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    Freestanding Building Near Kalamazoo River Title is generated by Realmo AI

    1037 Riverview Drive, Kalamazoo, MI 49048

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    For Lease
    $20 SF/Yr $11,283/Mo (calc)

    COMMERCIAL - Kalamazoo, MI

    Type:Retail
    Property size:
    6,770 SF
    Lot size:
    0.74 Acres
    Added:
    Jan 8, 2026
    Days on Market:
    143
    Last Refresh:
    May 31 at 7:06 am

    Property Features for 1037 Riverview Drive

    General Information

    Property type
    Commercial Lease
    Property subtype
    Retail
    Fireplace
    1
    Standard status
    Active
    APN
    06-14-105-001
    Size
    6,770 SF
    Lot size
    0.74 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    45874, 45876, 45878, 45882 ASSESSORS PLAT OF THOMAS ADDITION LOT 14, LOT 18, & LOT 16. ALSO THE SOUTHERLY 50 FEET OF LOT 15. ALSO THE EAST 60 FEET OF LOT 13. ALSO THE EAST 60 FEET OF THE NORTH 10 FEET OF LOT 15.

    Utilities

    Utilities
    Natural Gas Available
    Heating system
    Forced Air

    Building Details

    Year built
    1998

    We can help!

    Listing Contact
    Tjader Gerdom
    Tjader Gerdom

    Listing agent Tjader Gerdom License #6502357230

    Listing office GRI Homes for Today 640 Griswold Ste 100, Northville, MI

    Listing date Jan 8, 2026

    MLS# 26000933

    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.

    HighLights

    • Prime Location: Steps from the Kalamazoo River, 1 mile from downtown Kalamazoo, and less than 10 minutes from I‑94.
    • Easy Access: Accessible from both Riverview Drive and Gordon Place.
    • Ample Parking: Provides convenient parking for customers and employees.
    • Pylon Signage: Offers high visibility and branding opportunities.
    • Freestanding Building: Former Advance Auto Parts building, providing flexibility for various uses.
    • Utilities: Natural Gas Available, Forced Air Heating, Fireplace.

    Overview

    This freestanding building, formerly an Advance Auto Parts store, is available for lease. The property is situated on Riverview Drive, just north of Gull Road, and is located steps away from the Kalamazoo River. It is approximately 1 mile from downtown Kalamazoo and less than 10 minutes from I-94. The building offers convenient access from both Riverview Drive and Gordon Place. The property includes ample parking and pylon signage. The lot size is 0.74 acres and the building size is 6,770 square feet.
    Property Profile Location Intelligence

    Current Use by Public Records

    Advance Auto Parts Auto Parts Store

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • B & W Charters Inc — 1123 King Hwy, Kalamazoo, MI 49001
    • Physicians Health Plan — 106 Farmers Alley # 400, Kalamazoo, MI 49007

    Location Insight

    • Map
    • Local Demand
    City
    Kalamazoo
    County
    Kalamazoo
    State
    Michigan
    Longitude
    -85.57001
    Latitude
    42.301921

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    FAQs

    What type of property is this?
    Automotive property - Former Advance Auto Parts available for lease near Kalamazoo River.
    Where is this automotive property located?
    The property is located at 1037 Riverview Drive Kalamazoo, MI.
    What is the lease rate?
    The lease rate is $20 SF/Yr.
    What are key features of this property?
    This property features: Prime Location: Steps from the Kalamazoo River, 1 mile from downtown Kalamazoo, and less than 10 minutes from I‑94.; Easy Access: Accessible from both Riverview Drive and Gordon Place.; Ample Parking: Provides convenient parking for customers and employees.
    (248) 515-7606
    We can help!
    Listing Contact
    Tjader Gerdom
    Tjader Gerdom
    Real Estate License ID: 6502357230
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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
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