Freestanding Office and Light Industrial
For Sale
$1,376,000
1725 S Park Street, Kalamazoo, MI 49001
COMMERCIAL - Kalamazoo, MI
Property Size16,190 SF
Lot Size1.28 Acres
Price / SF$84.99
Days on Market425
Property Features for 1725 S Park Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
CC2
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 1, Bathroom 4, Bathroom 2, Bathroom 3
Parking
36
Interior features
Broadband
Elementary school district
Kalamazoo
Middle school district
Kalamazoo
High school district
Kalamazoo
Directions
Off S. Park Street, 2 blocks north of Westnedge/Park split. Entrance is across from the end of Howard Street.
Subdivision
Greater Kalamazoo - K
Standard status
Active
APN
06-22-373-013
Size
16,190 SF
Lot size
1.28 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
That part of the Southwest quarter of Section 22, township 2 South, Range 11 West, described as: commencing at the Sout
Tax Annual Amount
51486
Legal Description
That part of the Southwest quarter of Section 22, township 2 South, Range 11 West, described as: commencing at the Sout
Utilities
Utilities
Phone Available
Heating system
Forced Air
Cooling system
Central Air
Amenities
key fob-secured entry
Building Details
Year built
1989
Number of units
1
Building materials
Aluminum Siding, Brick
Roof type
Composition
Listing Agency:
NAI Wisinski of West Michigan
(269) 353-0311
Listed By:
Jodi K Milks · License #6506044331
(269) 353-0311
Added: Jun 23, 2025
Changed: Aug 4
Last Checked: Aug 21 at 1:06AM
MLS# 25035394
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 office and light industrial building offers a combined office/lab/flex layout with former optical lab, shop space, and offices designed for flexibility. The property was renovated in 2014 and includes updated systems and key fob-secured entry. Heavy power is available, with 1,000 amps (120/208V). For operations that require direct loading access, the building features two grade-level overhead doors measuring 18' x 9' and 10' x 9'.
The property is located just minutes from Downtown Kalamazoo, the new arena development, WMED campus, Western Michigan University, and Kalamazoo College.
A new Reciprocal Easement Agreement will be established by the owner prior to closing. Adjacent buildings are also available for sale and lease.
The property is located just minutes from Downtown Kalamazoo, the new arena development, WMED campus, Western Michigan University, and Kalamazoo College.
A new Reciprocal Easement Agreement will be established by the owner prior to closing. Adjacent buildings are also available for sale and lease.
Key Highlights
- 16,190 SF freestanding office/lab/flex building on 1.28 acres, built in 1989
- Renovated in 2014 with updated systems and key fob‑secured entry
- Heavy power: 1,000 Amps (120/208V)
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
$109,209
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
7.94%
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%
$2,184,180
$2.2M
Cap Rate 7%
$1,560,129
$1.6M
Cap Rate 9%
$1,213,433
$1.2M
Market Conditions
NOI Build-Up for 16,190 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
$178.7K $11.04/SF
− Vacancy
−$10.7K −$0.66/SF
EGI
$168.0K $10.38/SF
− OpEx
−$58.8K −$3.63/SF
NOI
$109.2K $6.75/SF
Area
Kalamazoo County, MI
Vacancy
6.00%
Lease Rate
$11.04 /SF/Yr
Expense Ratio
35.00%
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%
$2,184,180
Cap Rate 7%
$1,560,129
Cap Rate 9%
$1,213,433
Alternative Uses
Best Use
Warehouse
$4.24M
$3.71M – $4.94M
NOI $296,561 @ 7.0% cap · market cap 21.55%
Second Best
Industrial
$3.49M
$3.05M – $4.07M
NOI $244,227 @ 7.0% cap · market cap 17.75%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Drive-in doors
Yes
Heavy power
Location Intelligence
Trade Area within ½ mile
665
Businesses Nearby
Under-served
Demand for This Use
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
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Renovated in 2014, this office/lab/flex facility includes secured entry and two grade-level overhead doors for shipping access.
Where is this flex space located?
The property is located at 1725 S Park Street Kalamazoo, MI.
What is the asking price?
The asking price for this property is $1,376,000.
What are key features of this property?
This property features: 16,190 SF freestanding office/lab/flex building on 1.28 acres, built in 1989; Renovated in 2014 with updated systems and key fob‑secured entry; Heavy power: 1,000 Amps (120/208V)
