Downtown Storefront
For Sale
$1,100,000
100 N Edwards Street, Kalamazoo, MI 49007
COMMERCIAL - Kalamazoo, MI
Property Size12,000 SF
Lot Size0.16 Acres
Price / SF$91.67
Days on Market1032
Property Features for 100 N Edwards Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bathroom 2, Bathroom 1
Parking
2
Interior features
Broadband
Subdivision
HayMarket Downtown South to Crosstown
Elementary school district
Kalamazoo
Middle school district
Kalamazoo
High school district
Kalamazoo
Directions
West Michigan Ave to Edwards Ave. or East Michigan Ave. to North Edwards Street. Cross Streets: E. Water Street and N Edwards Street or West Michigan and N Edwards Street.
Standard status
Active
APN
0615349005
Size
12,000 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2023
Tax Description
See Attached.
Tax Annual Amount
4585
Legal Description
See Attached.
Utilities
Utilities
Cable Available
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1893
Floors in Building
2
Number of units
3
Building materials
Block, Brick
Roof type
Composition
Listing Agency:
Berkshire Hathaway HomeServices MI
(269) 344-8599
Listed By:
Brian D Lewis · License #6591441776
(269) 488-5293
Added: Oct 16, 2023
Changed: Aug 4
Last Checked: Aug 12 at 7:06AM
MLS# 23138518
Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
For sale at 100 N Edwards Street, this storefront building totals approximately 12,000 square feet on a 0.16-acre lot. Public remarks describe a configuration with a downtown-oriented ground level and a 2nd floor that could be developed into condos or luxury flats. The remarks also reference a carriage elevator and features such as rustic brick-walled wine cellar space and related areas that may support an eatery, meeting, retail, or office use.
Public remarks further state the property is close to Arcadia Creek Festival Place and that an arena project is underway about three blocks away.
According to the provided information, the building is owned by a Kalamazoo architect, and the offering is positioned as having multiple adaptive reuse directions. Please contact the listing agent for additional ideas related to layout and potential uses.
Public remarks further state the property is close to Arcadia Creek Festival Place and that an arena project is underway about three blocks away.
According to the provided information, the building is owned by a Kalamazoo architect, and the offering is positioned as having multiple adaptive reuse directions. Please contact the listing agent for additional ideas related to layout and potential uses.
Key Highlights
- Downtown Kalamazoo building built in 1893
- Block and brick construction with composition roof
- Forced‑air heating and central air conditioning
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
$82,757
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
7.52%
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%
$1,655,140
$1.7M
Cap Rate 7%
$1,182,243
$1.2M
Cap Rate 9%
$919,522
$919.5K
Market Conditions
NOI Build-Up for 12,000 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
$144.0K $12.00/SF
− Vacancy
−$25.8K −$2.15/SF
EGI
$118.2K $9.85/SF
− OpEx
−$35.5K −$2.96/SF
NOI
$82.8K $6.90/SF
Area
Kalamazoo County, MI
Vacancy
17.90%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,655,140
Cap Rate 7%
$1,182,243
Cap Rate 9%
$919,522
Alternative Uses
Best Use
Specialty Retail
$1.61M
$1.41M – $1.88M
NOI $112,584 @ 7.0% cap · market cap 10.23%
Second Best
Retail
$1.18M
$1.03M – $1.38M
NOI $82,757 @ 7.0% cap · market cap 7.52%
Theoretical Best
Warehouse
$3.14M
$2.75M – $3.66M
NOI $219,811 @ 7.0% cap · market cap 19.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,094
Businesses Nearby
63k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 44%
Shops & Services 42%
Hotels & Casinos 12%
Electronics 2%
McDonald's
Dining
15,871 visits/mo
0.2 miles
Shell
Shops & Services
13,648 visits/mo
0.5 miles
Checkers
Dining
6,149 visits/mo
0.4 miles
Barrio Tacos
Dining
4,643 visits/mo
0.2 miles
Family Dollar
Shops & Services
4,370 visits/mo
0.3 miles
Demographics for 49007, MI
10,353
Population
5,102
Households
2
Avg Household Size
31
Median Age
24%
College-Educated
84%
High-School Grad
3.5 sq mi
ZIP Area
2,958
Density / Sq Mi
$39,309
Median Household Income
$24,723
Median Earnings
$1,017
Median Rent
$103,400
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Storefront property - For sale storefront building with potential for 2nd-floor condo development and 12,000 SF total area.
Where is this storefront property located?
The property is located at 100 N Edwards Street Kalamazoo, MI.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Downtown Kalamazoo building built in 1893; Block and brick construction with composition roof; Forced‑air heating and central air conditioning
