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

    1020 S Westnedge Ave Kalamazoo, MI 49008

    View on Map
    Loading data...
    Loading data...
    Loading data...
    Pending
    $425,000

    Iconic building suitable for various service-based businesses and residential opportunities.

    Property size:
    4,662 SF
    Lot size:
    0.44 Acres

    Property Features for 1020 S Westnedge Ave

    General Information

    Standard status
    Pending
    Size
    4,662 SF
    Lot size
    0.44 Acres

    Building Details

    Year built
    1966

    We can help!

    Listing Contact
    Kim S Toogood
    Kim S Toogood
    Source: Exitrealty

    Listing Agency: CENTURY 21 Affiliated Listing Agent: Kim S Toogood

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

    Learn more

    Property Insight Report

    Overview

    Versatile Commercial Building in Kalamazoo

    This iconic building, featuring a mid-century modern design with large, inviting windows and a sleek flat roof, is located in a prime downtown location. The property is zoned LW-1, making it suitable for a variety of service-based businesses, including day care centers, non-profit spaces, law firms, accounting firms, and taverns, and also offers residential opportunities. The flexible zoning allows for a multitude of uses, as detailed in the City of Kalamazoo's General Provisions for approved uses. The interior is thoughtfully laid out over two levels, including multiple offices; currently configured with 7 office spaces, with the capacity to have 14, two spacious conference rooms, a kitchenette, and a formal entry. The building's walls can be removed to create a vast open space. With a property size of 4662 square feet, this property represents an investment opportunity for those looking to establish or expand their business.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Polasek Jr Emery ... Pediatrician Joseph S. Johnson, ... Counselor Melody Sprowl, LPN Registered General Nurse Blankenship David P Counselor Currin Sheila K Physician

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Kalamazoo
    County
    Kalamazoo
    State
    Michigan
    Longitude
    -85.589869
    Latitude
    42.301158

    Nearby Similar for Sale

    • New
      $895,000
      7,000 SF

      Kalamazoo Office/Flex Building For Sale

      7,000 SF office/flex building on 4-acre wooded parcel.
      8240 Stadium Dr, Kalamazoo, MI 49009
      View Details
    • $1,095,000
      Pending

      Updated Office and Warehouse Space

      8,800 SF building with updated office and warehouse space.
      2960 Interstate Pkwy, Kalamazoo, MI 49048
      View Details
    • $450,000
      1,658 SF

      Remodeled Office Condo with Views

      Downtown Kalamazoo office condo with rooftop patio and city views.
      107 W Michigan Ave, Kalamazoo, MI 49007
      View Details
    • $650,000
      12,100 SF

      Redevelopment Opportunity Near I-94

      12,100 SF building primed for redevelopment in Kalamazoo.
      3635 E Cork St, Kalamazoo, MI 49001
      View Details
    • $749,900
      12,100 SF

      Kalamazoo Commercial Property For Sale

      12,100 SF building on 2.4 acres near I-94.
      3635 E Cork St, Kalamazoo, MI 49001
      View Details
    • $329,900
      4,100 SF

      Kalamazoo Bar/Restaurant Opportunity

      Turn-key bar/restaurant in high-traffic Kalamazoo location.
      3013 Oakland Dr, Kalamazoo, MI 49008
      View Details
    • $675,000
      7,000 SF

      Historic Restaurant with Pullman Railroad Car

      Iconic 1910 Pullman railroad car restaurant on 2.23 acres.
      6225 W D Ave, Kalamazoo, MI 49009
      View Details
    • $95,000
      Pending

      Kalamazoo Commercial/Industrial Property For Sale

      Commercial/industrial property with high visibility and flexible space in Kalamazoo, MI.
      1132 E Crosstown Pkwy, Kalamazoo, MI 49001
      View Details
    • $595,000
      6,440 SF

      Kalamazoo Office Building For Sale

      Centrally located office building suitable for medical or general office use.
      2401 Gull Rd, Kalamazoo, MI 49048
      View Details
    • $725,000
      3,200 SF

      Kalamazoo Commercial Property For Sale

      Commercial property in Kalamazoo, MI, with leaseback option.
      1522 Gull Rd, Kalamazoo, MI 49048
      View Details
    • $475,000
      1,903 SF

      Adaptable Retail/Office Space in Kalamazoo

      Class A space in Texas Corners, suitable for retail or office.
      8083 Vineyard Pkwy, Kalamazoo, MI 49009
      View Details
    • $475,000
      1,903 SF

      Adaptable Retail/Office Space in Kalamazoo

      Class A retail/office space in rapidly growing Texas Corners.
      8083 Vineyard Pkwy, Kalamazoo, MI 49009
      View Details

    FAQs

    What type of property is this?
    Office units - Iconic building suitable for various service-based businesses and residential opportunities.
    Where is this office units located?
    The property is located at 1020 S Westnedge Ave Kalamazoo, MI.
    What is the asking price?
    The asking price for this property is $425,000.
    What are key features of this property?
    This property features: - Flexible LW-1 zoning allows for diverse business and residential uses.; - Prime downtown location offers a remarkable investment opportunity.; - Iconic mid-century modern design with large windows and a sleek flat roof.
    (269) 598-0857
    Request Owner's contact information
    1020 S Westnedge Ave Kalamazoo, MI 49008
    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.
    1020 S Westnedge Ave
    Kalamazoo, MI 49008
    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
    1020 S Westnedge Ave Kalamazoo, MI 49008
    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
    Kim S Toogood
    Kim S Toogood
    Real Estate License ID: 6501404252
    (269) 598-0857 (269) 888-1900
    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!