Updated Office
For Sale
$135,900
4021 W Main St Unit 400, Kalamazoo, MI 49006
Professional suite with updated air conditioning and hot-water equipment.
Property Size1,233 SF
Price / SF$110.22
Days on Market8
Property Features for 4021 W Main St Unit 400
General Information
Standard status
Active
Size
1,233 SF
Additional Details
HOA Fee
$534
Highway Access
Yes
Office Units
1
Building Details
Year Built
1982
Listing Agency:
NAI Wisinski of West Michigan
Listed By:
Kara Schroer · License #6501373674
(269) 353-0311
Source:
Katie-k
Added: Sep 20
Changed: Sep 24
Last Checked: Sep 26 at 8:42AM
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
Investment Insights
Based on property information with market context.
This 1,233 SF office condominium was built in 1982 and is part of the Briarwood Valley Condominium Association. The suite is maintained in excellent condition and includes recently updated air conditioning and a hot-water heater. Existing office furniture may also be available with the property.
The condominium is located at 4021 W Main St Unit 400 in Kalamazoo, with ample parking and convenient access to amenities along West Main Street and US-131. The property is configured for professional office use and offers an efficient ownership option within an established condominium setting.
The condominium is located at 4021 W Main St Unit 400 in Kalamazoo, with ample parking and convenient access to amenities along West Main Street and US-131. The property is configured for professional office use and offers an efficient ownership option within an established condominium setting.
Key Highlights
- 1,233 SF office condominium in the Briarwood Valley Condominium Association
- Recently updated air conditioning and hot‑water heater
- Built in 1982
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
$12,358
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
9.09%
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%
$247,160
$247.2K
Cap Rate 7%
$176,543
$176.5K
Cap Rate 9%
$137,311
$137.3K
Market Conditions
NOI Build-Up for 1,233 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
$17.8K $14.40/SF
− Vacancy
−$1.3K −$1.04/SF
EGI
$16.5K $13.36/SF
− OpEx
−$4.1K −$3.34/SF
NOI
$12.4K $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%
$247,160
Cap Rate 7%
$176,543
Cap Rate 9%
$137,311
Alternative Uses
Best Use
Office B
$176.5K
$154.5K – $206.0K
NOI $12,358 @ 7.0% cap · market cap 9.09%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$322.7K
$282.3K – $376.4K
NOI $22,586 @ 7.0% cap · market cap 16.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Office units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
544
Businesses Nearby
Explore this area
Business Placement
Demographics for 49006, MI
25,119
Population
12,093
Households
2.1
Avg Household Size
27
Median Age
44%
College-Educated
91%
High-School Grad
6.0 sq mi
ZIP Area
4,187
Density / Sq Mi
$45,617
Median Household Income
$18,710
Median Earnings
$991
Median Rent
$198,000
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office units - Professional suite with updated air conditioning and hot-water equipment.
Where is this office units located?
The property is located at 4021 W Main St Unit 400 Kalamazoo, MI.
What is the asking price?
The asking price for this property is $135,900.
What are key features of this property?
This property features: 1,233 SF office condominium in the Briarwood Valley Condominium Association; Recently updated air conditioning and hot‑water heater; Built in 1982
