Corner Retail
For Sale
$1,200,000
104 W Cork St, Kalamazoo, MI 49001
CC2-zoned commercial space occupies a prominent corner position in Kalamazoo.
Property Size8,304 SF
Price / SF$144.51
Days on Market320
Property Features for 104 W Cork St
General Information
Standard status
Active
Size
8,304 SF
Property subtype
Retail
Zoning
CC2
Additional Details
Corner Location
Yes
Amenities
Vacant
Building Details
Year Built
1968
Listing Agency:
CBRE
(616) 581-2434
Listed By:
Nathan Scherpenisse
(616) 581-2434
Source:
Carwm.resimplifi
Added: Oct 15, 2025
Changed: Aug 29
Last Checked: Aug 30 at 1:37PM
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 CBRE
Investment Insights
Based on property information with market context.
This retail space at 104 W Cork St offers 8,304 square feet within a building constructed in 1968. The property is identified as a former animal hospital and occupies a corner location, providing a defined commercial setting for evaluation by prospective users.
Zoned CC2, the property is situated in Kalamazoo, MI 49001. Its established building footprint and prior animal-care use provide key physical and historical context for future retail or other permitted commercial applications.
Zoned CC2, the property is situated in Kalamazoo, MI 49001. Its established building footprint and prior animal-care use provide key physical and historical context for future retail or other permitted commercial applications.
Key Highlights
- 8,304 square feet of retail space
- CC2 zoning
- Former animal hospital
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
$57,268
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
4.77%
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%
$1,145,360
$1.1M
Cap Rate 7%
$818,114
$818.1K
Cap Rate 9%
$636,311
$636.3K
Market Conditions
NOI Build-Up for 8,304 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
$99.6K $12.00/SF
− Vacancy
−$17.8K −$2.15/SF
EGI
$81.8K $9.85/SF
− OpEx
−$24.5K −$2.96/SF
NOI
$57.3K $6.90/SF
Area
Kalamazoo County, MI
Vacancy
17.90%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,145,360
Cap Rate 7%
$818,114
Cap Rate 9%
$636,311
Alternative Uses
Best Use
Retail
$818.1K
$715.9K – $954.5K
NOI $57,268 @ 7.0% cap · market cap 4.77%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$2.17M
$1.90M – $2.54M
NOI $152,109 @ 7.0% cap · market cap 12.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
416
Businesses Nearby
80k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 75%
Shops & Services 22%
Electronics 2%
Beauty & Spa 1%
McDonald's
Dining
17,006 visits/mo
0.4 miles
Taco Bell
Dining
12,369 visits/mo
0.4 miles
Shell
Shops & Services
10,482 visits/mo
0.2 miles
Burger King
Dining
9,260 visits/mo
0.4 miles
Dunkin' Donuts
Dining
7,477 visits/mo
0.4 miles
Demographics for 49001, MI
21,730
Population
9,670
Households
2.2
Avg Household Size
34
Median Age
30%
College-Educated
89%
High-School Grad
7.7 sq mi
ZIP Area
2,822
Density / Sq Mi
$52,327
Median Household Income
$35,447
Median Earnings
$1,055
Median Rent
$139,600
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - CC2-zoned commercial space occupies a prominent corner position in Kalamazoo.
Where is this retail space located?
The property is located at 104 W Cork St Kalamazoo, MI.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 8,304 square feet of retail space; CC2 zoning; Former animal hospital
