Mixed-Use Property with Freight
For Sale
$2,000,000
414-424 Walbridge St, Kalamazoo, MI 49007
Downtown Kalamazoo property with foodservice improvements, overhead doors, and an included vacant parcel.
Property Size10,000 SF
Price / SF$201.33
Days on Market832
Property Features for 414-424 Walbridge St
General Information
Standard status
Active
Size
10,000 SF
Property subtype
Commercial
Additional Details
Opportunity Zone
Yes
Amenities
freight elevator
Building Details
Year Built
1926
Building Size
10,000 SF
Listing Agency:
Keller Williams GR East
Listed By:
Jason R Carpenter · License #6502430921
(616) 334-2630
Source:
Vmrealestatemichigan
Added: Jul 5, 2024
Changed: Oct 1
Last Checked: Oct 12 at 8:36PM
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 Keller Williams GR East
Investment Insights
Based on property information with market context.
Built in 1926, this mixed-use property combines a former auto-parts manufacturing facility with improvements suited to foodservice operations. The building includes a commercial kitchen, coffee shop, grade-level overhead doors, and a freight elevator. An additional vacant lot on the north side is included with the property.
The asset is positioned in Downtown Kalamazoo and is designated within an opportunity zone. Its existing mix of industrial and foodservice features provides a varied physical configuration for an owner or operator evaluating the property’s current improvements and future use.
The asset is positioned in Downtown Kalamazoo and is designated within an opportunity zone. Its existing mix of industrial and foodservice features provides a varied physical configuration for an owner or operator evaluating the property’s current improvements and future use.
Key Highlights
- 1926 construction date
- Commercial kitchen and coffee shop included
- Grade‑level overhead doors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$149,855
Cap Rate
7.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,997,100
$3.0M
Cap Rate 7%
$2,140,786
$2.1M
Cap Rate 9%
$1,665,056
$1.7M
Market Conditions
NOI Build-Up for 9,934 SF
Gross rent
$219.3K $22.08/SF
− Vacancy
−$5.3K −$0.53/SF
EGI
$214.1K $21.55/SF
− OpEx
−$64.2K −$6.47/SF
NOI
$149.9K $15.09/SF
Area
Kalamazoo County, MI
Vacancy
2.40%
Lease Rate
$22.08 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,997,100
Cap Rate 7%
$2,140,786
Cap Rate 9%
$1,665,056
Alternative Uses
Best Use
Industrial
$2.14M
$1.87M – $2.50M
NOI $149,855 @ 7.0% cap · market cap 7.49%
Second Best
Mixed Use
$1.47M
$1.29M – $1.71M
NOI $102,817 @ 7.0% cap · market cap 5.14%
Theoretical Best
Warehouse
$2.60M
$2.27M – $3.03M
NOI $181,967 @ 7.0% cap · market cap 9.10%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,946
Businesses Nearby
Explore this area
Business Placement
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
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Downtown Kalamazoo property with foodservice improvements, overhead doors, and an included vacant parcel.
Where is this mixed-use property located?
The property is located at 414-424 Walbridge St Kalamazoo, MI.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: 1926 construction date; Commercial kitchen and coffee shop included; Grade‑level overhead doors
