Flex Space with
For Sale
$279,900
2501 East Cork Street, Kalamazoo, MI 49001
Front showroom and office area connects with warehouse/workspace for mixed commercial functions.
Property Size1,780 SF
Price / SF$157.25
Days on Market162
Property Features for 2501 East Cork Street
General Information
Standard status
Active
Size
1,780 SF
Property subtype
Industrial
Zoning
M1
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
1957
Buildings
1
Building Size
1,780 SF
Listing Agency:
Callander Commercial
Listed By:
Stephanie Wiltgen · License #6505341805
(269) 373-8106
Source:
Carwm.resimplifi
Added: Mar 26
Changed: Aug 31
Last Checked: Sep 2 at 1:56PM
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-square-foot flex property combines a front showroom and office area with warehouse/workspace. The layout accommodates customer-facing activity alongside back-of-house operations, and the warehouse portion includes a 9-foot overhead door. Constructed in 1957, the building is designated M1 and supports the property’s industrial configuration.
The property is located at 2501 East Cork Street in Kalamazoo, with access to I-94 and Sprinkle Road. Stated potential applications include contractor shops, service businesses, small manufacturing, storage, and light manufacturing. The building’s combination of showroom, office, and work areas provides a practical format for multiple commercial functions.
The property is located at 2501 East Cork Street in Kalamazoo, with access to I-94 and Sprinkle Road. Stated potential applications include contractor shops, service businesses, small manufacturing, storage, and light manufacturing. The building’s combination of showroom, office, and work areas provides a practical format for multiple commercial functions.
Key Highlights
- 1,780 SF flex building with showroom, office, and warehouse/workspace areas
- 9‑foot overhead door serving the warehouse/workspace area
- M1 zoning
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
Warehouse
$465.8K
$407.6K – $543.4K
NOI $32,605 @ 7.0% cap · market cap 11.65%
Second Best
Industrial
$383.6K
$335.6K – $447.5K
NOI $26,851 @ 7.0% cap · market cap 9.59%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
339
Businesses Nearby
Well-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 - Front showroom and office area connects with warehouse/workspace for mixed commercial functions.
Where is this flex space located?
The property is located at 2501 East 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: 1,780 SF flex building with showroom, office, and warehouse/workspace areas; 9‑foot overhead door serving the warehouse/workspace area; M1 zoning
