Storefront Property Near
For Sale
$1,200,000
1524 Gull Rd, Kalamazoo, MI 49048
Commercial storefront positioned across from Beacon Hospital and near family court.
Property Size6,279 SF
Price / SF$191.11
Days on Market11
Property Features for 1524 Gull Rd
General Information
Standard status
Active
Size
6,279 SF
Building Details
Year Built
1956
Listing Agency:
CENTURY 21 C. Howard
(269) 207-4228
Listed By:
David Howard
Source:
Katie-k
Added: Aug 21
Changed: Aug 30
Last Checked: Aug 30 at 7:09PM
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 CENTURY 21 C. Howard
Investment Insights
Based on property information with market context.
This 6,279-square-foot storefront property was built in 1956 and is situated at 1524 Gull Rd in Kalamazoo, Michigan. The property faces Beacon Hospital and sits in front of family court, providing a location defined by established institutional uses.
Key Highlights
- 6,279‑square‑foot storefront property
- Across from Beacon Hospital
- In front of family court
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
$62,931
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
5.24%
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%
$1,258,620
$1.3M
Cap Rate 7%
$899,014
$899.0K
Cap Rate 9%
$699,233
$699.2K
Market Conditions
NOI Build-Up for 6,279 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
$90.4K $14.40/SF
− Vacancy
−$6.5K −$1.04/SF
EGI
$83.9K $13.36/SF
− OpEx
−$21.0K −$3.34/SF
NOI
$62.9K $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%
$1,258,620
Cap Rate 7%
$899,014
Cap Rate 9%
$699,233
Alternative Uses
Best Use
Office B
$899.0K
$786.6K – $1.05M
NOI $62,931 @ 7.0% cap · market cap 5.24%
Second Best
Retail
$618.6K
$541.3K – $721.7K
NOI $43,302 @ 7.0% cap · market cap 3.61%
Theoretical Best
Warehouse
$1.64M
$1.44M – $1.92M
NOI $115,016 @ 7.0% cap · market cap 9.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,111
Businesses Nearby
Under-served
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 Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Commercial storefront positioned across from Beacon Hospital and near family court.
Where is this storefront property located?
The property is located at 1524 Gull Rd Kalamazoo, MI.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 6,279‑square‑foot storefront property; Across from Beacon Hospital; In front of family court
