Dock-Access Medical Office
2318 Gull Road Kalamazoo, MI 49048
2318 Gull Road, Kalamazoo, MI, 49048
$1,399,000
For Sale
$1,399,000
Single-story medical office with dock access, plus a converted two-story second building on shared parking and C-1 zoned land.
Property Size6,924 SF
Lot Size5.50 Acres
Price / SF$202.05
Days on Market97
Property Features for 2318 Gull Road
General Information
- Standard status
- Active
- Size
- 6,924 SF
- Lot size
- 5.50 Acres
- Property subtype
- Office
Building Details
- Year Built
- 1930
Listing agency
Dover Birch & Associates
(269) 443-0033
Listed by
Rob Peterson · License #6502431087
Source
Xome
Added: Apr 17 Updated: Jul 20 at 9:24PM Checked: Jul 22 at 3:41AM
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 Dover Birch & Associates
Investment Insights
Based on property information with market context.
Fully leased investment property across from Beacon Hospital (formerly Borgess), located on C-1 zoned land totaling over 5.5 acres. Two buildings are included, with the primary component a single-story medical office building offering dock access.
A second building on the site is a 1,536 SF two-story structure that has been converted to office use. Both buildings are served by a shared, ample parking lot, and the property includes additional land for expansion.
A second building on the site is a 1,536 SF two-story structure that has been converted to office use. Both buildings are served by a shared, ample parking lot, and the property includes additional land for expansion.
Key Highlights
- Fully leased investment property on over 5.5 acres of C‑1 zoned land across from Beacon Hospital (formerly Borgess)
- 5,388 SF single‑story medical office building with dock access
- Second building is 1,536 SF two‑story house converted to office space
Local 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 | $99.7k | $14.40 |
| − Vacancy | −$7.2k | −$1.04 |
| EGI | $92.5k | $13.36 |
| − OpEx | −$23.1k | −$3.34 |
| NOI | $69.4k | $10.02 |
6,924 SF · lease $14.40/SF/yr · vacancy 7.20% · expense 25.00%
Alternative Uses
Best Use
Office B
$991.4K
$867.4K – $1.16M
NOI $69,395 @ 7.0% cap · market cap 4.96%
Second Best
Healthcare Medical
$889.3K
$778.2K – $1.04M
NOI $62,254 @ 7.0% cap · market cap 4.45%
Theoretical Best
Warehouse
$1.81M
$1.59M – $2.11M
NOI $126,831 @ 7.0% cap · market cap 9.07%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Paragon Health
Doctor
Rowe Orthopaedic Center
Medical Clinic
Hanger Clinic: Prosthetics ...
Medical Clinic
Rowe Bruce a MD
Physician
Kevin Hetland
Orthotics & Prosthetics Service
Similar For Sale Nearby
FAQs
What type of property is this?
Medical Office Space - Single-story medical office with dock access, plus a converted two-story second building on shared parking and C-1 zoned land.
Where is this medical office space located?
The property is located at 2318 Gull Road Kalamazoo, MI.
What is the asking price?
The asking price for this property is $1,399,000.
What are key features of this property?
This property features: Fully leased investment property on over 5.5 acres of C‑1 zoned land across from Beacon Hospital (formerly Borgess); 5,388 SF single‑story medical office building with dock access; Second building is 1,536 SF two‑story house converted to office space
