Freestanding Retail-Office
For Sale
$599,000
1367 Portage Street, Kalamazoo, MI 49001
Freestanding 4,200 SF retail/office building with convenient on-site parking and access from Portage Street.
Property Size4,200 SF
Price / SF$142.62
Days on Market213
Property Features for 1367 Portage Street
General Information
Standard status
Active
Size
4,200 SF
Property subtype
Retail
Zoning
N-NODE
Building Details
Building Size
4,200 SF
Listing Agency:
Colliers Lansing
(517) 303-5554
Listed By:
Shawn H. O'Brien · License #6502358107
(517) 303-5554
Source:
Cpix.resimplifi
Added: Jan 20
Changed: Aug 8
Last Checked: Aug 21 at 3:54AM
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 Colliers Lansing
Investment Insights
Based on property information with market context.
This freestanding retail/office building offers approximately 4,200 square feet of space for an owner or tenant looking for a standalone setup. The property includes convenient on-site parking and direct, easy ingress and egress from Portage Street.
The asset is positioned along a major commuter route with published traffic counts of 9,544 VPD on Portage Street and 7,380 VPD on Stockbridge Avenue, supporting strong day-to-day visibility. The offering also references additional land parcels available for sale.
The additional land is described as two parcels (Parcel A at 0.12 acres and Parcel B at 0.13 acres), which may appeal to buyers considering expansion or development options alongside the primary building.
The asset is positioned along a major commuter route with published traffic counts of 9,544 VPD on Portage Street and 7,380 VPD on Stockbridge Avenue, supporting strong day-to-day visibility. The offering also references additional land parcels available for sale.
The additional land is described as two parcels (Parcel A at 0.12 acres and Parcel B at 0.13 acres), which may appeal to buyers considering expansion or development options alongside the primary building.
Key Highlights
- 4,200 SF freestanding retail/office building available
- High‑traffic location on Portage Street with 9,544 VPD
- Also near Stockbridge Avenue with 7,380 VPD
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
$42,094
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
7.03%
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%
$841,880
$841.9K
Cap Rate 7%
$601,343
$601.3K
Cap Rate 9%
$467,711
$467.7K
Market Conditions
NOI Build-Up for 4,200 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
$60.5K $14.40/SF
− Vacancy
−$4.4K −$1.04/SF
EGI
$56.1K $13.36/SF
− OpEx
−$14.0K −$3.34/SF
NOI
$42.1K $10.02/SF
Area
Kalamazoo County, MI
Vacancy
7.20%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
25.00%
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%
$841,880
Cap Rate 7%
$601,343
Cap Rate 9%
$467,711
Alternative Uses
Best Use
Office B
$601.3K
$526.2K – $701.6K
NOI $42,094 @ 7.0% cap · market cap 7.03%
Second Best
Retail
$413.8K
$362.1K – $482.8K
NOI $28,965 @ 7.0% cap · market cap 4.84%
Theoretical Best
Warehouse
$1.10M
$961.7K – $1.28M
NOI $76,934 @ 7.0% cap · market cap 12.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
486
Businesses Nearby
Explore this area
Business Placement
Demographics for 49001, MI
21,730
Population
9,670
Households
2.2
Avg Household Size
34
Median Age
30%
College-Educated
89%
High-School Grad
7.7 sq mi
ZIP Area
2,822
Density / Sq Mi
$52,327
Median Household Income
$35,447
Median Earnings
$1,055
Median Rent
$139,600
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Freestanding 4,200 SF retail/office building with convenient on-site parking and access from Portage Street.
Where is this retail space located?
The property is located at 1367 Portage Street Kalamazoo, MI.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 4,200 SF freestanding retail/office building available; High‑traffic location on Portage Street with 9,544 VPD; Also near Stockbridge Avenue with 7,380 VPD
