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

    743 Academy St Kalamazoo, MI 49007

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $249,900

    Duplex near Kalamazoo College and Downtown. City Rental Certified.

    Lot size:
    0.12 Acres

    Property Features for 743 Academy St

    General Information

    Property type
    Investment
    Standard status
    Active
    Lot size
    0.12 Acres

    Building Details

    Year built
    1887

    We can help!

    Listing Contact
    Joseph Lukeman
    Source: Elliman

    Listing Agency: Lukeman Group LLC Listing Agent: Joseph Lukeman

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

    Learn more

    Overview

    Vine Neighborhood Historic Duplex

    Located in the Vine Neighborhood, this historic duplex is within walking distance of Kalamazoo College, Downtown Kalamazoo, and the upcoming Arena. Unit 1 features 3 bedrooms and 1 bathroom and is currently rented for $1400. Unit 2 offers 4 bedrooms and 2 bathrooms and was recently leased for $1,400. The property has split gas and electric utilities. The landlord is responsible for water, sewer, trash, lawn, and snow removal. Both units have access to a washer and dryer in the basement. The property is City Rental Certified through April 30, 2027. The building's exterior was fully painted in 2023. Unit #1 has a remodeled kitchen, and Unit #2 has a remodeled bathroom.
    Location Intelligence

    Current Use by Public Records

    Duplexes

    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
    -85.5936
    Latitude
    42.290386

    Nearby Similar for Sale

    • $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
    • $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
    • $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
    • New
      $375,000
      1,982 SF

      Retail Space on Kalamazoo Mall

      Retail space in downtown Kalamazoo with high foot traffic.
      217 S Kalamazoo Mall, Kalamazoo, MI 49007
      View Details
    • $650,000
      5,153 SF

      Kalamazoo Retail/Professional Services Space

      Remodeled retail/professional space with high visibility and ample parking.
      4413 W Kl Ave, Kalamazoo, MI 49007
      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
    • $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
    • $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
    • $975,000
      23,700 SF

      Kalamazoo Manufacturing Facility on 3.6 Acres

      23,700 SF Kalamazoo manufacturing facility with office space for sale.
      2429 N Burdick St, Kalamazoo, MI 49007
      View Details
    • $475,000
      3,696 SF

      Kalamazoo Warehouse with Office Space

      3,696 sq ft building with showroom, offices, and warehouse.
      550 E Cork St, Kalamazoo, MI 49001
      View Details
    • $850,000
      3,800 SF

      Downtown Kalamazoo Investment Opportunity

      Turnkey investment opportunity in the heart of Downtown Kalamazoo.
      603 N Burdick St, Kalamazoo, MI 49007
      View Details

    FAQs

    What type of property is this?
    Duplex - Duplex near Kalamazoo College and Downtown. City Rental Certified.
    Where is this duplex located?
    The property is located at 743 Academy St Kalamazoo, MI.
    What is the asking price?
    The asking price for this property is $249,900.
    What are key features of this property?
    This property features: - Prime Downtown Kalamazoo location, walk to Kalamazoo College and the upcoming Arena.; - City Rental Certified through April 30, 2027.; - Two income-generating units, currently leased at $1,400 each.
    (269) 598-6567
    Request Owner's contact information
    743 Academy St 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.
    743 Academy St
    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
    743 Academy St 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
    Joseph Lukeman
    Real Estate License ID: 6501349281
    (269) 598-6567
    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!