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    407 E Ransom Street Kalamazoo, MI 49007

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    Claim this Listing
    Pending
    $1,499,000

    COMMERCIAL - Kalamazoo, MI

    Property size:
    33,583 SF
    Lot size:
    1.47 Acres
    Added:
    Oct 9, 2024
    Days on Market:
    560
    Last Refresh:
    Apr 21 at 11:06 am

    Property Features for 407 E Ransom Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Bathrooms
    2
    Rooms
    Bathroom 1, Bathroom 2
    Standard status
    Pending
    APN
    06-15-262-003
    Size
    33,583 SF
    Lot size
    1.47 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    On file.
    Tax Annual Amount
    17802

    Utilities

    Utilities
    Cable Available
    Heating system
    Forced Air

    Building Details

    Year built
    1968
    Floors in Building
    1
    Number of units
    1

    We can help!

    Listing Contact
    TJ Ward
    TJ Ward

    Listing agent TJ Ward

    Listing office Kalamazoo Commercial Real Estate 501 W Willard Street, Kalamazoo, MI

    Listing date Oct 9, 2024

    MLS# 24053121

    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.

    Overview

    Kalamazoo Mixed-Use Commercial Building

    Located in downtown Kalamazoo, 407 E Ransom Street is positioned to benefit from the city's ongoing development. The property, situated on 1.47 acres, offers convenient on-site parking and loading access to both North Street and Ransom Street. The building encompasses a total of 33,583 square feet, including approximately 9,000 square feet of office space and approximately 24,000 square feet of warehouse space. The office area features a contemporary glass-front entrance leading to a lobby and waiting area, along with 14 private offices, a small conference room with a kitchenette, a break room equipped with a full kitchen, and a large conference room that includes a stage. The warehouse portion of the building has 20 ft wood finished ceilings, two grade-level overhead doors, and six loading dock doors.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Adams Outdoor Advertising Marketing & Advertising

    Suggested Use

    Restaurant Real Estate Agency Building Supply Law Firm 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

    • Trinity Warehousing Services Inc — 841 Gibson St, Kalamazoo, MI 49001
    • Safe Storage — 309 E Water St, Kalamazoo, MI 49007
    • Arcadia Archives — 309 E Water St, Kalamazoo, MI 49007
    • Safe Storage and Arcadia Archives — 309 e water st, kalamazoo, mi 49007
    • Storage Rentals of America — 504 E Michigan Ave, Kalamazoo, MI 49007

    Location Insight

    • Map
    • Local Demand
    City
    Kalamazoo
    County
    Kalamazoo
    State
    Michigan
    Longitude
    -85.577864
    Latitude
    42.297463

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    FAQs

    What type of property is this?
    Warehouse - 33,583 SF building with office and warehouse space for sale.
    Where is this warehouse located?
    The property is located at 407 E Ransom Street Kalamazoo, MI.
    What is the asking price?
    The asking price for this property is $1,499,000.
    What are key features of this property?
    This property features: Prime downtown Kalamazoo location in an area of development growth.; Ample space with **33,583 SF building**, including ~9,000 SF of office space and ~24,000 SF of warehouse space on 1.47 acres.; Convenient on‑site parking and loading access to both North Street and Ransom Street.
    (269) 569-4289
    We can help!
    Listing Contact
    TJ Ward
    TJ Ward
    Learn More
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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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