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Downtown Kalamazoo Multi-Level Property

223 S Kalamazoo Mall, Kalamazoo, MI 49007

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For Sale

$2,250,000

Prime downtown location with multi-level layout and dedicated parking.

Type:Commercial/Industrial

Property size:

13,872 SF

Lot size:

0.27 Acres

Price / SF:

$162/SF

We can help!

Contact an agent

Brian D Lewis

HighLights

Prime Downtown Kalamazoo Location: Steps away from cultural landmarks
Spacious Multi‑Level Layout: Three stories plus a basement offering flexible use
Ready‑for‑Use Parking: Includes 22 dedicated parking spots
Historic Building: Built in 1878, reflecting Kalamazoo's rich history
Potential for Commercial Spaces: Suitable for various business ventures
Potential for Luxurious Lofts: Ideal for residential conversion

For Sale

$2,250,000

Prime downtown location with multi-level layout and dedicated parking.

Type:Commercial/Industrial

Property size:

13,872 SF

Lot size:

0.27 Acres

Price / SF:

$162/SF

Added:: Oct 16, 2023
Days on Market:: 995
Last Refresh:: May 19 at 11:45 pm

Property Features for 223 S Kalamazoo Mall

General Information

Standard status: Active
Size: 13,872 SF
Lot size: 0.27 Acres
Property subtype: Commercial/Industrial

Building Details

Year Built: 1878

We can help!

Contact an agent

Brian D Lewis

Listing office Berkshire Hathaway HomeServices MI

Listing date Oct 16, 2023

Source Exitrealty

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 Berkshire Hathaway HomeServices MI

HighLights

Prime Downtown Kalamazoo Location: Steps away from cultural landmarks
Spacious Multi‑Level Layout: Three stories plus a basement offering flexible use
Ready‑for‑Use Parking: Includes 22 dedicated parking spots
Historic Building: Built in 1878, reflecting Kalamazoo's rich history
Potential for Commercial Spaces: Suitable for various business ventures
Potential for Luxurious Lofts: Ideal for residential conversion

Overview

This property is located in downtown Kalamazoo, near cultural landmarks such as the Farmers' Alley Theater. The building features a multi-level layout with three stories plus a basement. It offers potential for commercial spaces, luxurious lofts, or a blend of both. The property includes 22 dedicated parking spots.

Local Financial Insights For Mixed Use

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$249.7k	$18.00
− Vacancy	−$20.0k	−$1.44
EGI	$229.7k	$16.56
− OpEx	−$86.1k	−$6.21
NOI	$143.6k	$10.35

13,872 SF · lease $18.00/SF/yr · vacancy 8.00% · expense 37.50%

Alternative Uses

Best Use

Mixed Use

$2.05M

$1.79M – $2.39M (±1% cap)

NOI $143,575 @ 7.0% cap · market cap 6.38%

Second Best

Office B

$1.99M

$1.74M – $2.32M (±1% cap)

NOI $139,031 @ 7.0% cap · market cap 6.18%

Theoretical Best

Warehouse

$3.63M

$3.18M – $4.24M (±1% cap)

NOI $254,101 @ 7.0% cap · market cap 11.29%

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

Property Profile Location Intelligence

Current Use by Public Records

Kzoo in the Mitten Department Store Petals and Postings LLC (Bike/Boat/Book/etc) Store

Suggested Use

Location Insight

Map
Local Demand

City: Kalamazoo
County: Kalamazoo
State: Michigan
Longitude: -85.58299
Latitude: 42.290314

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For sale
Mixed-use properties
MI
Kalamazoo
49007
223 S Kalamazoo Mall

What type of property is this?

Mixed-use property - Prime downtown location with multi-level layout and dedicated parking.

Where is this mixed-use property located?

The property is located at 223 S Kalamazoo Mall Kalamazoo, MI.

What is the asking price?

The asking price for this property is $2,250,000.

What are key features of this property?

This property features: Prime Downtown Kalamazoo Location: Steps away from cultural landmarks; Spacious Multi‑Level Layout: Three stories plus a basement offering flexible use; Ready‑for‑Use Parking: Includes 22 dedicated parking spots