Kalamazoo Office Investment
For Sale
Contact for pricing
Pending
2555 S 11th Street, Kalamazoo, MI 49009
Well-maintained office building near I-94 with upside potential.
Property Size3,528 SF
Days on Market104
Property Features for 2555 S 11th Street
General Information
Standard status
Pending
Size
3,528 SF
Property subtype
Office
Building Details
Year Built
2000
Buildings
1
Stories
1
Units
5
Listing Agency:
NAI Wisinski of West Michigan - Kalamazoo
(269) 353-0311
Listed By:
Kara Schroer, CCIM · License #MI 6501373674
Source:
Crexi
Added: May 21
Changed: Aug 8
Last Checked: Jul 25 at 7:15AM
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 NAI Wisinski of West Michigan - Kalamazoo
Investment Insights
Based on property information with market context.
Located near the corner of S 11th Street and Stadium Drive, 2555 S 11th Street is situated within an established professional office park, offering regional access and surrounding amenities. The property features landscaping, a cared-for exterior, and an interior office build-out, creating a move-in-ready environment. The tenancy is stable with medium-length lease terms, and current rents are slightly below market, providing upside while preserving cash flow. The 3,528 square foot asset suits both investors and owner-users. The current owner occupies space and is flexible, able to remain short term while an investor secures a new tenant, or vacate to accommodate an owner-occupant's timeline, allowing an owner to leverage existing rental income to offset occupancy costs. With on-site parking, visibility, and access in an office corridor, this is an office opportunity.
Key Highlights
- Excellent regional access near I‑94, S 11th Street & Stadium Drive.
- Move‑in‑ready, perfectly designed interior office build‑out.
- Flexible owner occupancy: current owner can remain short‑term or vacate.
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
$35,359
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
5.20%
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%
$707,180
$707.2K
Cap Rate 7%
$505,129
$505.1K
Cap Rate 9%
$392,878
$392.9K
Market Conditions
NOI Build-Up for 3,528 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
$50.8K $14.40/SF
− Vacancy
−$3.7K −$1.04/SF
EGI
$47.1K $13.36/SF
− OpEx
−$11.8K −$3.34/SF
NOI
$35.4K $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 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%
$707,180
Cap Rate 7%
$505,129
Cap Rate 9%
$392,878
Alternative Uses
Best Use
Office B
$505.1K
$442.0K – $589.3K
NOI $35,359 @ 7.0% cap · market cap 5.20%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$923.2K
$807.8K – $1.08M
NOI $64,624 @ 7.0% cap · market cap 9.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
706
Businesses Nearby
Explore this area
Business Placement
Demographics for 49009, MI
47,188
Population
20,609
Households
2.3
Avg Household Size
38
Median Age
50%
College-Educated
96%
High-School Grad
102.2 sq mi
ZIP Area
462
Density / Sq Mi
$82,364
Median Household Income
$44,702
Median Earnings
$1,089
Median Rent
$330,300
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?
Office building - Well-maintained office building near I-94 with upside potential.
Where is this office building located?
The property is located at 2555 S 11th Street Kalamazoo, MI.
What is the asking price?
The asking price for this property is $679,900.
What are key features of this property?
This property features: Excellent regional access near I‑94, S 11th Street & Stadium Drive.; Move‑in‑ready, perfectly designed interior office build‑out.; Flexible owner occupancy: current owner can remain short‑term or vacate.
