Freestanding Office
For Sale
$249,900
1516 Trimble Avenue, Kalamazoo, MI 49048
Corner positioning places the property within walking distance of Beacon Kalamazoo.
Property Size2,213 SF
Days on Market48
Property Features for 1516 Trimble Avenue
General Information
Standard status
Active
Size
2,213 SF
Total Parking Spaces
15
Property subtype
Commercial
Zoning
Commercial
Taxes and HOA fees
Annual Taxes
$7,416
Building Details
Building Size
2,213 SF
Year Built
1951
Units
1
Listing Agency:
Chuck Jaqua, REALTOR
(269) 217-9878
Listed By:
Joanne K Becker · License #6502342093
(269) 217-9878
Source:
Carolbollo
Added: Jul 14
Changed: Aug 28
Last Checked: Aug 29 at 10:21AM
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 Chuck Jaqua, REALTOR
Investment Insights
Based on property information with market context.
This freestanding office property was constructed in 1951 and occupies the corner of Gull Road and Trimble Avenue. Its standalone configuration provides a clear commercial identity separate from surrounding buildings.
The property is within walking distance of Beacon Kalamazoo, identified in the source information as formerly Borgess Hospital. The parcel situated in front of the building along Gull Road is not owned by the seller and should be considered when evaluating the site.
The property is within walking distance of Beacon Kalamazoo, identified in the source information as formerly Borgess Hospital. The parcel situated in front of the building along Gull Road is not owned by the seller and should be considered when evaluating the site.
Key Highlights
- Freestanding office building constructed in 1951
- Located at the corner of Gull Road and Trimble Avenue
- Within walking distance of Beacon Kalamazoo, formerly Borgess Hospital
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
$22,180
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
8.88%
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%
$443,600
$443.6K
Cap Rate 7%
$316,857
$316.9K
Cap Rate 9%
$246,444
$246.4K
Market Conditions
NOI Build-Up for 2,213 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
$31.9K $14.40/SF
− Vacancy
−$2.3K −$1.04/SF
EGI
$29.6K $13.36/SF
− OpEx
−$7.4K −$3.34/SF
NOI
$22.2K $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%
$443,600
Cap Rate 7%
$316,857
Cap Rate 9%
$246,444
Alternative Uses
Best Use
Office B
$316.9K
$277.3K – $369.7K
NOI $22,180 @ 7.0% cap · market cap 8.88%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$579.1K
$506.7K – $675.6K
NOI $40,537 @ 7.0% cap · market cap 16.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,064
Businesses Nearby
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 Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Corner positioning places the property within walking distance of Beacon Kalamazoo.
Where is this office building located?
The property is located at 1516 Trimble Avenue 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: Freestanding office building constructed in 1951; Located at the corner of Gull Road and Trimble Avenue; Within walking distance of Beacon Kalamazoo, formerly Borgess Hospital
