Freestanding Office
For Sale
$249,900
1516 Trimble Avenue, Kalamazoo, MI 49048
Commercial Sale, Kalamazoo, MI
Property Size2,213 SF
Lot Size0.33 Acres
Price / SF$112.92
Days on Market49
Property Features for 1516 Trimble Avenue
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
C-1
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 2, Bathroom 3
Parking
15
Elementary school district
Comstock
Middle school district
Comstock
High school district
Comstock
Directions
Gull Rd. to Trimble. Located on the corner of Trimble and Gull Rd.
Standard status
Active
APN
06-11-460-310
Size
2,213 SF
Lot size
0.33 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
2210640 3906 11 460 310 Bixby plat the N 40' of lot 30 also lots 31 &32
Tax Annual Amount
7417
Legal Description
2210640 3906 11 460 310 Bixby plat the N 40' of lot 30 also lots 31 &32
Utilities
Utilities
Natural Gas Available
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1951
Number of units
1
Building materials
Stucco
Listing Agency:
Chuck Jaqua, REALTOR
(269) 381-7653
Listed By:
Joanne K Becker · License #6502342093
(269) 217-9878
Added: Jul 14
Changed: Aug 19
Last Checked: Aug 31 at 2:06AM
MLS# 26035857
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.
This freestanding office property contains 2,213 square feet on a 0.33-acre parcel. Built in 1951, the building features stucco construction, forced-air heating, central air conditioning, natural gas availability, and three bathrooms.
The property occupies the corner of Gull Road and Trimble Avenue in Kalamazoo and is within walking distance of Beacon Kalamazoo, formerly Borgess Hospital. C-1 Local Business District zoning supports office use and allows some retail. The parcel along Gull Road in front of the building is not owned by the seller.
The property occupies the corner of Gull Road and Trimble Avenue in Kalamazoo and is within walking distance of Beacon Kalamazoo, formerly Borgess Hospital. C-1 Local Business District zoning supports office use and allows some retail. The parcel along Gull Road in front of the building is not owned by the seller.
Key Highlights
- 2,213‑square‑foot freestanding office building
- 0.33‑acre parcel at Gull Road and Trimble Avenue
- C‑1 Local Business District zoning allows some retail
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
$22,180
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
8.88%
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%
$443,600
$443.6K
Cap Rate 7%
$316,857
$316.9K
Cap Rate 9%
$246,444
$246.4K
Market Conditions
NOI Build-Up for 2,213 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
$31.9K $14.40/SF
− Vacancy
−$2.3K −$1.04/SF
EGI
$29.6K $13.36/SF
− OpEx
−$7.4K −$3.34/SF
NOI
$22.2K $10.02/SF
Area
Kalamazoo County, MI
Vacancy
7.20%
Lease Rate
$14.40 /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%
$443,600
Cap Rate 7%
$316,857
Cap Rate 9%
$246,444
Alternative Uses
Best Use
Office B
$316.9K
$277.3K – $369.7K
NOI $22,180 @ 7.0% cap · market cap 8.88%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$579.1K
$506.7K – $675.6K
NOI $40,537 @ 7.0% cap · market cap 16.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,064
Businesses Nearby
Explore this area
Business Placement
Demographics for 49048, MI
25,067
Population
10,440
Households
2.4
Avg Household Size
36
Median Age
25%
College-Educated
90%
High-School Grad
35.1 sq mi
ZIP Area
714
Density / Sq Mi
$62,160
Median Household Income
$36,150
Median Earnings
$1,032
Median Rent
$158,300
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 building - C-1 zoning supports office use with some retail permitted at the corner of Gull Road and Trimble Avenue.
Where is this office building located?
The property is located at 1516 Trimble Avenue Kalamazoo, MI.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: 2,213‑square‑foot freestanding office building; 0.33‑acre parcel at Gull Road and Trimble Avenue; C‑1 Local Business District zoning allows some retail
