Freestanding Office
For Sale
$499,000
4200 S 9th Street, Kalamazoo, MI 49009
ADA-compliant office property with flexible interior workspace, private offices, conference areas, and lower-level storage.
Property Size3,056 SF
Lot Size7.22 Acres
Price / SF$163.29
Days on Market518
Property Features for 4200 S 9th Street
General Information
Standard status
Active
Size
3,056 SF
Total Parking Spaces
12
Lot size
7.22 Acres
Property subtype
Commercial/Industrial
Zoning
I-R, R-3
Additional Details
Highway Access
Yes
Land Use
office
Taxes and HOA fees
Annual Taxes
$10,197
Amenities
large reception area
private office
private office/conference room
open workspace
kitchenette
dry kitchenette
large unisex restroom
lower-level walkout
multiple storage areas
modern landscaping
lighted monument sign
Building Details
Year Built
1958
Buildings
1
Building Size
3,056 SF
Tenancy
Single
Abandoned
No
Listing Agency:
NAI Wisinski of West Michigan
(269) 207-1040
Listed By:
Jodi K Milks · License #6502339107
(269) 207-1040
Source:
Exitrealty
Added: Apr 1, 2025
Changed: Aug 30
Last Checked: Aug 30 at 1:02PM
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 freestanding office property contains approximately 3,056 SF in an ADA-compliant building constructed in 1958. The main level includes a reception area, two private office settings, open work area, kitchenette, and unisex restroom. A walkout lower level adds a private office/conference room, additional workspace, dry kitchenette, and multiple storage areas. Modern interior finishes and maintained landscaping complement the building.
The property occupies 7.22 acres at 4200 S 9th Street in Oshtemo Charter Township, with 12 parking spaces and a lighted monument sign. Zoning includes I-R - Industrial District, Restricted, along with R-3 - Residence District covering approximately 1.42 rear acres. An existing ITC utility easement permits parking and roads but prohibits permanent structures. The current lease with Schley Nelson Architects runs through 12/31/25 and allows early termination subject to an approved Buy and Sell Agreement.
The property occupies 7.22 acres at 4200 S 9th Street in Oshtemo Charter Township, with 12 parking spaces and a lighted monument sign. Zoning includes I-R - Industrial District, Restricted, along with R-3 - Residence District covering approximately 1.42 rear acres. An existing ITC utility easement permits parking and roads but prohibits permanent structures. The current lease with Schley Nelson Architects runs through 12/31/25 and allows early termination subject to an approved Buy and Sell Agreement.
Key Highlights
- Approximately 3,056 SF freestanding office building constructed in 1958
- 7.22‑acre parcel with potential for additional buildings, expansion, or redevelopment
- ADA‑compliant layout with reception, private offices, open workspace, and conference areas
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
$30,628
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
6.14%
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%
$612,560
$612.6K
Cap Rate 7%
$437,543
$437.5K
Cap Rate 9%
$340,311
$340.3K
Market Conditions
NOI Build-Up for 3,056 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
$44.0K $14.40/SF
− Vacancy
−$3.2K −$1.04/SF
EGI
$40.8K $13.36/SF
− OpEx
−$10.2K −$3.34/SF
NOI
$30.6K $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%
$612,560
Cap Rate 7%
$437,543
Cap Rate 9%
$340,311
Alternative Uses
Best Use
Office B
$437.5K
$382.9K – $510.5K
NOI $30,628 @ 7.0% cap · market cap 6.14%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$799.7K
$699.7K – $933.0K
NOI $55,978 @ 7.0% cap · market cap 11.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
213
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 - ADA-compliant office property with flexible interior workspace, private offices, conference areas, and lower-level storage.
Where is this office building located?
The property is located at 4200 S 9th Street 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: Approximately 3,056 SF freestanding office building constructed in 1958; 7.22‑acre parcel with potential for additional buildings, expansion, or redevelopment; ADA‑compliant layout with reception, private offices, open workspace, and conference areas
