Retail Space with Lower
For Sale
$375,000
217 S Kalamazoo Mall, Kalamazoo, MI 49007
Commercial Sale, Kalamazoo, MI
Property Size1,982 SF
Lot Size0.04 Acres
Price / SF$189.20
Days on Market297
Property Features for 217 S Kalamazoo Mall
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
D1
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1, Basement
Interior features
Broadband
Elementary school district
Kalamazoo
Middle school district
Kalamazoo
High school district
Kalamazoo
Directions
E Michigan Ave, turn South on to S Kalamazoo Mall.
Subdivision
Greater Kalamazoo - K
Standard status
Active
APN
06-15-386-011
Size
1,982 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
548 KALAMAZOO COUNTY CONDOMINIUM SUBDIVISION PLAN NO. 127 THE STYLE SHOP BUILDING Unit 1
Tax Annual Amount
7712
Legal Description
548 KALAMAZOO COUNTY CONDOMINIUM SUBDIVISION PLAN NO. 127 THE STYLE SHOP BUILDING Unit 1
Utilities
Utilities
Cable Available
Heating system
Forced Air
Building Details
Year built
1937
Number of units
1
Building materials
Brick
Listing Agency:
NAI Wisinski of West Michigan
(269) 353-0311
Listed By:
Jodi K Milks · License #6506044331
(269) 459-0439
Added: Dec 12, 2025
Changed: Sep 16
Last Checked: Oct 5 at 7:06PM
MLS# 25061704
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 retail property provides 1,982 square feet on South Kalamazoo Mall, with an open floor plan and an additional 1,200-square-foot lower level. The lower level expands storage and operational capacity. Brick construction, forced-air heating, broadband, and cable availability are documented, and the building dates to 1937.
The space sits in downtown Kalamazoo among established retailers, creative offices, and new residential development. Nearby parking supports customer and employee access, while the surrounding corridor is described as an active commercial setting with substantial pedestrian activity. An arena project under construction nearby is planned as the home of WMU hockey and a major event venue, with thousands of visitors expected in the area each year.
The space sits in downtown Kalamazoo among established retailers, creative offices, and new residential development. Nearby parking supports customer and employee access, while the surrounding corridor is described as an active commercial setting with substantial pedestrian activity. An arena project under construction nearby is planned as the home of WMU hockey and a major event venue, with thousands of visitors expected in the area each year.
Key Highlights
- 1,982 SF of retail space on South Kalamazoo Mall
- Additional 1,200 SF lower level for storage or operational use
- Open retail floor plan with nearby parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,669
Cap Rate
3.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$273,380
$273.4K
Cap Rate 7%
$195,271
$195.3K
Cap Rate 9%
$151,878
$151.9K
Market Conditions
NOI Build-Up for 1,982 SF
Gross rent
$23.8K $12.00/SF
− Vacancy
−$4.3K −$2.15/SF
EGI
$19.5K $9.85/SF
− OpEx
−$5.9K −$2.96/SF
NOI
$13.7K $6.90/SF
Area
Kalamazoo County, MI
Vacancy
17.90%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$273,380
Cap Rate 7%
$195,271
Cap Rate 9%
$151,878
Alternative Uses
Best Use
Retail
$195.3K
$170.9K – $227.8K
NOI $13,669 @ 7.0% cap · market cap 3.65%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$518.6K
$453.8K – $605.1K
NOI $36,305 @ 7.0% cap · market cap 9.68%
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
3,165
Businesses Nearby
62k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 44%
Shops & Services 41%
Hotels & Casinos 12%
Electronics 2%
McDonald's
Dining
15,871 visits/mo
0.3 miles
Shell
Shops & Services
13,648 visits/mo
0.4 miles
Checkers
Dining
6,149 visits/mo
0.5 miles
Barrio Tacos
Dining
4,643 visits/mo
0.1 miles
Family Dollar
Shops & Services
4,370 visits/mo
0.5 miles
Demographics for 49007, MI
10,353
Population
5,102
Households
2
Avg Household Size
31
Median Age
24%
College-Educated
84%
High-School Grad
3.5 sq mi
ZIP Area
2,958
Density / Sq Mi
$39,309
Median Household Income
$24,723
Median Earnings
$1,017
Median Rent
$103,400
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 Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Retail space - Open retail layout with supplemental below-grade space for storage or business operations.
Where is this retail space located?
The property is located at 217 S Kalamazoo Mall Kalamazoo, MI.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 1,982 SF of retail space on South Kalamazoo Mall; Additional 1,200 SF lower level for storage or operational use; Open retail floor plan with nearby parking
