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    Class A Office Building Title is generated by Realmo AI

    1825 S Park Street, Kalamazoo, MI 49001

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    Pending
    $3,175,000

    COMMERCIAL - Kalamazoo, MI

    Type:Office
    Property size:
    21,245 SF
    Lot size:
    5.18 Acres
    Added:
    Jun 23, 2025
    Days on Market:
    340
    Last Refresh:
    May 28 at 1:06 am

    Property Features for 1825 S Park Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Office
    Bathrooms
    4
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4
    Parking
    74351000
    Interior features
    Broadband
    Standard status
    Pending
    APN
    06-27-103-005
    Size
    21,245 SF
    Lot size
    5.18 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 Nor
    Tax Annual Amount
    82153

    Utilities

    Utilities
    Cable Available
    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    2017
    Number of units
    1

    We can help!

    Listing Contact
    Jodi K Milks

    Listing agent Jodi K Milks License #6502339107

    Listing office NAI Wisinski of West Michigan 650 Trade Centre Way, Ste 130, Kalamazoo, MI

    Listing date Jun 23, 2025

    MLS# 25035345

    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.

    HighLights

    • Move‑in ready, Class A office building with modern finishes and abundant natural light
    • Located minutes from Downtown Kalamazoo, the new arena development, WMED campus, Western Michigan University, and Kalamazoo College
    • Ample parking with a 3.5:1,000 SF ratio
    • Built in 2017 and situated on a 5.35‑acre parcel with room for future expansion
    • Features a passenger elevator, large training room, and two kitchens
    • Includes an on‑site generator providing backup power to the building

    Overview

    Available for sale is a Class A office building, formerly the RX Optical Corporate Headquarters. Constructed in 2017, this two-story building offers 21,245 square feet of space with modern finishes and abundant natural light. The property is situated on a 5.35-acre parcel, providing room for future expansion. The building includes a passenger elevator, a large training room, and two kitchens. An on-site generator provides backup power. The property is move-in ready, and furniture is negotiable. Ample parking is available, with a ratio of 3.5 spaces per 1,000 square feet. The location is just minutes from Downtown Kalamazoo, the new arena development, the WMED campus, Western Michigan University, and Kalamazoo College. The seller will establish a new Reciprocal Easement Agreement prior to closing. Adjacent buildings are available.

    Financial Insights

    Value Estimation Calculated for Office B

    Conservative
    $2.37M
    NOI $212,926 @ 9.00% cap · cautious / downside scenario
    Moderate
    $3.04M
    NOI $212,926 @ 7.00% cap · market / base-case scenario
    Aggressive
    $4.26M
    NOI $212,926 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Office B

    Component $ $/SF
    Gross rent $305.9k $14.40
    − Vacancy −$22.0k −$1.04
    EGI $283.9k $13.36
    − OpEx −$71.0k −$3.34
    NOI $212.9k $10.02
    21,245 SF · lease $14.40/SF/yr · vacancy 7.20% · expense 25.00%

    Alternative Use Scenarios

    Best Use
    Office B
    $3.04M
    $2.66M – $3.55M (±1% cap)
    NOI $212,926 @ 7.0% cap · market cap 6.71%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Warehouse
    $5.56M
    $4.86M – $6.49M (±1% cap)
    NOI $389,157 @ 7.0% cap · market cap 12.26%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Rx Optical Corporate ... Ophthalmologist Dr. Aaron Whitsett Physician Heather Cotter Physician

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Kalamazoo
    County
    Kalamazoo
    State
    Michigan
    Longitude
    -85.586547
    Latitude
    42.27373

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    FAQs

    What type of property is this?
    Office building - Modern 21,245 SF office building near Downtown Kalamazoo.
    Where is this office building located?
    The property is located at 1825 S Park Street Kalamazoo, MI.
    What is the asking price?
    The asking price for this property is $3,175,000.
    What are key features of this property?
    This property features: Move‑in ready, Class A office building with modern finishes and abundant natural light; Located minutes from Downtown Kalamazoo, the new arena development, WMED campus, Western Michigan University, and Kalamazoo College; Ample parking with a 3.5:1,000 SF ratio
    (269) 353-0311
    We can help!
    Listing Contact
    Jodi K Milks
    Real Estate License ID: 6502339107
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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