Kalamazoo R&D Office
4775 Campus Dr Kalamazoo, MI 49008
For Sale
$3,995,000
Class A office building near Western Michigan University for sale.
Property Size23,059 SF
Price / SF$173.25
Days on Market95
Property Features for 4775 Campus Dr
General Information
Standard status
Active
Size
23,059 SF
Property subtype
Commercial
Building Details
Year Built
2002
Listing Agency:
NAI Wisinski of West Michigan
(269) 353-0311
Listed By:
Jodi K Milks · License #6506044331
Source:
Elliman
Added: Apr 24
Changed: Jul 10
Last Checked: Jul 26 at 11:45AM
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 Class A, 23,059 square foot R&D office building is located within Western Michigan University's Business Technology and Research Park in Kalamazoo. The property features extensive window lines and a flexible floor plan that includes a mix of private offices and open work areas. The building is 87% leased to long-time tenants, including EPS Security, StructureTec, and Jones & Henry Engineering. One suite was recently vacated due to tenant expansion and is currently being marketed for lease. The property is positioned minutes from US-131 and I-94, offering direct proximity to Western Michigan University's College of Engineering, which provides access to a strong regional talent pipeline. The building is zoned CBTR (Commercial, Business, Technology, and Research) in the City of Kalamazoo. The sale price is based on a 7.7% cap rate and a 13% vacancy rate. The location has a walk score of 28, indicating it is car-dependent, and a bike score of 26, indicating it is somewhat bikeable.
Key Highlights
- Class A, 23,059 SF R&D office building in Western Michigan University's Business Technology and Research Park.
- 87% leased to long‑term tenants including EPS Security, StructureTec, and Jones & Henry Engineering.
- Located minutes from US‑131 and I‑94, with direct proximity to Western Michigan University's College of Engineering.
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $332.0k | $14.40 |
| − Vacancy | −$23.9k | −$1.04 |
| EGI | $308.1k | $13.36 |
| − OpEx | −$77.0k | −$3.34 |
| NOI | $231.1k | $10.02 |
23,059 SF · lease $14.40/SF/yr · vacancy 7.20% · expense 25.00%
Alternative Uses
Best Use
Office B
$3.30M
$2.89M – $3.85M
NOI $231,107 @ 7.0% cap · market cap 5.78%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$6.03M
$5.28M – $7.04M
NOI $422,385 @ 7.0% cap · market cap 10.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office building - Class A office building near Western Michigan University for sale.
Where is this office building located?
The property is located at 4775 Campus Dr Kalamazoo, MI.
What is the asking price?
The asking price for this property is $3,995,000.
What are key features of this property?
This property features: Class A, 23,059 SF R&D office building in Western Michigan University's Business Technology and Research Park.; 87% leased to long‑term tenants including EPS Security, StructureTec, and Jones & Henry Engineering.; Located minutes from US‑131 and I‑94, with direct proximity to Western Michigan University's College of Engineering.
