Office Building with Leaseback
For Sale
$725,000
1522 Gull Road, Kalamazoo, MI 49048
Commercial Sale, Kalamazoo, MI
Property Size3,200 SF
Lot Size0.38 Acres
Price / SF$226.56
Days on Market263
Property Features for 1522 Gull Road
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
5
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bathroom 1, Bathroom 3
Parking
30
Interior features
Broadband
Elementary school district
Kalamazoo
Middle school district
Kalamazoo
High school district
Kalamazoo
Directions
north of Riverview Dr Across from Beacon
Subdivision
Greater Kalamazoo - K
Standard status
Active
APN
06-11-389-004
Size
3,200 SF
Lot size
0.38 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
PART OF SECTION 11-2-11 BEGINNING ON THE SOUTH LINE OF GULL STREET AT A POINT S 57DEG 58MIN W 129.46FT FROM THE INTERSE
Tax Annual Amount
6000
Legal Description
PART OF SECTION 11-2-11 BEGINNING ON THE SOUTH LINE OF GULL STREET AT A POINT S 57DEG 58MIN W 129.46FT FROM THE INTERSE
Utilities
Utilities
Cable Available
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1954
Number of units
2
Building materials
Block, Stone
Roof type
Rubber
Listing Agency:
CENTURY 21 C. Howard
(269) 381-9258
Listed By:
David Howard
(269) 207-4228
Added: Jan 15
Changed: Sep 16
Last Checked: Oct 5 at 4:06PM
MLS# 26001879
Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3,200-square-foot office building was constructed in 1954 on a 0.38-acre parcel. The property includes three bathrooms and is built with block and stone materials beneath a rubber roof. Interior features include broadband access, while forced-air heating and central air conditioning support year-round building use.
Located at 1522 Gull Road in Kalamazoo, Michigan, the property also has cable availability. The seller would like to lease the property back, creating a potential leaseback structure for a purchaser.
Located at 1522 Gull Road in Kalamazoo, Michigan, the property also has cable availability. The seller would like to lease the property back, creating a potential leaseback structure for a purchaser.
Key Highlights
- 3,200‑square‑foot office building on a 0.38‑acre parcel
- Seller would like to lease back the property
- Constructed in 1954 with block and stone materials
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,072
Cap Rate
4.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$641,440
$641.4K
Cap Rate 7%
$458,171
$458.2K
Cap Rate 9%
$356,356
$356.4K
Market Conditions
NOI Build-Up for 3,200 SF
Gross rent
$46.1K $14.40/SF
− Vacancy
−$3.3K −$1.04/SF
EGI
$42.8K $13.36/SF
− OpEx
−$10.7K −$3.34/SF
NOI
$32.1K $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 Rate 5%
$641,440
Cap Rate 7%
$458,171
Cap Rate 9%
$356,356
Alternative Uses
Best Use
Office B
$458.2K
$400.9K – $534.5K
NOI $32,072 @ 7.0% cap · market cap 4.42%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$837.4K
$732.7K – $976.9K
NOI $58,616 @ 7.0% cap · market cap 8.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,111
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office building - Freestanding office property with broadband access, forced-air heating, and central air conditioning.
Where is this office building located?
The property is located at 1522 Gull Road Kalamazoo, MI.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: 3,200‑square‑foot office building on a 0.38‑acre parcel; Seller would like to lease back the property; Constructed in 1954 with block and stone materials
