Three-Room Office Building with
For Sale
$85,000
3011 Riverview Drive, Kalamazoo, MI 49004
Commercial Sale, Kalamazoo, MI
Property Size1,068 SF
Lot Size0.51 Acres
Price / SF$79.59
Days on Market125
Property Features for 3011 Riverview Drive
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
C-1
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
High school
Parchment High School
Elementary school district
Parchment
Middle school district
Parchment
High school district
Parchment
Directions
Take Riverview to 3011.
Standard status
Active
APN
06-03-495-051
Size
1,068 SF
Lot size
0.51 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
4393560 3906 03 495 051 WATSON BROTHERS PLAT LOTS 5 & 6
Tax Annual Amount
1958
Legal Description
4393560 3906 03 495 051 WATSON BROTHERS PLAT LOTS 5 & 6
Utilities
Utilities
Natural Gas Available
Sewer type
Septic Tank
Heating system
Forced Air
Water source
Well
Building Details
Year built
1920
Number of units
1
Building materials
Stucco
Roof type
Composition
Listing Agency:
Strong Properties, LLC
(269) 459-1682
Listed By:
Sheila M Strong · License #6504431351
(269) 598-4146
Added: Apr 23
Changed: Aug 24
Last Checked: Aug 25 at 3:06AM
MLS# 26017620
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.
Welcome to 3011 Riverview Drive, a three-room office structure with one bathroom on approximately 0.51 acres (two lots). Constructed with stucco and originally built in 1920, the building features forced-air heating, a composition roof, and is supported by natural gas availability. The property has a well water source and a septic tank sewer system.
Access is available from both Riverview Drive and Shoppers Ln, and the site includes a spacious yard with room for expansion. The property is zoned C-1 and is currently used as a non-conforming residential premises. This non-conforming use can be continued for an investor looking to add a rental to a portfolio.
Riverview Drive frontage provides convenient access to shopping, dining, and major roadways, supporting a variety of commercial use considerations.
Access is available from both Riverview Drive and Shoppers Ln, and the site includes a spacious yard with room for expansion. The property is zoned C-1 and is currently used as a non-conforming residential premises. This non-conforming use can be continued for an investor looking to add a rental to a portfolio.
Riverview Drive frontage provides convenient access to shopping, dining, and major roadways, supporting a variety of commercial use considerations.
Key Highlights
- Three‑room office structure with one bathroom
- 0.51‑acre site on two lots
- Access from Riverview Dr and Shoppers Ln
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
$5,769
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
6.79%
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%
$115,380
$115.4K
Cap Rate 7%
$82,414
$82.4K
Cap Rate 9%
$64,100
$64.1K
Market Conditions
NOI Build-Up for 1,068 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
$11.3K $10.56/SF
− Vacancy
−$789 −$0.74/SF
EGI
$10.5K $9.82/SF
− OpEx
−$4.7K −$4.42/SF
NOI
$5.8K $5.40/SF
Area
Kalamazoo County, MI
Vacancy
7.00%
Lease Rate
$10.56 /SF/Yr
Expense Ratio
45.00%
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%
$115,380
Cap Rate 7%
$82,414
Cap Rate 9%
$64,100
Alternative Uses
Best Use
Office B
$152.9K
$133.8K – $178.4K
NOI $10,704 @ 7.0% cap · market cap 12.59%
Second Best
Apartment 5plus
$82.4K
$72.1K – $96.2K
NOI $5,769 @ 7.0% cap · market cap 6.79%
Theoretical Best
Warehouse
$279.5K
$244.5K – $326.1K
NOI $19,563 @ 7.0% cap · market cap 23.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
180
Businesses Nearby
Explore this area
Business Placement
Demographics for 49004, MI
16,358
Population
7,663
Households
2.1
Avg Household Size
39
Median Age
34%
College-Educated
96%
High-School Grad
22.0 sq mi
ZIP Area
744
Density / Sq Mi
$72,434
Median Household Income
$42,213
Median Earnings
$1,059
Median Rent
$183,500
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 - Three-room office building with a bathroom on 0.51 acres, zoned C-1 and accessed from Riverview Dr and Shoppers Ln.
Where is this office building located?
The property is located at 3011 Riverview Drive Kalamazoo, MI.
What is the asking price?
The asking price for this property is $85,000.
What are key features of this property?
This property features: Three‑room office structure with one bathroom; 0.51‑acre site on two lots; Access from Riverview Dr and Shoppers Ln
