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 Market56
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
Listed By:
David Howard
(269) 207-4228
Source:
Katie-k
Added: Aug 21
Changed: Oct 6
Last Checked: Oct 7 at 1:32PM
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 / Yr
$62,931
Cap Rate
5.24%
Suggested Prices Based on Cap Rates
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
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 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.
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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
Check the figures for this property
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?
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
