Freestanding Single-Story Office
New
For Sale
$125,000
1707 Miller Road, Kalamazoo, MI 49001
Commercial Sale, Kalamazoo, MI
Property Size1,004 SF
Lot Size0.60 Acres
Price / SF$124.50
Days on Market2
Property Features for 1707 Miller Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
CC2
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Parking
12
Elementary school district
Kalamazoo
Middle school district
Kalamazoo
High school district
Kalamazoo
Standard status
Active
APN
06-26-271-013
Size
1,004 SF
Lot size
0.60 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Section 26-2-11 ELMWOOD PLAT, Liber 14 of Plats Page 28; Lot 11 in Block 10. Lot 12 in Block 10.
Tax Annual Amount
4545
Legal Description
Section 26-2-11 ELMWOOD PLAT, Liber 14 of Plats Page 28; Lot 11 in Block 10. Lot 12 in Block 10.
Utilities
Utilities
Phone Available
Heating system
Forced Air
Building Details
Year built
1984
Number of units
1
Building materials
Vinyl Siding
Roof type
Composition
Listing Agency:
O'Brien Real Estate
(269) 381-6470
Listed By:
Pat O'Brien · License #6502102326
(330) 448-8343
Added: Sep 11
Last Checked: Sep 12 at 7:06AM
MLS# 26048524
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 freestanding, single-story office building contains 1,004 square feet and was built in 1984. The property features vinyl siding, a composition roof, forced-air heating, one bathroom, and a 0.6-acre lot. Phone service is available, and the building is positioned for professional office or other commercial use.
Located on Miller Road in Kalamazoo, the property provides customer access and on-site parking. Its standalone configuration offers an efficient footprint for an owner-user or commercial operator seeking an established building with existing site improvements.
Located on Miller Road in Kalamazoo, the property provides customer access and on-site parking. Its standalone configuration offers an efficient footprint for an owner-user or commercial operator seeking an established building with existing site improvements.
Key Highlights
- 1,004‑square‑foot freestanding office building
- 0.6‑acre lot with on‑site parking
- Single‑story layout with one bathroom
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
$10,062
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
8.05%
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%
$201,240
$201.2K
Cap Rate 7%
$143,743
$143.7K
Cap Rate 9%
$111,800
$111.8K
Market Conditions
NOI Build-Up for 1,004 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
$14.5K $14.40/SF
− Vacancy
−$1.0K −$1.04/SF
EGI
$13.4K $13.36/SF
− OpEx
−$3.4K −$3.34/SF
NOI
$10.1K $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%
$201,240
Cap Rate 7%
$143,743
Cap Rate 9%
$111,800
Alternative Uses
Best Use
Office B
$143.7K
$125.8K – $167.7K
NOI $10,062 @ 7.0% cap · market cap 8.05%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$262.7K
$229.9K – $306.5K
NOI $18,391 @ 7.0% cap · market cap 14.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
325
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
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?
Office building - Vinyl-sided office property with on-site parking, forced-air heating, and convenient customer access.
Where is this office building located?
The property is located at 1707 Miller Road Kalamazoo, MI.
What is the asking price?
The asking price for this property is $125,000.
What are key features of this property?
This property features: 1,004‑square‑foot freestanding office building; 0.6‑acre lot with on‑site parking; Single‑story layout with one bathroom
