Storefront Building with Multi-Level
For Sale
Contact for pricing
223 & 225 S Kalamazoo Mall, Kalamazoo, MI 49007
Multi-level downtown Kalamazoo storefront building featuring on-site parking and distinctive historic-style interior elements.
Property Size12,000 SF
Price / SF$187.50
Days on Market1022
Property Features for 223 & 225 S Kalamazoo Mall
General Information
Standard status
Active
Size
12,000 SF
Total Parking Spaces
22
Property subtype
RETAIL
Building Details
Buildings
1
Listing Agency:
BHHS - Michigan Real Estate | Grand Rapids - Cascade
(541) 870-6658
Listed By:
Brian Lewis · License #6591441776
(541) 870-6658
Source:
Moodyscre
Added: Oct 16, 2023
Changed: Jul 30
Last Checked: Aug 1 at 12:02PM
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 BHHS - Michigan Real Estate | Grand Rapids - Cascade
Investment Insights
Based on property information with market context.
This downtown Kalamazoo storefront property includes a multi-level building configuration totaling 12,000 square feet. The remarks describe a “grain elevator” feature originally designed to lift carriages to the second floor for painting and finish work, along with a rustic brick-lined wine cellar. The building is also described as having ground-floor space suited to commercial uses with additional living space conceptually possible on upper levels.
The property is located at 223 & 225 S Kalamazoo Mall and is described as being in the heart of downtown, within walking distance of Arcadia Creek Festival Place. The immediate area is described as home to WMU Medical School, major offices, and the State Theater.
Parking is described as an on-site advantage with 22 spaces. The remarks also reference an arena project planned for 2027 about three blocks away, adding to the development activity discussed for the downtown area.
The property is located at 223 & 225 S Kalamazoo Mall and is described as being in the heart of downtown, within walking distance of Arcadia Creek Festival Place. The immediate area is described as home to WMU Medical School, major offices, and the State Theater.
Parking is described as an on-site advantage with 22 spaces. The remarks also reference an arena project planned for 2027 about three blocks away, adding to the development activity discussed for the downtown area.
Key Highlights
- 12,000 square feet multi‑level storefront building
- 22 on‑site parking spaces
- “Grain elevator” feature originally designed to lift carriages to the second floor
Financial Insights For Office B
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $172.8k | $14.40 |
| − Vacancy | −$12.4k | −$1.04 |
| EGI | $160.4k | $13.36 |
| − OpEx | −$40.1k | −$3.34 |
| NOI | $120.3k | $10.02 |
12,000 SF · lease $14.40/SF/yr · vacancy 7.20% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.72M
$1.50M – $2.00M
NOI $120,269 @ 7.0% cap · market cap 5.35%
Second Best
Specialty Retail
$1.61M
$1.41M – $1.88M
NOI $112,584 @ 7.0% cap · market cap 5.00%
Theoretical Best
Warehouse
$3.14M
$2.75M – $3.66M
NOI $219,811 @ 7.0% cap · market cap 9.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,165
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
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
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Multi-level downtown Kalamazoo storefront building featuring on-site parking and distinctive historic-style interior elements.
Where is this storefront property located?
The property is located at 223 & 225 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: 12,000 square feet multi‑level storefront building; 22 on‑site parking spaces; “Grain elevator” feature originally designed to lift carriages to the second floor
