Freestanding Medical Office
For Sale
$949,000
1727 S Park Street, Kalamazoo, MI 49001
Commercial Sale, Kalamazoo, MI
Property Size8,505 SF
Lot Size0.86 Acres
Price / SF$111.58
Days on Market470
Property Features for 1727 S Park Street
General Information
Property type
Commercial Sale
Property subtype
Office
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
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
06-22-372-013
Size
8,505 SF
Lot size
0.86 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
That part of the Southwest quarter of Section 2 and the Northwest quarter of Section 27, Township 2 South, Range 11
Tax Annual Amount
32854
Legal Description
That part of the Southwest quarter of Section 2 and the Northwest quarter of Section 27, Township 2 South, Range 11
Utilities
Utilities
Phone Available
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
2001
Number of units
1
Building materials
Brick
Roof type
Composition
Listing Agency:
NAI Wisinski of West Michigan
(269) 353-0311
Listed By:
Jodi K Milks · License #6506044331
(269) 459-0439
Added: Jun 23, 2025
Changed: Sep 16
Last Checked: Oct 5 at 4:06PM
MLS# 25035380
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 medical office property contains 8,505 square feet on 0.86 acres. Built in 2001 and renovated in 2013, the brick building includes exam rooms, private offices, a sales floor, storage, and two bathrooms. Central air and forced-air heating support the interior, while broadband and phone service are available.
The property is located on S Park Street in Kalamazoo, near Downtown Kalamazoo, the new arena development, the WMED campus, Western Michigan University, and Kalamazoo College. Furniture is negotiable, and the owner will establish a new Reciprocal Easement Agreement before closing.
The property is located on S Park Street in Kalamazoo, near Downtown Kalamazoo, the new arena development, the WMED campus, Western Michigan University, and Kalamazoo College. Furniture is negotiable, and the owner will establish a new Reciprocal Easement Agreement before closing.
Key Highlights
- 8,505‑square‑foot freestanding building on 0.86 acres
- Built in 2001 and renovated in 2013
- Interior includes exam rooms, private offices, sales floor, storage, and two bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$85,241
Cap Rate
8.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,704,820
$1.7M
Cap Rate 7%
$1,217,729
$1.2M
Cap Rate 9%
$947,122
$947.1K
Market Conditions
NOI Build-Up for 8,505 SF
Gross rent
$122.5K $14.40/SF
− Vacancy
−$8.8K −$1.04/SF
EGI
$113.7K $13.36/SF
− OpEx
−$28.4K −$3.34/SF
NOI
$85.2K $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%
$1,704,820
Cap Rate 7%
$1,217,729
Cap Rate 9%
$947,122
Alternative Uses
Best Use
Office B
$1.22M
$1.07M – $1.42M
NOI $85,241 @ 7.0% cap · market cap 8.98%
Second Best
Healthcare Medical
$1.09M
$955.9K – $1.27M
NOI $76,468 @ 7.0% cap · market cap 8.06%
Theoretical Best
Warehouse
$2.23M
$1.95M – $2.60M
NOI $155,791 @ 7.0% cap · market cap 16.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
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
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?
Medical Office Space - Brick professional building with a flexible interior layout for medical, dental, or office use.
Where is this medical office space located?
The property is located at 1727 S Park Street Kalamazoo, MI.
What is the asking price?
The asking price for this property is $949,000.
What are key features of this property?
This property features: 8,505‑square‑foot freestanding building on 0.86 acres; Built in 2001 and renovated in 2013; Interior includes exam rooms, private offices, sales floor, storage, and two bathrooms
