Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    821 E Centre Ave, Unit 2B Portage, MI 49002

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $23 SF/Yr

    Build-to-suit office space for lease in Portage, Michigan.

    Lot size:
    1.40 Acres

    Property Features for 821 E Centre Ave

    General Information

    Property type
    Commercial
    Standard status
    Active
    Lot size
    1.40 Acres

    Building Details

    Year built
    2026

    We can help!

    Listing Contact
    Kara Schroer
    Kara Schroer
    Source: Elliman

    Listing Agency: NAI Wisinski of West Michigan Listing Agent: Kara Schroer

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

    Learn more

    Overview

    Office Space in Portage, Michigan

    This build-to-suit office opportunity is located on Centre Ave in Portage, Michigan. The building will have up to four suites, each measuring approximately 2,500 square feet, accommodating tenants requiring spaces from 2,500 up to 11,000 square feet. The first-floor suite can feature a pick-up window. The property is zoned OS-1. Ample on-site parking is available.
    Location Intelligence

    Current Use by Public Records

    Office buildings

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Portage
    County
    Kalamazoo
    State
    Michigan
    Longitude
    -85.579956
    Latitude
    42.201714

    Nearby Similar for Lease

    • $18 SF/Yr
      Pending

      Portage Creek View Office Suite

      Lower-level office suite with creek views, suitable for professional uses.
      712 W Centre Ave, Portage, MI 49024
      View Details
    • $14 SF/Yr
      4,400 SF

      Renovated Office Space Available

      Recently renovated office space in Portage, divisible into two suites.
      4250 Commercial Ave, Portage, MI 49002
      View Details
    • $14 SF/Yr
      6,400 SF

      Renovated Office Space Available

      Recently renovated office space in Portage, Michigan, divisible into suites.
      4250 Commercial Ave, Portage, MI 49002
      View Details
    • $12 SF/Yr
      10,800 SF

      Renovated Office Space Available

      Recently renovated office space in Portage, near Kalamazoo Airport.
      4250 Commercial Ave, Portage, MI 49002
      View Details
    • $61 SF/Yr
      5,000 SF

      Milham Avenue Executive Office Space

      Executive office space for lease with included amenities.
      1400 W Milham Ave, Portage, MI 49024
      View Details
    • $61 SF/Yr
      5,000 SF

      Executive Office Space Available

      Executive office space for lease with included amenities.
      1400 W Milham Ave, Portage, MI 49024
      View Details
    • $61 SF/Yr
      5,000 SF

      Executive Office Space Available

      Executive office space for lease with included amenities and utilities.
      1400 W Milham Ave, Portage, MI 49024
      View Details
    • $61 SF/Yr
      5,000 SF

      Executive Office Space Available

      Executive office spaces for lease with included amenities and utilities.
      1400 W Milham Ave, Portage, MI 49024
      View Details
    • $11 SF/Yr
      9,010 SF

      Portage Commercial Space For Rent

      Flexible office/warehouse/retail space with easy highway access.
      2314 Helen Ave, Portage, MI 49002
      View Details
    • $10 SF/Yr
      14,589 SF

      Versatile Flex Space Near US-131

      Adaptable flex space ideal for various business needs near US-131.
      9340 Shaver Rd, Portage, MI 49024
      View Details
    • $8 SF/Yr
      14,589 SF

      Versatile Flex Space Near US-131

      Adaptable flex space ideal for storage, warehousing, or light assembly.
      9340 Shaver Rd Unit, Portage, MI 49024
      View Details
    • $15 SF/Yr
      1,439 SF

      Move-in Ready Portage Office Space

      Efficient 1,439 SF office space in Portage, Michigan.
      5096 Lovers Ln, Portage, MI 49002
      View Details

    FAQs

    What type of property is this?
    Office building - Build-to-suit office space for lease in Portage, Michigan.
    Where is this office building located?
    The property is located at 821 E Centre Ave, Unit 2B Portage, MI.
    What is the lease rate?
    The lease rate is $23 SF/Yr.
    What are key features of this property?
    This property features: - Build-to-suit office space allows customization.; - Flexible suite sizes from 2,500 to 11,000 SF.; - Prime business location on Centre Ave in Portage, Michigan.
    (269) 353-0311
    Request Owner's contact information
    821 E Centre Ave, Unit 2B Portage, MI 49002
    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.
    821 E Centre Ave, Unit 2B
    Portage, MI 49002
    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
    821 E Centre Ave, Unit 2B Portage, MI 49002
    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
    Kara Schroer
    Kara Schroer
    Real Estate License ID: 6501373674
    (269) 353-0311 (269) 569-0953 (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!