Flexible Commercial Showroom
E 5100 E Michigan Avenue Unit SourceFi Kalamazoo, MI 49048
E 5100 E Michigan Avenue Unit SourceFi, Kalamazoo, MI, 49048
$199,900
For Sale
$199,900
Former car dealership building with two private offices and two large open areas for sales, retail, service, or light commercial use.
Property Size1,320 SF
Price / SF$151.44
Days on Market41
Property Features for E 5100 E Michigan Avenue Unit SourceFi
General Information
- Standard status
- Active
- Size
- 1,320 SF
- Property subtype
- Industrial
Building Details
- Year Built
- 2002
Listing Agency
(269) 544-9699
Listed by
Five Star Real Estate
(269) 544-9699
Source
Xome
Added: Jun 9 Checked: Jul 19 at 2:01 am
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 Five Star Real Estate
Investment Insights
Based on property information with market context.
This flexible commercial building was formerly operated as a car dealership and offers multiple adaptable spaces. The interior includes two private offices plus two large open areas with spacious layouts intended to support a range of operational setups. Depending on the business, the open floor plans can be used for sales and customer-facing activity, retail merchandising, service operations, or light commercial work, while the offices provide dedicated room for management, administration, or client meetings.
The property is described as well-positioned with strong traffic exposure. It is offered for sale, with a layout that allows a new owner to tailor the space to their specific needs, including continued vehicle-related use, specialty retail, or professional and service office applications.
The property is described as well-positioned with strong traffic exposure. It is offered for sale, with a layout that allows a new owner to tailor the space to their specific needs, including continued vehicle-related use, specialty retail, or professional and service office applications.
Key Highlights
- Former car dealership building built in 2002
- Flexible commercial layout with two private offices and two large open areas
- Open floor plans suited for sales, retail, service, or light commercial uses
Local 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 | $19.0k | $14.40 |
| − Vacancy | −$1.4k | −$1.04 |
| EGI | $17.6k | $13.36 |
| − OpEx | −$4.4k | −$3.34 |
| NOI | $13.2k | $10.02 |
1,320 SF · lease $14.40/SF/yr · vacancy 7.20% · expense 25.00%
Alternative Uses
Best Use
Industrial
$284.5K
$248.9K – $331.9K
NOI $19,912 @ 7.0% cap · market cap 9.96%
Second Best
Office B
$189.0K
$165.4K – $220.5K
NOI $13,230 @ 7.0% cap · market cap 6.62%
Theoretical Best
Warehouse
$345.4K
$302.2K – $403.0K
NOI $24,179 @ 7.0% cap · market cap 12.10%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Gregersen Photography, LLC
Photography Service
Similar For Sale Nearby
FAQs
What type of property is this?
Flex space - Former car dealership building with two private offices and two large open areas for sales, retail, service, or light commercial use.
Where is this flex space located?
The property is located at E 5100 E Michigan Avenue Unit SourceFi Kalamazoo, MI.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: Former car dealership building built in 2002; Flexible commercial layout with two private offices and two large open areas; Open floor plans suited for sales, retail, service, or light commercial uses
