Renovated Four-Unit Office
For Sale
$1,050,000
1900 Whites Road, Kalamazoo, MI 49008
Wooded professional setting with private parking, elevator, and an ADA-compliant common-area restroom.
Property Size8,290 SF
Days on Market26
Property Features for 1900 Whites Road
General Information
Standard status
Active
Size
8,290 SF
Elevators
Yes
Property subtype
Commercial
Zoning
CC2
Additional Details
Road Access
Yes
Office Units
4
Taxes and HOA fees
Annual Taxes
$28,869
Amenities
ADA-compliant common-area restroom
lawn irrigation system
Building Details
Building Size
8,290 SF
Year Built
1974
Year Renovated
2021
Buildings
1
Stories
2
Units
4
Listing Agency:
Kalamazoo Commercial Real Estate
(269) 888-2755
Listed By:
Andrew J Gyorkos · License #6502406462
(269) 888-2755
Source:
Buyatthelake
Added: Aug 5
Changed: Aug 29
Last Checked: Aug 25 at 7:10AM
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 Kalamazoo Commercial Real Estate
Investment Insights
Based on property information with market context.
The 8,290-square-foot Oakwood Professional Building was constructed in 1974 and is configured with four office units. Renovations completed in 2021 included windows, siding, landscaping, sidewalks, HVAC, an elevator, and an ADA-compliant restroom serving the common area. The property also includes private parking for tenants and visitors.
Located at 1900 Whites Rd in Kalamazoo, the building sits on Whites Road near Oakland Drive, across from the Kalamazoo Country Club and within the Oakwood neighborhood. The parking lot was resurfaced in 2025, and a lawn irrigation system was installed the same year.
Located at 1900 Whites Rd in Kalamazoo, the building sits on Whites Road near Oakland Drive, across from the Kalamazoo Country Club and within the Oakwood neighborhood. The parking lot was resurfaced in 2025, and a lawn irrigation system was installed the same year.
Key Highlights
- 8,290‑square‑foot office building with four units
- 2021 improvements included windows, siding, HVAC, landscaping, sidewalks, elevator, and ADA‑compliant common‑area restroom
- Private parking available for tenants and visitors
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
$83,086
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
7.91%
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%
$1,661,720
$1.7M
Cap Rate 7%
$1,186,943
$1.2M
Cap Rate 9%
$923,178
$923.2K
Market Conditions
NOI Build-Up for 8,290 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
$119.4K $14.40/SF
− Vacancy
−$8.6K −$1.04/SF
EGI
$110.8K $13.36/SF
− OpEx
−$27.7K −$3.34/SF
NOI
$83.1K $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%
$1,661,720
Cap Rate 7%
$1,186,943
Cap Rate 9%
$923,178
Alternative Uses
Best Use
Office B
$1.19M
$1.04M – $1.38M
NOI $83,086 @ 7.0% cap · market cap 7.91%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$2.17M
$1.90M – $2.53M
NOI $151,853 @ 7.0% cap · market cap 14.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Office units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
279
Businesses Nearby
Explore this area
Business Placement
Demographics for 49008, MI
18,343
Population
7,124
Households
2.6
Avg Household Size
31
Median Age
55%
College-Educated
95%
High-School Grad
6.7 sq mi
ZIP Area
2,738
Density / Sq Mi
$67,339
Median Household Income
$31,756
Median Earnings
$1,005
Median Rent
$202,400
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Wooded professional setting with private parking, elevator, and an ADA-compliant common-area restroom.
Where is this office building located?
The property is located at 1900 Whites Road Kalamazoo, MI.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: 8,290‑square‑foot office building with four units; 2021 improvements included windows, siding, HVAC, landscaping, sidewalks, elevator, and ADA‑compliant common‑area restroom; Private parking available for tenants and visitors
