Classic Storefront Retail
308 W Michigan Avenue, Kalamazoo, MI 49007
For Sale
Contact for pricing
White box delivery and upper-level conversion plans support flexible retail or mixed-use concepts.
Property Size3,000 SF
Price / SF$0.01
Days on Market58
Property Features for 308 W Michigan Avenue
General Information
Standard status
Size
Listing Agency:
Dover Birch & Associates
(269) 443-0033
Listed By:
Rob Peterson · License MI #6502431087
(269) 276-0402
Source:
Jimdehaan
Added: Sep 18
Changed: Nov 8
Last Checked: Nov 12 at 7:16AM
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
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Investment Insights
Based on property information with market context.
This retail property features a classic storefront, high ceilings, and approximately 1,500–3,000 square feet of capacity. The building will be delivered in white box condition, providing a clean starting point for a new interior buildout. Its prior use as a bookstore and newsstand offers a documented connection to retail and publishing history, while the upper level is planned for conversion to apartments.
Located at 308 W Michigan Avenue in Kalamazoo, the property is one block from the upcoming Kalamazoo Event Center. The ownership is open to alternative plans for the upper level and to a future use that reflects the building’s history.
Located at 308 W Michigan Avenue in Kalamazoo, the property is one block from the upcoming Kalamazoo Event Center. The ownership is open to alternative plans for the upper level and to a future use that reflects the building’s history.
Key Highlights
- Classic storefront with high ceilings
- Approximately 1,500–3,000 square feet of capacity
- Delivered in white box condition
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,689
Suggested Prices Based on Cap Rates
Cap Rate 5%
$413,780
$413.8K
Cap Rate 7%
$295,557
$295.6K
Cap Rate 9%
$229,878
$229.9K
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$36.0K $12.00/SF
− Vacancy
−$6.4K −$2.15/SF
EGI
$29.6K $9.85/SF
− OpEx
−$8.9K −$2.96/SF
NOI
$20.7K $6.90/SF
Area
Kalamazoo County, MI
Vacancy
17.90%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$413,780
Cap Rate 7%
$295,557
Cap Rate 9%
$229,878
Alternative Uses
Best Use
Retail
$295.6K
$258.6K – $344.8K
NOI $20,689 @ 7.0% cap
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$785.0K
$686.9K – $915.9K
NOI $54,953 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,946
Businesses Nearby
42k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 75%
Shops & Services 13%
Hotels & Casinos 10%
Home Improvements & Furnishings 2%
McDonald's
Dining
15,871 visits/mo
0.5 miles
Checkers
Dining
6,149 visits/mo
0.1 miles
Lee's Famous Recipe Chicken
Dining
5,202 visits/mo
0.5 miles
Barrio Tacos
Dining
4,643 visits/mo
0.4 miles
Hilton Garden Inn Kalamazoo Downtown
Hotels & Casinos
4,289 visits/mo
0.5 miles
Demographics for 49007, MI
10,353
Population
5,102
Households
2
Avg Household Size
31
Median Age
24%
College-Educated
84%
High-School Grad
3.5 sq mi
ZIP Area
2,958
Density / Sq Mi
$39,309
Median Household Income
$24,723
Median Earnings
$1,017
Median Rent
$103,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Storefront properties in Kalamazoo, MI
Properties on Market for Storefront properties in Kalamazoo
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Storefront property - White box delivery and upper-level conversion plans support flexible retail or mixed-use concepts.
Where is this storefront property located?
The property is located at 308 W Michigan Avenue Kalamazoo, MI.
What are key features of this property?
This property features: Classic storefront with high ceilings; Approximately 1,500–3,000 square feet of capacity; Delivered in white box condition
