Functional Industrial Building Near
For Sale
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2501 E Cork Street, Kalamazoo, MI 49001
1,780 SF industrial building with I-94 access and visibility.
Property Size1,780 SF
Price / SF$157.25
Days on Market104
Property Features for 2501 E Cork Street
General Information
Standard status
Active
Size
1,780 SF
Property subtype
Industrial, Office, Retail
Zoning
M-1 (Limited Industrial)
Investment Type
Owner/User
Building Details
Year Built
1957
Year Renovated
2023
Buildings
1
Listing Agency:
Callander Commercial
(269) 208-9700
Listed By:
Stephanie Wiltgen · License #6505341805
Source:
Crexi
Added: May 11
Changed: Aug 14
Last Checked: Aug 21 at 8:48AM
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 Callander Commercial
Investment Insights
Based on property information with market context.
This 1,780 SF industrial building provides functionality and visibility with convenient access to I-94. The property features a practical layout that includes a front showroom/office area suitable for customer interaction, along with a warehouse/workspace equipped with a 9 ft. overhead door. Zoned M-1 (Limited Industrial), the property supports a wide range of commercial and industrial uses. These include contractor shops, service businesses, small manufacturing, storage, or light manufacturing. This property presents an opportunity for an owner-user seeking a flexible industrial asset in a well-traveled corridor of Kalamazoo.
Key Highlights
- Easy access to I‑94.
- Flexible M‑1 (Limited Industrial) zoning allows for a wide range of uses.
- Functional layout with showroom/office and warehouse/workspace.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$12,007
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.29%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$240,140
$240.1K
Cap Rate 7%
$171,529
$171.5K
Cap Rate 9%
$133,411
$133.4K
Market Conditions
NOI Build-Up for 1,780 SF
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.
Gross rent
$19.7K $11.04/SF
− Vacancy
−$1.2K −$0.66/SF
EGI
$18.5K $10.38/SF
− OpEx
−$6.5K −$3.63/SF
NOI
$12.0K $6.75/SF
Area
Kalamazoo County, MI
Vacancy
6.00%
Lease Rate
$11.04 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$240,140
Cap Rate 7%
$171,529
Cap Rate 9%
$133,411
Alternative Uses
Best Use
Industrial
$383.6K
$335.6K – $447.5K
NOI $26,851 @ 7.0% cap · market cap 9.59%
Second Best
Flex RnD
$171.5K
$150.1K – $200.1K
NOI $12,007 @ 7.0% cap · market cap 4.29%
Theoretical Best
Warehouse
$465.8K
$407.6K – $543.4K
NOI $32,605 @ 7.0% cap · market cap 11.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
182
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49001, MI
21,730
Population
9,670
Households
2.2
Avg Household Size
34
Median Age
30%
College-Educated
89%
High-School Grad
7.7 sq mi
ZIP Area
2,822
Density / Sq Mi
$52,327
Median Household Income
$35,447
Median Earnings
$1,055
Median Rent
$139,600
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - 1,780 SF industrial building with I-94 access and visibility.
Where is this flex space located?
The property is located at 2501 E Cork Street Kalamazoo, MI.
What is the asking price?
The asking price for this property is $279,900.
What are key features of this property?
This property features: Easy access to I‑94.; Flexible M‑1 (Limited Industrial) zoning allows for a wide range of uses.; Functional layout with showroom/office and warehouse/workspace.
