Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Flexible Office Space Near Downtown Title is generated by Realmo AI

    501 W Willard Street, Kalamazoo, MI 49007

    View on Map
    Claim this Listing
    For Lease
    $18 SF/Yr $10,500/Mo (calc)

    COMMERCIAL - Kalamazoo, MI

    Type:Office
    Property size:
    7,000 SF
    Added:
    May 13, 2026
    Days on Market:
    19
    Last Refresh:
    May 31 at 3:06 pm

    Property Features for 501 W Willard Street

    General Information

    Property type
    Commercial Lease
    Property subtype
    Office
    Fireplace
    1
    Standard status
    Active
    APN
    06-16-434-010
    Size
    7,000 SF

    Taxes and HOA fees

    Tax Description
    On file.

    Utilities

    Utilities
    Cable Available
    Heating system
    Forced Air

    Building Details

    Year built
    1954

    We can help!

    Listing Contact
    Andrew J Gyorkos
    Andrew J Gyorkos

    Listing agent Andrew J Gyorkos License #6502406462

    Listing office Kalamazoo Commercial Real Estate 501 W Willard Street, Kalamazoo, MI

    Listing date May 13, 2026

    MLS# 26021852

    Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    The property at 501-505 W Willard Street presents a flexible office opportunity situated near Downtown Kalamazoo and directly across from the Kalamazoo Event Center. Currently configured as two suites, the location provides up to four potential layout options suitable for office users. The property benefits from ample on-site parking and high visibility at the corner of Westnedge Avenue and Willard Street. Suite 501 W Willard, a 2,595 square foot modern office suite, was fully renovated in 2020. It features an open floorplan with natural light, a reception area, five private offices, a kitchenette, a conference room, and a glass overhead door that opens to a private fenced-in courtyard. Suite 505 W Willard offers approximately 10,000 square feet, currently built out for a media company. This space includes two large studios, one with an overhead door, a screening room, open and private offices, meeting areas, and a 1950s diner-style kitchen and lounge.
    Property Profile Location Intelligence

    Current Use by Public Records

    Advanced Business Brokers Business Management Consultant Kalamazoo Commercial Real ... Real Estate Agency

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Kalamazoo
    County
    Kalamazoo
    State
    Michigan
    Longitude
    -85.59033
    Latitude
    42.295257

    Nearby Similar for Lease

    • $18 SF/Yr
      6,120 SF

      Downtown Kalamazoo Office Space Available

      Professional office suites in the heart of Downtown Kalamazoo.
      350 E Michigan Avenue, Kalamazoo, MI 49007
      View Details
    • $18 SF/Yr
      1,852 SF

      Professional Office Suite in Kalamazoo

      Move-in-ready office suite with high-end finishes and natural light.
      350 E Michigan Avenue, Kalamazoo, MI 49007
      View Details
    • $20 SF/Yr
      2,595 SF

      Kalamazoo Office Space For Rent

      Flexible office opportunity near Downtown Kalamazoo with ample parking.
      501 W Willard Street, Kalamazoo, MI 49007
      View Details
    • $18 SF/Yr
      10,000 SF

      Kalamazoo Office Space For Rent

      Flexible office opportunity near Downtown Kalamazoo with ample parking.
      501 W Willard Street, Kalamazoo, MI 49007
      View Details
    • $18 SF/Yr
      1,381 SF

      Downtown Kalamazoo Office Suite

      Move-in ready office suite in downtown Kalamazoo with excellent accessibility.
      350 E Michigan Avenue, Kalamazoo, MI 49007
      View Details
    • $18 SF/Yr
      2,404 SF

      Downtown Kalamazoo Office Suite

      Functional office suite with natural light and downtown views.
      350 E Michigan Avenue, Kalamazoo, MI 49007
      View Details
    • $18 SF/Yr
      481 SF

      Downtown Kalamazoo Office Suite

      Professional office suite in the heart of Downtown Kalamazoo.
      350 E Michigan Avenue, Kalamazoo, MI 49007
      View Details
    • $18 SF/Yr
      3,349 SF

      Downtown Kalamazoo Office Suite

      Professional office suite in downtown Kalamazoo with on-site parking.
      350 E Michigan Avenue, Kalamazoo, MI 49007
      View Details
    • $29 SF/Yr
      2,623 SF

      Freestanding Retail Building in Kalamazoo

      2,623 SF retail building in established commercial corridor.
      3811 S Westnedge Avenue, Kalamazoo, MI 49008
      View Details
    • $19 SF/Yr
      2,524 SF

      Renovated Office Space Available

      Multi-tenant office space, renovated in 2022, with easy highway access.
      4000 Portage Street, Kalamazoo, MI 49001
      View Details
    • $15 SF/Yr
      6,160 SF

      Downtown Kalamazoo Commercial Space Available

      Landmark property near upcoming event center, ideal for various businesses.
      308 W Michigan Avenue, Kalamazoo, MI 49007
      View Details
    • $18 SF/Yr
      11,823 SF

      Kalamazoo Avenue Office/Retail Space

      New office/retail space near the Event Center with parking.
      615 W Kalamazoo Avenue, Kalamazoo, MI 49007
      View Details

    FAQs

    What type of property is this?
    Office units - Office suites with ample parking and high visibility available for lease.
    Where is this office units located?
    The property is located at 501 W Willard Street Kalamazoo, MI.
    What is the lease rate?
    The lease rate is $18 SF/Yr.
    (269) 888-2755
    We can help!
    Listing Contact
    Andrew J Gyorkos
    Andrew J Gyorkos
    Real Estate License ID: 6502406462
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    501 W Willard Street, Kalamazoo, MI 49007
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!