Five-Unit Office
For Sale
$899,900
5120 Lovers Lane, Portage, MI 49002
Commercial Sale, Portage, MI
Property Size8,400 SF
Price / SF$107.13
Days on Market276
Property Features for 5120 Lovers Lane
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
B-2
Bathrooms
5
Full bathrooms
5
Rooms
Bathroom 3, Bathroom 4, Bathroom 2, Bathroom 1, Bathroom 5
Parking
35
Interior features
Broadband
Elementary school district
Portage
Middle school district
Portage
High school district
Portage
Directions
From E Kilgore Rd head South on Lovers Lane to property.
Subdivision
Greater Kalamazoo - K
Standard status
Active
APN
3900003049C
Size
8,400 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
Trestlewood office condo unit 11
Tax Annual Amount
21215
Legal Description
Trestlewood office condo unit 11
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1985
Floors in Building
1
Number of units
5
Building materials
Wood Siding
Roof type
Composition
Listing Agency:
Berkshire Hathaway HomeServices MI
(269) 344-8599
Listed By:
Ryan Rider · License #6501273398
(269) 488-3888
Added: Jan 2
Changed: Sep 16
Last Checked: Oct 5 at 5:06PM
MLS# 26000359
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.
Investment Insights
Based on property information with market context.
This 8,400-square-foot office property contains five separate condominium units and was built in 1985. The current occupant mix includes two dental practices, an accounting office, a counseling practice, and a massage business. Each unit contributes to a diversified professional-service configuration within the building.
The property occupies a wooded setting in Portage, with views toward a creek and trail. Building features include wood siding, a composition roof, forced-air heating, central air conditioning, and broadband access. Five bathrooms are identified in the property information, supporting the multi-unit office layout.
The property occupies a wooded setting in Portage, with views toward a creek and trail. Building features include wood siding, a composition roof, forced-air heating, central air conditioning, and broadband access. Five bathrooms are identified in the property information, supporting the multi-unit office layout.
Key Highlights
- 8,400‑square‑foot office property with five separate condominium units
- Fully leased to two dental practices, an accounting office, a counseling practice, and a massage business
- Built in 1985 with wood siding and a composition roof
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$75,524
Cap Rate
8.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,510,480
$1.5M
Cap Rate 7%
$1,078,914
$1.1M
Cap Rate 9%
$839,156
$839.2K
Market Conditions
NOI Build-Up for 8,400 SF
Gross rent
$136.1K $16.20/SF
− Vacancy
−$10.2K −$1.22/SF
EGI
$125.9K $14.99/SF
− OpEx
−$50.3K −$5.99/SF
NOI
$75.5K $8.99/SF
Area
Kalamazoo County, MI
Vacancy
7.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,510,480
Cap Rate 7%
$1,078,914
Cap Rate 9%
$839,156
Alternative Uses
Best Use
Office B
$1.20M
$1.05M – $1.40M
NOI $84,188 @ 7.0% cap · market cap 9.36%
Second Best
Healthcare Medical
$1.08M
$944.1K – $1.26M
NOI $75,524 @ 7.0% cap · market cap 8.39%
Theoretical Best
Warehouse
$2.20M
$1.92M – $2.56M
NOI $153,868 @ 7.0% cap · market cap 17.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
5
Office units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
253
Businesses Nearby
Explore this area
Business Placement
Demographics for 49002, MI
19,553
Population
8,975
Households
2.2
Avg Household Size
41
Median Age
43%
College-Educated
96%
High-School Grad
17.3 sq mi
ZIP Area
1,130
Density / Sq Mi
$71,621
Median Household Income
$45,938
Median Earnings
$910
Median Rent
$223,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office units - Fully leased office property comprising separate condominium units with varied professional service occupants.
Where is this office units located?
The property is located at 5120 Lovers Lane Portage, MI.
What is the asking price?
The asking price for this property is $899,900.
What are key features of this property?
This property features: 8,400‑square‑foot office property with five separate condominium units; Fully leased to two dental practices, an accounting office, a counseling practice, and a massage business; Built in 1985 with wood siding and a composition roof
