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    2600 W Michigan Ave Kalamazoo, MI 49006

    For Sale
    $4,300,000

    Absolute net ground lease with CVS near Western Michigan University.

    Lot size:
    0.91 Acres

    Property Features for 2600 W Michigan Ave

    General Information

    Lot size
    0.91 Acres

    Source: Antonoff & Co. Brokerage Inc. Agent Jeffrey Hirschfeld

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    CVS Absolute Net Ground Lease

    This property features an absolute net ground lease with CVS, with approximately 16.5 years remaining. The primary term extends through January 31, 2042, and includes ten five-year options to extend, each with a 10% rental increase at the beginning of the option period. The property is situated on a 39,583 square foot lot and benefits from cross easement rights to the adjacent Campus Pointe Mall. It offers three points of ingress/egress into the overall shopping center, along with single lane "drive thru" access. The corner location is across from a main entrance to Western Michigan University. CVS is the largest drug store chain with the Top Pharmacy as ranked by prescription drug market share as of end of Qtr.1 2025 totaling approximately 33.80%. As of the end of 2024, global revenue totaled $372.8 Billion. CVS was ranked 6th on the Fortune 500 and 10th of the Fortune Global 500. In 2024, Fortune also ranked CVS Health the 32nd most admired companies in the world. CVS has an investment grade tenant rating with Moody's rating of Baa2 and S&P stable as of December, 2024.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    CVS Photo Passport Photo Processor CVS Drug Store CVS Pharmacy Pharmacy Knee Walker Rental ... Scooter Rental Service MoneyGram Money Transfer Service

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    OptiMed Pharmacy (Oakland Drive), Sheri M. St Clair, R, Cynthia L. Feucht, PharmD, Andrew J. Reeves, RPH, Wmed Family Medicine

    Location Insight

    • Map
    • Local Demand
    City
    Kalamazoo
    County
    Kalamazoo
    State
    Michigan
    Longitude
    -85.621643
    Latitude
    42.281668

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    FAQs

    What type of property is this?
    Drug store - Absolute net ground lease with CVS near Western Michigan University.
    Where is this drug store located?
    The property is located at 2600 W Michigan Ave Kalamazoo, MI.
    What is the asking price?
    The asking price for this property is $4,300,000.
    What are key features of this property?
    This property features: - Absolute Net Ground Lease with approximately 16.5 years remaining (primary term thru January 31, 2042).; - Investment Grade Tenant: CVS, with Moody's rating of Baa2 and S&P stable as of December, 2024.; - Strategic Corner Location: Across from a main entrance to Western Michigan University.
    (303) 454-5425
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    2600 W Michigan Ave Kalamazoo, MI 49006
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    Kalamazoo, MI 49006
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    Realmo Value Estimation

    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.

    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.

    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
    2600 W Michigan Ave Kalamazoo, MI 49006
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