Leased Breakfast & Diner
For Sale
$950,000
4311 S Westnedge Ave, Kalamazoo, MI 49008
Existing restaurant tenancy supports continued breakfast and lunch use in a visible retail corridor.
Property Size3,490 SF
Price / SF$272.21
Days on Market69
Property Features for 4311 S Westnedge Ave
General Information
Standard status
Active
Size
3,490 SF
Property subtype
Investment
Zoning
CC
Additional Details
Road Access
Yes
Amenities
Power
Water
Sewer
Natural Gas
Building Details
Year Built
1972
Listing Agency:
Callander Commercial
(269) 330-9396
Listed By:
Maureen Daniel
(269) 330-9396
Source:
Carwm.resimplifi
Added: Jun 24
Changed: Aug 29
Last Checked: Aug 30 at 1:26PM
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 breakfast-and-diner property is currently leased to an established restaurant operator with a breakfast and lunch concept. The building dates to 1972 and carries CC zoning, supporting its existing commercial restaurant profile. Signage and visibility are identified among the site's physical advantages.
Located at 4311 S Westnedge Ave in Kalamazoo, the property fronts South Westnedge Avenue, described as a primary north-south retail corridor. The site may be acquired independently or together with the adjacent property at 4321 S. Westnedge. Financial information is available with a signed NDA.
Located at 4311 S Westnedge Ave in Kalamazoo, the property fronts South Westnedge Avenue, described as a primary north-south retail corridor. The site may be acquired independently or together with the adjacent property at 4321 S. Westnedge. Financial information is available with a signed NDA.
Key Highlights
- Leased to an established restaurant operator with a breakfast and lunch concept
- CC zoning supports the property's existing commercial restaurant use
- 1972 building construction
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
$32,743
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
3.45%
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%
$654,860
$654.9K
Cap Rate 7%
$467,757
$467.8K
Cap Rate 9%
$363,811
$363.8K
Market Conditions
NOI Build-Up for 3,490 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
$45.9K $13.14/SF
− Vacancy
−$2.2K −$0.63/SF
EGI
$43.7K $12.51/SF
− OpEx
−$10.9K −$3.13/SF
NOI
$32.7K $9.38/SF
Area
Kalamazoo County, MI
Vacancy
4.80%
Lease Rate
$13.14 /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%
$654,860
Cap Rate 7%
$467,757
Cap Rate 9%
$363,811
Alternative Uses
Best Use
Specialty Retail
$467.8K
$409.3K – $545.7K
NOI $32,743 @ 7.0% cap · market cap 3.45%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$913.3K
$799.1K – $1.07M
NOI $63,928 @ 7.0% cap · market cap 6.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
587
Businesses Nearby
352k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 38%
Groceries 35%
Home Improvements & Furnishings 15%
Dining 10%
Meijer
Groceries
101,867 visits/mo
0.4 miles
Lowe's
Home Improvements & Furnishings
29,124 visits/mo
0.4 miles
Meijer Gas Station
Shops & Services
25,902 visits/mo
0.4 miles
HomeGoods
Home Improvements & Furnishings
22,468 visits/mo
0.2 miles
Earth Fare
Groceries
21,322 visits/mo
0.3 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
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Berries Pancake House — 4311 S Westnedge Ave, Kalamazoo, MI 49008
Frequently Asked Questions
What type of property is this?
Breakfast & diner - Existing restaurant tenancy supports continued breakfast and lunch use in a visible retail corridor.
Where is this breakfast & diner located?
The property is located at 4311 S Westnedge Ave Kalamazoo, MI.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Leased to an established restaurant operator with a breakfast and lunch concept; CC zoning supports the property's existing commercial restaurant use; 1972 building construction
