Mixed-Use Property with Commercial
For Sale
$2,000,000
414-424 Walbridge Street, Kalamazoo, MI 49007
Commercial Sale, Kalamazoo, MI
Property Size10,000 SF
Lot Size0.47 Acres
Price / SF$201.33
Days on Market601
Property Features for 414-424 Walbridge Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
201 Commercial
Bathrooms
1
Full bathrooms
1
Rooms
Basement, Bathroom 1
Parking
12
Elementary school district
Kalamazoo
Middle school district
Kalamazoo
High school district
Kalamazoo
Directions
US-131 to I-94 W, exit and continue on Portage st south into downtown Kalamazoo, turn left onto Walbridge st
Subdivision
Greater Kalamazoo - K
Standard status
Active
APN
06-15-408-012 & 06-15-403-001
Size
9,934 SF
Lot size
0.47 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
See attached document
Tax Annual Amount
5759
Legal Description
See attached document
Utilities
Utilities
Natural Gas Available
Heating system
Forced Air
Building Details
Year built
1926
Number of units
1
Building materials
Brick
Roof type
Rubber
Listing Agency:
Keller Williams GR East · Keller Williams Realty
(616) 575-1800
Listed By:
Jason R Carpenter · License #6502430921
(616) 334-2630
Added: Feb 14, 2025
Changed: Sep 12
Last Checked: Oct 8 at 10:06AM
MLS# 25006146
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 9,934-square-foot mixed-use property in downtown Kalamazoo occupies a 0.47-acre site and was constructed in 1926. The brick building includes a commercial kitchen, coffee shop, basement, bathroom, freight elevator, and grade-level overhead doors. Forced-air heating, a rubber roof, and natural gas availability are also reported.
The property includes a vacant lot north of the building and is located within an opportunity zone. Its prior use as an auto parts manufacturing facility, combined with the existing kitchen and coffee shop improvements, creates a varied physical layout for commercial reuse or redevelopment. The building is addressed at 414-424 Walbridge Street in Kalamazoo, Michigan.
The property includes a vacant lot north of the building and is located within an opportunity zone. Its prior use as an auto parts manufacturing facility, combined with the existing kitchen and coffee shop improvements, creates a varied physical layout for commercial reuse or redevelopment. The building is addressed at 414-424 Walbridge Street in Kalamazoo, Michigan.
Key Highlights
- 9,934‑square‑foot mixed‑use building on 0.47 acres
- Commercial kitchen and coffee shop improvements
- Grade‑level overhead doors and freight elevator
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$149,855
Cap Rate
7.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,997,100
$3.0M
Cap Rate 7%
$2,140,786
$2.1M
Cap Rate 9%
$1,665,056
$1.7M
Market Conditions
NOI Build-Up for 9,934 SF
Gross rent
$219.3K $22.08/SF
− Vacancy
−$5.3K −$0.53/SF
EGI
$214.1K $21.55/SF
− OpEx
−$64.2K −$6.47/SF
NOI
$149.9K $15.09/SF
Area
Kalamazoo County, MI
Vacancy
2.40%
Lease Rate
$22.08 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,997,100
Cap Rate 7%
$2,140,786
Cap Rate 9%
$1,665,056
Alternative Uses
Best Use
Industrial
$2.14M
$1.87M – $2.50M
NOI $149,855 @ 7.0% cap · market cap 7.49%
Second Best
Mixed Use
$1.47M
$1.29M – $1.71M
NOI $102,817 @ 7.0% cap · market cap 5.14%
Theoretical Best
Warehouse
$2.60M
$2.27M – $3.03M
NOI $181,967 @ 7.0% cap · market cap 9.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,946
Businesses Nearby
Explore this area
Business Placement
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Brick building with a commercial kitchen, coffee shop, freight elevator, and grade-level overhead doors.
Where is this mixed-use property located?
The property is located at 414-424 Walbridge Street Kalamazoo, MI.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: 9,934‑square‑foot mixed‑use building on 0.47 acres; Commercial kitchen and coffee shop improvements; Grade‑level overhead doors and freight elevator
