Flex Service Facility with Outdoor
For Sale
$950,000
6264 King Hwy, Kalamazoo, MI 49048
Versatile flex/service building on Kings Highway with outdoor parking and storage for contractor and light industrial operations.
Property Size5,213 SF
Lot Size0.98 Acres
Price / SF$182.24
Days on Market80
Property Features for 6264 King Hwy
General Information
Standard status
Active
Size
5,213 SF
Lot size
0.98 Acres
Property subtype
Commercial
Zoning
CC - Comstock Center
Additional Details
Traffic Count
9,297 vehicles/day
Taxes and HOA fees
Annual Taxes
$3,091
Building Details
Year Built
1986
Units
1
Listing Agency:
NAI Wisinski of West Michigan
(269) 353-0311
Listed By:
Kara Schroer · License #6501373674
(269) 353-0311
Source:
Elliman
Added: Jun 3
Changed: Aug 21
Last Checked: Aug 21 at 12:22PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of NAI Wisinski of West Michigan
Investment Insights
Based on property information with market context.
This flex/service facility offers a practical layout for service, contractor, light industrial, flex, warehouse, or specialty trade use. The property includes a well-maintained 5,213 SF building configured to support day-to-day operations, along with ample outdoor parking and storage options for fleet vehicles, equipment, and materials. The site provides flexibility for users who need both covered space and exterior room for operational needs.
Located directly on Kings Highway in Comstock Township, the property benefits from strong visibility and convenient access to major transportation corridors. Public data provided indicates steady daily traffic counts of 9,297 vehicles per day on Kings Highway (MDOT ’24), supporting both customer-facing service use and efficient regional connectivity.
Zoned CC – Comstock Center, the property may suit owner-users and investors seeking a functional facility with on-site exterior storage capabilities. With its combination of flexible interior use and dedicated outdoor space, it is particularly relevant for operators who want a single property to support warehousing, light industrial work, and equipment staging in an accessible, high-visibility setting.
Located directly on Kings Highway in Comstock Township, the property benefits from strong visibility and convenient access to major transportation corridors. Public data provided indicates steady daily traffic counts of 9,297 vehicles per day on Kings Highway (MDOT ’24), supporting both customer-facing service use and efficient regional connectivity.
Zoned CC – Comstock Center, the property may suit owner-users and investors seeking a functional facility with on-site exterior storage capabilities. With its combination of flexible interior use and dedicated outdoor space, it is particularly relevant for operators who want a single property to support warehousing, light industrial work, and equipment staging in an accessible, high-visibility setting.
Key Highlights
- Flex/service facility built in 1986 with 5,213 SF versatile space for service, contractor, light industrial, flex, warehouse, or specialty trades
- Approximately 0.98‑acre lot with ample outdoor parking and outdoor storage options for fleet vehicles, equipment, or materials
- Located directly on Kings Highway with strong visibility and convenient access to major transportation corridors
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$78,638
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.28%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,572,760
$1.6M
Cap Rate 7%
$1,123,400
$1.1M
Cap Rate 9%
$873,756
$873.8K
Market Conditions
NOI Build-Up for 5,213 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$115.1K $22.08/SF
− Vacancy
−$2.8K −$0.53/SF
EGI
$112.3K $21.55/SF
− OpEx
−$33.7K −$6.47/SF
NOI
$78.6K $15.09/SF
Area
Kalamazoo County, MI
Vacancy
2.40%
Lease Rate
$22.08 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,572,760
Cap Rate 7%
$1,123,400
Cap Rate 9%
$873,756
Alternative Uses
Best Use
Warehouse
$1.36M
$1.19M – $1.59M
NOI $95,489 @ 7.0% cap · market cap 10.05%
Second Best
Industrial
$1.12M
$983.0K – $1.31M
NOI $78,638 @ 7.0% cap · market cap 8.28%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
9,297 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
127
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 49048, MI
25,067
Population
10,440
Households
2.4
Avg Household Size
36
Median Age
25%
College-Educated
90%
High-School Grad
35.1 sq mi
ZIP Area
714
Density / Sq Mi
$62,160
Median Household Income
$36,150
Median Earnings
$1,032
Median Rent
$158,300
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Versatile flex/service building on Kings Highway with outdoor parking and storage for contractor and light industrial operations.
Where is this flex space located?
The property is located at 6264 King Hwy Kalamazoo, MI.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Flex/service facility built in 1986 with 5,213 SF versatile space for service, contractor, light industrial, flex, warehouse, or specialty trades; Approximately 0.98‑acre lot with ample outdoor parking and outdoor storage options for fleet vehicles, equipment, or materials; Located directly on Kings Highway with strong visibility and convenient access to major transportation corridors
