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    For Sale (15)

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    Commercial Building Near M-89
    $299,900
    4,000 SF

    Commercial Building Near M-89

    4,000 SF commercial building near M-89 in Allegan, MI.

    2569 111Th Ave, Allegan, MI 49010
    View details
    Farmland Parcel in Nashville, MI
    $129,000
    16.64 Acres

    Farmland Parcel in Nashville, MI

    16.64-acre farmland suitable for agriculture or residential development.

    S Mason Rd, Nashville, MI 49073
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    Richland Buildable Land For Sale
    $150,000
    0.87 Acres

    Richland Buildable Land For Sale

    Nearly one acre lot with woods and creek.

    11654 E De Ave, Richland, MI 49083
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    Wooded Land Near Hall Lake
    Contact for pricing
    1.07 Acres

    Wooded Land Near Hall Lake

    Secluded, wooded 1.07-acre parcel near Hall Lake boat access.

    57653 Red Arrow Hwy, Lawrence, MI 49064
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    Kalamazoo Office/Retail Building For Sale
    $150,000
    1,004 SF

    Kalamazoo Office/Retail Building For Sale

    Standalone office/retail building with garage and parking in Kalamazoo, MI.

    1707 Miller Rd, Kalamazoo, MI 49001
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    Picturesque Land in Paw Paw
    $110,000
    17.52 Acres

    Picturesque Land in Paw Paw

    17+ acre property with pond, fields, and wooded boundary.

    41908 48Th Ave, Paw Paw, MI 49079
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    Residential Land in Kalamazoo, MI
    Contact for pricing
    0.13 Acres

    Residential Land in Kalamazoo, MI

    Buildable lot in Northside neighborhood, close to downtown amenities.

    1628 Princeton Ave, Kalamazoo, MI 49007
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    106-Acre Wooded Tract in Michigan
    $830,000
    106.25 Acres

    106-Acre Wooded Tract in Michigan

    106.25-acre wooded tract for hunting, recreation, and building.

    20720 12 Mile Rd, Battle Creek, MI 49014
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    Land with Essential Utilities Installed
    $67,500
    1.54 Acres

    Land with Essential Utilities Installed

    1.54-acre parcel with well, septic, electric, and barndominium shell.

    369 County Road 665, Bloomingdale, MI 49026
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    Nashville Retail/Office Opportunity
    $85,000
    1,012 SF

    Nashville Retail/Office Opportunity

    Retail or office space in growing Nashville, Michigan.

    119 N Main St, Nashville, MI 49073
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    Allegan Commercial Office Opportunity
    $299,900
    5,500 SF

    Allegan Commercial Office Opportunity

    Commercial office building on 5 acres in Allegan, Michigan.

    2565 111Th Ave, Allegan, MI 49010
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    Vacant Lot in Vine Neighborhood
    $70,000
    0.35 Acres

    Vacant Lot in Vine Neighborhood

    Vacant lot with development potential in Kalamazoo's Vine Neighborhood.

    1316 S Park St, Kalamazoo, MI 49001
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    Commercial Duplex Near I-94
    $324,900
    3,000 SF

    Commercial Duplex Near I-94

    Commercial duplex with remodeled units and high visibility location.

    4742 Beckley Rd, Battle Creek, MI 49015
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    Village of Nashville Commercial Space
    $85,000
    1,012 SF

    Village of Nashville Commercial Space

    Commercial space in growing Nashville Village with parking.

    119 N Main St, Nashville, MI 49073
    View details
    106 Acres Wooded Land
    $830,000
    4,628,250 SF

    106 Acres Wooded Land

    106.25-acre wooded tract for hunting, recreation, and building.

    20720 12 Mile Rd, Battle Creek, MI 49014
    View details

    For Lease (1)

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    Industrial Building Near M-89
    $10 SF/Yr
    4,000 SF

    Industrial Building Near M-89

    4,000 SF commercial building near M-89 in Allegan, MI.

    2569 111Th Ave, Allegan, MI 49010
    View details

    Leases and Sales on Map

    • For Sale
    • For Lease

    Properties for sale

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    Request Owner's contact information
    Keller Williams Realty Kalamazoo Market Center
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Keller Williams Realty Kalamazoo Market Center
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