4-Unit Mixed-Use
For Sale
$499,000
3101 S Westnedge Ave, Kalamazoo, MI 49008
C-NODE-zoned property combines front-facing retail with residential units.
Property Size4,902 SF
Price / SF$101.80
Days on Market148
Property Features for 3101 S Westnedge Ave
General Information
Standard status
Active
Size
4,902 SF
Property subtype
Retail
Zoning
C-NODE
Additional Details
Corner Location
Yes
Multifamily Units
2
Building Details
Year Built
1954
Tenancy
Multi
Listing Agency:
Callander Commercial
Listed By:
Matt Callander · License #6501303339
(269) 271-5187
Source:
Carwm.resimplifi
Added: May 20
Changed: Oct 6
Last Checked: Oct 12 at 4:39PM
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 4-unit mixed-use property contains two retail suites and two residential units within a 4,902-square-foot building constructed in 1954. The primary retail space faces Westnedge Avenue and is occupied by Body Armor Tattoo. A second commercial suite is accessed from the north side of the building, creating a separate retail configuration within the property.
The asset occupies the hard corner at 3101 S Westnedge Ave in Kalamazoo, Michigan. Its C-NODE zoning supports the property’s combined commercial and residential format. The address places both retail suites and the residential component within a single established building along Westnedge Avenue.
The asset occupies the hard corner at 3101 S Westnedge Ave in Kalamazoo, Michigan. Its C-NODE zoning supports the property’s combined commercial and residential format. The address places both retail suites and the residential component within a single established building along Westnedge Avenue.
Key Highlights
- 4‑unit mixed‑use property with 2 retail suites and 2 residential units
- 4,902 SF building constructed in 1954
- Primary retail space occupied by Body Armor Tattoo
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,806
Cap Rate
6.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$676,120
$676.1K
Cap Rate 7%
$482,943
$482.9K
Cap Rate 9%
$375,622
$375.6K
Market Conditions
NOI Build-Up for 4,902 SF
Gross rent
$58.8K $12.00/SF
− Vacancy
−$10.5K −$2.15/SF
EGI
$48.3K $9.85/SF
− OpEx
−$14.5K −$2.96/SF
NOI
$33.8K $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%
$676,120
Cap Rate 7%
$482,943
Cap Rate 9%
$375,622
Alternative Uses
Best Use
Mixed Use
$724.8K
$634.2K – $845.6K
NOI $50,736 @ 7.0% cap · market cap 10.17%
Second Best
Retail
$482.9K
$422.6K – $563.4K
NOI $33,806 @ 7.0% cap · market cap 6.77%
Theoretical Best
Warehouse
$1.28M
$1.12M – $1.50M
NOI $89,793 @ 7.0% cap · market cap 17.99%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Open Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
409
Businesses Nearby
91k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 67%
Shops & Services 31%
Electronics 1%
Beauty & Spa 1%
McDonald's
Dining
17,006 visits/mo
0.1 miles
Taco Bell
Dining
12,369 visits/mo
0.0 miles
Speedway
Shops & Services
10,573 visits/mo
0.5 miles
Shell
Shops & Services
10,482 visits/mo
0.5 miles
Burger King
Dining
9,260 visits/mo
0.1 miles
Demographics for 49008, MI
18,343
Population
7,124
Households
2.6
Avg Household Size
31
Median Age
55%
College-Educated
95%
High-School Grad
6.7 sq mi
ZIP Area
2,738
Density / Sq Mi
$67,339
Median Household Income
$31,756
Median Earnings
$1,005
Median Rent
$202,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - C-NODE-zoned property combines front-facing retail with residential units.
Where is this mixed-use property located?
The property is located at 3101 S Westnedge Ave Kalamazoo, MI.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 4‑unit mixed‑use property with 2 retail suites and 2 residential units; 4,902 SF building constructed in 1954; Primary retail space occupied by Body Armor Tattoo
