Flexible Two-Suite Office
For Sale
Contact for pricing
501 W Willard Street D, Kalamazoo, MI 49007
Two office suites offer varied layouts, onsite parking, and a mix of private and collaborative work areas.
Property Size12,595 SF
Price / SF$0.00
Days on Market94
Property Features for 501 W Willard Street D
General Information
Standard status
Active
Size
12,595 SF
Additional Details
Office Units
2
Listing Agency:
Kalamazoo Commercial Real Estate
Listed By:
Andrew J Gyorkos · License #6502406462
(269) 888-2755
Source:
Blueowlprop
Added: Jul 15
Changed: Oct 6
Last Checked: Oct 16 at 8:48AM
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 Kalamazoo Commercial Real Estate
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Investment Insights
Based on property information with market context.
This office property combines two separately configured suites with multiple ways to organize the space. The 2,595-square-foot suite was renovated in 2020 and includes an open work area, reception, five private offices, a kitchenette, conference room, and access to a fenced courtyard through a glass overhead door. The second suite encompasses approximately 10,000 square feet and includes two large studios, a screening room, open and private offices, meeting areas, and a diner-style kitchen and lounge.
The property is located at 501-505 W Willard Street near Downtown Kalamazoo, at the corner of Westnedge Avenue and Willard Street. It is positioned across from the Kalamazoo Event Center and includes onsite parking. The existing two-suite configuration supports up to four potential layout options for office users.
The property is located at 501-505 W Willard Street near Downtown Kalamazoo, at the corner of Westnedge Avenue and Willard Street. It is positioned across from the Kalamazoo Event Center and includes onsite parking. The existing two-suite configuration supports up to four potential layout options for office users.
Key Highlights
- 2,595 SF office suite renovated in 2020
- Approximately 10,000 SF second suite with two large studios
- Two‑suite configuration with up to four potential layouts
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$126,232
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,524,640
$2.5M
Cap Rate 7%
$1,803,314
$1.8M
Cap Rate 9%
$1,402,578
$1.4M
Market Conditions
NOI Build-Up for 12,595 SF
Gross rent
$181.4K $14.40/SF
− Vacancy
−$13.1K −$1.04/SF
EGI
$168.3K $13.36/SF
− OpEx
−$42.1K −$3.34/SF
NOI
$126.2K $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 Rate 5%
$2,524,640
Cap Rate 7%
$1,803,314
Cap Rate 9%
$1,402,578
Alternative Uses
Best Use
Office B
$1.80M
$1.58M – $2.10M
NOI $126,232 @ 7.0% cap · market cap 742,541.18%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$3.30M
$2.88M – $3.85M
NOI $230,710 @ 7.0% cap · market cap 1,357,117.65%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
2
Office units
Location Intelligence
Trade Area within ½ mile
2,094
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office building - Two office suites offer varied layouts, onsite parking, and a mix of private and collaborative work areas.
Where is this office building located?
The property is located at 501 W Willard Street D Kalamazoo, MI.
What are key features of this property?
This property features: 2,595 SF office suite renovated in 2020; Approximately 10,000 SF second suite with two large studios; Two‑suite configuration with up to four potential layouts
