Cap Rate 7%
$109,543
$109.5K
Cap Rate 9%
$85,200
$85.2K
Market Conditions
NOI Build-Up for 716 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
$12.0K $16.80/SF
− Vacancy
−$1.8K −$2.52/SF
EGI
$10.2K $14.28/SF
− OpEx
−$2.6K −$3.57/SF
NOI
$7.7K $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%
$153,360
Cap Rate 7%
$109,543
Cap Rate 9%
$85,200
Alternative Uses
Best Use
Office B
$109.5K
$95.9K – $127.8K
NOI $7,668 @ 7.0% cap · market cap 4.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$155.5K
$136.1K – $181.5K
NOI $10,888 @ 7.0% cap · market cap 6.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,399
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 - Office suite offers a reception area, two private offices, kitchenette, and an open work room.
Where is this office units located?
The property is located at 111-4020 Copper Vw Traverse City, MI.
What is the asking price?
The asking price for this property is $165,000.
What are key features of this property?
This property features: Owner‑occupied office suite in Copper Ridge Professional Center; Includes reception area, two private offices, kitchenette, and an open work room; Office furniture included: reception desk, two wood desks, two credenzas, and chairs
