Building Details

Year Built 1976

Listing Agency: Kalamazoo Commercial Real Estate

Listed By: Andrew J Gyorkos · License #6502406462 Show Phone

Source: Katie-k

Added: Aug 20 Changed: Oct 10 Last Checked: Oct 7 at 3:04PM

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Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Kalamazoo Commercial Real Estate

Investment Insights

Based on property information with market context.

Located at 101 W Monroe Street, this 1,088-square-foot office unit occupies a former bank building constructed in 1976. The interior includes one private office, a kitchenette, and one bathroom, while drive-through access supports the property’s prior banking layout and potential office or retail use. Pylon signage is positioned at the front of the building.

The property is in Downtown Bangor and has a municipal parking lot directly behind the building. An Omni Credit Union ATM located behind the property will remain in place and is excluded from the sale.

Key Highlights

• 1,088 SF former bank building constructed in 1976
• One private office, kitchenette, and one bathroom
• Drive‑through access supports the existing layout

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$11,294

Cap Rate

5.68%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$225,880 $225.9K

Cap Rate 7%

$161,343 $161.3K

Cap Rate 9%

$125,489 $125.5K

Market Conditions

NOI Build-Up for 1,088 SF

Gross rent

$16.8K $15.48/SF

− Vacancy

−$707 −$0.65/SF

EGI

$16.1K $14.83/SF

− OpEx

−$4.8K −$4.45/SF

NOI

$11.3K $10.38/SF

Area

Van Buren County, MI

Vacancy

4.20%

Lease Rate

$15.48 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$225,880

Cap Rate 7%

$161,343

Cap Rate 9%

$125,489

Alternative Uses

Best Use

Retail

$161.3K

$141.2K – $188.2K (±1% cap)

NOI $11,294 @ 7.0% cap · market cap 5.68%

Second Best

Office B

$159.3K

$139.4K – $185.9K (±1% cap)

NOI $11,152 @ 7.0% cap · market cap 5.60%

Theoretical Best

Multifamily LT 5

$13.45M

$11.77M – $15.70M (±1% cap)

NOI $941,705 @ 7.0% cap · market cap 473.22%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

OMNI Community Credit ... Credit Union

Suggested Use

Top Pick Real Estate Agency Building Supply Law Firm Parking Lot & Garage HVAC Service Auto Parts Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

208

Businesses Nearby

Explore this area Business Placement

Demographics for 49013, MI

5,175

Population

2,045

Households

2.5

Avg Household Size

39

Median Age

16%

College-Educated

80%

High-School Grad

57.0 sq mi

ZIP Area

91

Density / Sq Mi

$58,264

Median Household Income

$33,589

Median Earnings

$757

Median Rent

$140,100

Median Home Value

Market

Vacancy Rate% for Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this office units located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Office units - Downtown commercial space with a private office, kitchenette, restroom, signage, and access to a municipal parking lot.

Where is this office units located?

The property is located at 101 W Monroe St Bangor, MI.

What is the asking price?

The asking price for this property is $199,000.

What are key features of this property?

This property features: 1,088 SF former bank building constructed in 1976; One private office, kitchenette, and one bathroom; Drive‑through access supports the existing layout