Leased Office Suite with
For Sale
$372,000
225-4020 Copper Vw, Traverse City, MI 49684
Office suite features reception, conference room, private offices, kitchenette, and two garage parking spaces.
Property Size1,175 SF
Price / SF$316.60
Days on Market410
Property Features for 225-4020 Copper Vw
General Information
Standard status
Active
Size
1,175 SF
Total Parking Spaces
2
Listing Agency:
Phoenix Property Partners
Listed By:
Ashley Rokos · License #6502424094
(231) 342-3775
Source:
Exprealty
Added: Jul 25, 2025
Changed: Aug 25
Last Checked: Sep 6 at 10:00AM
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 leased office suite offers a lobby/reception area, a large conference room, four private offices, and a kitchenette. The unit is configured for day-to-day professional use and includes two private parking spaces in the building’s parking garage.
The property is part of Copper Ridge, positioned for convenient access to the downtown business corridor and Munson Hospital while providing an alternative to downtown congestion. The setting includes generous parking lots and views, supporting easier arrival for clients and staff.
For buyers, this is an investment-oriented offering with existing tenancy in place through March 31, 2028. For businesses evaluating relocation or expansion, the space layout supports client-facing work in the reception and conference area, along with dedicated private office space for teams, with on-site parking included through the private garage spaces.
The property is part of Copper Ridge, positioned for convenient access to the downtown business corridor and Munson Hospital while providing an alternative to downtown congestion. The setting includes generous parking lots and views, supporting easier arrival for clients and staff.
For buyers, this is an investment-oriented offering with existing tenancy in place through March 31, 2028. For businesses evaluating relocation or expansion, the space layout supports client-facing work in the reception and conference area, along with dedicated private office space for teams, with on-site parking included through the private garage spaces.
Key Highlights
- 1,175 SF office suite currently leased through March 31, 2028
- Suite layout includes a lobby/reception area, large conference room, and 4 private offices
- Includes kitchenette space within the suite
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
$12,584
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
3.38%
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%
$251,680
$251.7K
Cap Rate 7%
$179,771
$179.8K
Cap Rate 9%
$139,822
$139.8K
Market Conditions
NOI Build-Up for 1,175 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
$19.7K $16.80/SF
− Vacancy
−$3.0K −$2.52/SF
EGI
$16.8K $14.28/SF
− OpEx
−$4.2K −$3.57/SF
NOI
$12.6K $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%
$251,680
Cap Rate 7%
$179,771
Cap Rate 9%
$139,822
Alternative Uses
Best Use
Office B
$179.8K
$157.3K – $209.7K
NOI $12,584 @ 7.0% cap · market cap 3.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$255.3K
$223.4K – $297.8K
NOI $17,868 @ 7.0% cap · market cap 4.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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 features reception, conference room, private offices, kitchenette, and two garage parking spaces.
Where is this office units located?
The property is located at 225-4020 Copper Vw Traverse City, MI.
What is the asking price?
The asking price for this property is $372,000.
What are key features of this property?
This property features: 1,175 SF office suite currently leased through March 31, 2028; Suite layout includes a lobby/reception area, large conference room, and 4 private offices; Includes kitchenette space within the suite
