Renovated Flex Building with Heavy
For Sale
$1,376,000
1725 S Park Street, Kalamazoo, MI 49001
Office, laboratory, and shop areas are arranged within a flexible commercial floor plan.
Property Size16,190 SF
Lot Size1.28 Acres
Price / SF$84.99
Days on Market51
Property Features for 1725 S Park Street
General Information
Standard status
Active
Size
16,190 SF
Lot size
1.28 Acres
Property subtype
Commercial
Warehouse & Industrial
Drive-In Doors
2
Power
1,000 amps
Voltage
208 V
Heavy Power
Yes
Taxes and HOA fees
Annual Taxes
$51,485
Amenities
key fob-secured entry
Building Details
Building Size
16,190 SF
Year Built
1989
Year Renovated
2014
Buildings
1
Stories
16190
Units
1
Listing Agency:
NAI Wisinski of West Michigan
(269) 353-0311
Listed By:
Jodi K Milks · License #6501373674
Source:
Erareardonrealty
Added: Jul 10
Changed: Aug 28
Last Checked: Aug 29 at 10:20AM
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 NAI Wisinski of West Michigan
Investment Insights
Based on property information with market context.
This 16,190 SF flex property combines office, laboratory, shop, and former optical lab areas within a freestanding building on 1.28 acres. Renovated in 2014, the facility includes updated systems, 1,000 Amps (120/208V) of power, and key fob-secured entry. Two grade-level overhead doors, measuring 18’ x 9’ and 10’ x 9’, support shipping and receiving activity.
Located at 1725 S Park St in Kalamazoo, the property is minutes from Downtown Kalamazoo, the new arena development, WMED campus, Western Michigan University, and Kalamazoo College. The site is zoned RS-5. A new Reciprocal Easement Agreement will be established before closing, and adjacent buildings are also available for sale and lease.
Located at 1725 S Park St in Kalamazoo, the property is minutes from Downtown Kalamazoo, the new arena development, WMED campus, Western Michigan University, and Kalamazoo College. The site is zoned RS-5. A new Reciprocal Easement Agreement will be established before closing, and adjacent buildings are also available for sale and lease.
Key Highlights
- 16,190 SF flex building on 1.28 acres
- Renovated in 2014 with updated systems
- 1,000 Amps (120/208V) of heavy power
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
Industrial
$3.49M
$3.05M – $4.07M
NOI $244,227 @ 7.0% cap · market cap 17.75%
Second Best
Office B
$2.32M
$2.03M – $2.70M
NOI $162,263 @ 7.0% cap · market cap 11.79%
Theoretical Best
Warehouse
$4.24M
$3.71M – $4.94M
NOI $296,561 @ 7.0% cap · market cap 21.55%
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 Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Generations Catering — 918 Jasper St, Kalamazoo, MI 49001
Frequently Asked Questions
What type of property is this?
Flex space - Office, laboratory, and shop areas are arranged within a flexible commercial floor plan.
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 flex building on 1.28 acres; Renovated in 2014 with updated systems; 1,000 Amps (120/208V) of heavy power
