Medical Office Property with Dock
For Sale
$1,249,900
2318 Gull Road, Kalamazoo, MI 49048
Commercial Sale, Kalamazoo, MI
Property Size6,924 SF
Lot Size5.60 Acres
Price / SF$180.52
Days on Market168
Property Features for 2318 Gull Road
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
C-1
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 2, Bathroom 3, Bathroom 1, Bathroom 4
Interior features
Broadband
Elementary school district
Comstock
Middle school district
Comstock
High school district
Comstock
Standard status
Active
APN
06-11-450-059
Size
6,924 SF
Lot size
5.60 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
On file
Tax Annual Amount
32004
Legal Description
On file
Utilities
Utilities
Cable Available
Heating system
Forced Air
Cooling system
Central Air
Amenities
dock access
three-phase power
natural woodwork
full kitchen
Building Details
Year built
1930
Floors in Building
2
Number of units
2
Building materials
Wood Siding, Brick
Roof type
Composition
Listing Agency:
Dover Birch & Associates
(269) 443-0033
Listed By:
Rob Peterson · License #6502431087
(269) 276-0402
Added: Apr 21
Changed: Oct 2
Last Checked: Oct 5 at 7:06PM
MLS# 26016860
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 C-1-zoned medical office property spans 5.6 acres and contains two buildings. The single-story medical office building is fully leased and has dock access and three-phase power. A separate two-story house, converted to office use, is vacant and includes natural woodwork and a full kitchen. Both buildings use a shared parking lot, and the property has land available for expansion.
Beacon Hospital is across the road from the property.
Beacon Hospital is across the road from the property.
Key Highlights
- 5.6 acres with C‑1 zoning
- Fully leased, single‑story medical office building with dock access
- Three‑phase power
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$69,395
Cap Rate
5.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,387,900
$1.4M
Cap Rate 7%
$991,357
$991.4K
Cap Rate 9%
$771,056
$771.1K
Market Conditions
NOI Build-Up for 6,924 SF
Gross rent
$99.7K $14.40/SF
− Vacancy
−$7.2K −$1.04/SF
EGI
$92.5K $13.36/SF
− OpEx
−$23.1K −$3.34/SF
NOI
$69.4K $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 Rate 5%
$1,387,900
Cap Rate 7%
$991,357
Cap Rate 9%
$771,056
Alternative Uses
Best Use
Office B
$991.4K
$867.4K – $1.16M
NOI $69,395 @ 7.0% cap · market cap 5.55%
Second Best
Healthcare Medical
$889.3K
$778.2K – $1.04M
NOI $62,254 @ 7.0% cap · market cap 4.98%
Theoretical Best
Warehouse
$1.81M
$1.59M – $2.11M
NOI $126,831 @ 7.0% cap · market cap 10.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,053
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49048, MI
25,067
Population
10,440
Households
2.4
Avg Household Size
36
Median Age
25%
College-Educated
90%
High-School Grad
35.1 sq mi
ZIP Area
714
Density / Sq Mi
$62,160
Median Household Income
$36,150
Median Earnings
$1,032
Median Rent
$158,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - The site combines a leased medical office building with a converted house previously used as office space.
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 $1,249,900.
What are key features of this property?
This property features: 5.6 acres with C‑1 zoning; Fully leased, single‑story medical office building with dock access; Three‑phase power
