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    Sandy Edwards, Portage, MI

    License ID: 6502342107
    Callander Commercial
    Years of Experience
    28
    Association
    Greater Kalamazoo Association Of Realtors Inc

    Service Locations

    Contact details

    Phone:
    (269) 349-1000
    Office Address:
    628 W Milham Ave, Portage, MI, 49024

    Performance

    Listings
    13
    Total transactions
    61
    Total transactions amount
    $29M
    Price range
    $317k - 713k
    Average price
    $475k

    Listings

    For Sale (3)

    View map
    • $125,000
      1.08 Acres

      Kalamazoo Commercial Land - $125K

      1.08-acre I-1 zoned lot, prime location.
      7501 Stadium Dr, Kalamazoo, MI 49009
      View Details
    • $699,900
      10,033 SF

      Battle Creek Warehouse - $699,900

      10,033 SF Warehouse, Excellent Condition
      310 Custer Dr, Battle Creek, MI 49037
      View Details
    • $1,199,000
      Pending

      Downtown Kalamazoo Warehouse and Retail

      Highly visible Kalamazoo location with warehouse and retail space.
      409 E Kalamazoo Ave, Kalamazoo, MI 49007
      View Details

    For Lease (10)

    View map
    • $15 SF/Yr
      19,800 SF

      Kalamazoo Office Building for Lease

      19,800 SF Office Space, 7,770 SF Vacant
      3030 9Th St, Kalamazoo, MI 49009
      View Details
    • $25 SF/Yr
      8,080 SF

      Sturgis Retail Space - Endcap Suite Available

      High-traffic retail space, great visibility.
      1139 Centerville Rd, Sturgis, MI 49091
      View Details
    • $10 SF/Yr
      8,400 SF

      Lenox Ave Industrial Space

      Portage, MI: Office/Warehouse Opportunity
      865 Lenox Ave, Portage, MI 49024
      View Details
    • $1.00 SF/Yr
      24,000 SF

      Kalamazoo Retail Land Opportunity

      Prime 9-acre site, build-to-suit potential.
      5010 D Ave, Kalamazoo, MI 49009
      View Details
    • $7 SF/Yr
      34,741 SF

      East Main Street Retail Space

      Kalamazoo retail space, 2,750 sq ft available
      3500 Main St, Kalamazoo, MI 49001
      View Details
    • $14 SF/Yr
      72,025 SF

      Portage Office Center: Prime Location

      Multi-tenant office & retail space, high traffic area.
      618 Romence Rd, Portage, MI 49024
      View Details
    • $17 SF/Yr
      6,624 SF

      Portage Office Space Available

      Affordable office suites, ideal for solo professionals.
      1615 Centre Ave, Portage, MI 49024
      View Details
    • $14 SF/Yr
      46,424 SF

      Portage Office & Warehouse Space

      Versatile suites, ideal for startups
      8135 Dr, Portage, MI 49002
      View Details
    • $19 SF/Yr
      14,000 SF

      Downtown Kalamazoo Retail Development

      Prime Retail Space, 14,000 SF Available
      642 Portage St, Kalamazoo, MI 49007
      View Details
    • $10 SF/Yr

      Professional Office Suite For Rent

      Professional office suite in a multi-tenanted building, great location.
      865 Lenox Ave, Portage, MI 49024
      View Details

    Leases and Sales on Map

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    • For Lease

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    Sandy Edwards, Portage, MI
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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.

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