Freestanding Bank Branch with
New
For Sale
$625,000
5135 Kalamazoo Ave SE, Grand Rapids, MI 49508
C-4 Office-zoned property offering a freestanding branch layout with convenient access to major area roads.
Property Size3,764 SF
Lot Size0.75 Acres
Price / SF$166.05
Days on Market2
Property Features for 5135 Kalamazoo Ave SE
General Information
Standard status
Active
Size
3,764 SF
Lot size
0.75 Acres
Zoning
C-4 Office
Additional Details
Road Access
Yes
Building Details
Year Built
1979
Buildings
1
Listing Agency:
NAI Wisinski of West Michigan
Listed By:
Jodi K Milks · License #6506044331
(269) 353-0311
Source:
Katie-k
Added: Sep 6
Last Checked: Sep 6 at 2:39PM
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.
Built in 1979, this freestanding former bank branch includes 3,210 square feet of building area along with a 350-square-foot drive-thru. The property occupies 0.75 acres and is zoned C-4 Office, supporting consideration for professional office, medical, and service-oriented uses identified for the site.
The property is located on Kalamazoo Avenue SE with access to 44th Street and 28th Street. Established neighborhood retail is nearby, with Woodland Mall and Breton Village Shopping Center also within close proximity. Availability is scheduled for September 2026.
The property is located on Kalamazoo Avenue SE with access to 44th Street and 28th Street. Established neighborhood retail is nearby, with Woodland Mall and Breton Village Shopping Center also within close proximity. Availability is scheduled for September 2026.
Key Highlights
- 3,210 SF freestanding former bank branch
- 350 SF drive‑thru
- 0.75‑acre property
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$54,562
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.73%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,091,240
$1.1M
Cap Rate 7%
$779,457
$779.5K
Cap Rate 9%
$606,244
$606.2K
Market Conditions
NOI Build-Up for 3,764 SF
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.
Gross rent
$82.7K $21.96/SF
− Vacancy
−$4.7K −$1.25/SF
EGI
$77.9K $20.71/SF
− OpEx
−$23.4K −$6.21/SF
NOI
$54.6K $14.50/SF
Area
Grand Rapids, MI
Vacancy
5.70%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,091,240
Cap Rate 7%
$779,457
Cap Rate 9%
$606,244
Alternative Uses
Best Use
Specialty Retail
$873.5K
$764.3K – $1.02M
NOI $61,146 @ 7.0% cap · market cap 9.78%
Second Best
Retail
$779.5K
$682.0K – $909.4K
NOI $54,562 @ 7.0% cap · market cap 8.73%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
158
Businesses Nearby
Explore this area
Business Placement
Demographics for 49508, MI
41,851
Population
16,583
Households
2.5
Avg Household Size
36
Median Age
33%
College-Educated
88%
High-School Grad
11.8 sq mi
ZIP Area
3,547
Density / Sq Mi
$65,328
Median Household Income
$41,115
Median Earnings
$1,179
Median Rent
$257,900
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Bank - C-4 Office-zoned property offering a freestanding branch layout with convenient access to major area roads.
Where is this bank located?
The property is located at 5135 Kalamazoo Ave SE Grand Rapids, MI.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: 3,210 SF freestanding former bank branch; 350 SF drive‑thru; 0.75‑acre property
