Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search

    137 N Park St, Unit 104 Kalamazoo, MI 49007

    View on Map
    Sponsored
    For Lease
    $38 SF/Yr

    COMMERCIAL - Kalamazoo, MI

    Type:Office
    Property size:
    125 SF
    Lot size:
    0.21 Acres
    Days on Market:
    16
    Last Refresh:
    Mar 11 at 11:06 am

    Property Features for 137 N Park St

    General Information

    Property type
    Commercial Lease
    Property subtype
    Office
    Standard status
    Active
    APN
    06-15-321-700
    Fireplace
    1
    Size
    125 SF
    Lot size
    0.21 Acres

    Utilities

    Utilities
    Cable Available
    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1972

    We can help!

    Listing Contact
    Connor Schultze

    NAI Wisinski of West Michigan (269) 353-0311

    Listing agent Connor Schultze (269) 370-6437

    Listing date Feb 23, 2026

    MLS# 26001370

    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.

    Learn more

    Property Insight Report

    Overview

    Downtown Kalamazoo Office Space Available

    This commercial property is located in downtown Kalamazoo, Michigan. The property offers office space with monument signage and free parking. It is situated across from a new arena currently under construction. The available office suites are suitable for immediate occupancy. The property is ideal for independent professionals, startups, or satellite teams. The property has a lot size of 0.21 acres. The property has 125 square feet of space.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    The Law Office of Marc ... Law Firm The HobbyMasters LLC (Bike/Boat/Book/etc) Store Ashley Klaasen Photography (Bike/Boat/Book/etc) Store Kalamazoo Probate Attorney-Law ... Law Firm Robert J. Barnard ... Law Firm

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply 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.

    Location Insight

    • Map
    • Local Demand
    City
    Kalamazoo
    County
    Kalamazoo
    State
    Michigan
    Longitude
    -85.587675
    Latitude
    42.292356

    Nearby Similar for Lease

    • $21 SF/Yr
      2,800 SF

      Restored Retail/Office Space, Kalamazoo

      Versatile 2,800 SF retail/office space in downtown Kalamazoo.
      925 S Burdick St, Kalamazoo, MI 49001
      View Details
    • $9 SF/Yr
      11,500 SF

      Retail Endcap Suite in Kalamazoo

      Retail space in a highly visible, conveniently located Kalamazoo center.
      4217 Portage St, Kalamazoo, MI 49001
      View Details
    • $10 SF/Yr
      1,200 SF

      Functional Office Suite in Kalamazoo

      Affordable 1,200 SF office suite with ample parking.
      2650 Millcork St, Kalamazoo, MI 49001
      View Details
    • $20 SF/Yr
      1,928 SF

      Renovated Office Space in Kalamazoo

      Professional office building renovated in 2021, convenient location.
      1900 Whites Rd, Kalamazoo, MI 49008
      View Details
    • $20 SF/Yr
      2,500 SF

      Modern Office Space with Courtyard

      Renovated office space with courtyard near Downtown Kalamazoo.
      501 W Willard St, Kalamazoo, MI 49007
      View Details
    • $2,800 /Mo
      3,000 SF

      Versatile Flex Building in Kalamazoo

      14,976 SF flex building with highway access.
      3408 Miller Rd, Kalamazoo, MI 49001
      View Details
    • $7 SF/Yr
      7,000 SF

      Kalamazoo Office Space Available

      Office space for rent in Kalamazoo, Michigan.
      622 W Kalamazoo Ave, Kalamazoo, MI 49007
      View Details
    • $24 SF/Yr
      329 SF

      Downtown Kalamazoo Office Space Available

      Highly visible office space in downtown Kalamazoo, near new arena.
      137 N Park St, Kalamazoo, MI 49007
      View Details
    • $23 SF/Yr
      290 SF

      Downtown Kalamazoo Office Space Available

      Highly visible office space in downtown Kalamazoo, near new arena.
      137 N Park St, Kalamazoo, MI 49007
      View Details
    • $5 SF/Yr
      12,780 SF

      Kalamazoo Industrial Building For Lease

      12,780 SF industrial building with office space for lease.
      1330 Healy St, Kalamazoo, MI 49048
      View Details
    • $1,650 /Mo
      1,191 SF

      Turnkey Office/Retail Space Near Universities

      1,191 SF office/retail space near Western Michigan University.
      1128 W Michigan Ave, Kalamazoo, MI 49006
      View Details
    • $10 SF/Yr
      7,100 SF

      Kalamazoo Office Building For Rent

      7100 sq ft Kalamazoo office building, potential for two units.
      458 W South St, Kalamazoo, MI 49007
      View Details

    FAQs

    What type of property is this?
    Office units - Highly visible office space in downtown Kalamazoo near new arena.
    Where is this office units located?
    The property is located at 137 N Park St, Unit 104 Kalamazoo, MI.
    What is the lease rate?
    The lease rate is $38 SF/Yr.
    What are key features of this property?
    This property features: - Highly visible office location in downtown Kalamazoo, directly across from the new arena.; - Free parking available.; - Variety of single, private office suites for immediate occupancy.
    (269) 370-6437
    Request Owner's contact information
    137 N Park St, Unit 104 Kalamazoo, MI 49007
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    137 N Park St, Unit 104
    Kalamazoo, MI 49007
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    137 N Park St, Unit 104 Kalamazoo, MI 49007
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Connor Schultze
    (269) 370-6437 (269) 353-0311 (616) 776-0100
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!