Freestanding Bank Branch with
For Sale
$625,000
5135 Kalamazoo Avenue SE, Kentwood, MI 49508
Freestanding former bank branch with a drive-thru, offering space for office, medical, or service uses on a prominent corridor.
Property Size3,764 SF
Lot Size0.75 Acres
Price / SF$166.05
Days on Market84
Property Features for 5135 Kalamazoo Avenue SE
General Information
Standard status
Active
Size
3,764 SF
Lot size
0.75 Acres
Property subtype
Commercial
Zoning
C-4 Office
Lease Term
Cash
Additional Details
Drive-In Doors
1
Taxes and HOA fees
Annual Taxes
$18,869
Building Details
Building Size
3,764 SF
Year Built
1979
Units
1
Listing Agency:
NAI Wisinski of West Michigan
(269) 353-0311
Listed By:
Jodi K Milks · License #6506044331
Source:
Sabudarealty
Added: Jun 2
Changed: Aug 23
Last Checked: Aug 23 at 5:23AM
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.
This freestanding former bank branch totals 3,210 SF and includes a 350 SF drive-thru area, set on 0.75 acres. The property is positioned for users that want a dedicated, standalone facility rather than a shared space arrangement. The existing configuration supports professional and service-oriented operations, with the drive-thru feature providing an added option for customer service or quick-access functions.
Located along Kalamazoo Avenue SE in Kent County, the site offers convenient access to 44th Street and 28th Street. It sits near established neighborhood retail and is close to major regional shopping destinations, including Woodland Mall and Breton Village Shopping Center. The property is zoned C-4 Office.
For buyers seeking an adaptable space, the C-4 Office zoning and existing drive-thru make the property a practical fit for professional office, medical, or other service-oriented users. Availability is targeted for September 2026. Please do not contact bank employees during business operations, and coordinate any inquiries or tours through the listed contact.
Located along Kalamazoo Avenue SE in Kent County, the site offers convenient access to 44th Street and 28th Street. It sits near established neighborhood retail and is close to major regional shopping destinations, including Woodland Mall and Breton Village Shopping Center. The property is zoned C-4 Office.
For buyers seeking an adaptable space, the C-4 Office zoning and existing drive-thru make the property a practical fit for professional office, medical, or other service-oriented users. Availability is targeted for September 2026. Please do not contact bank employees during business operations, and coordinate any inquiries or tours through the listed contact.
Key Highlights
- Freestanding 3,210 SF former bank branch with a 350 SF drive‑thru on 0.75 acres
- Zoned C‑4 Office, suitable for professional office, medical, or service‑oriented users
- Located along Kalamazoo Avenue SE with access to 44th Street and 28th Street
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
$41,865
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
6.70%
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%
$837,300
$837.3K
Cap Rate 7%
$598,071
$598.1K
Cap Rate 9%
$465,167
$465.2K
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
$58.3K $15.48/SF
− Vacancy
−$2.4K −$0.65/SF
EGI
$55.8K $14.83/SF
− OpEx
−$14.0K −$3.71/SF
NOI
$41.9K $11.12/SF
Area
Kent County, MI
Vacancy
4.20%
Lease Rate
$15.48 /SF/Yr
Expense Ratio
25.00%
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%
$837,300
Cap Rate 7%
$598,071
Cap Rate 9%
$465,167
Alternative Uses
Best Use
Specialty Retail
$598.1K
$523.3K – $697.8K
NOI $41,865 @ 7.0% cap · market cap 6.70%
Second Best
Retail
$558.2K
$488.4K – $651.2K
NOI $39,074 @ 7.0% cap · market cap 6.25%
Theoretical Best
Office A
$673.2K
$589.1K – $785.4K
NOI $47,125 @ 7.0% cap · market cap 7.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
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
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Frequently Asked Questions
What type of property is this?
Bank - Freestanding former bank branch with a drive-thru, offering space for office, medical, or service uses on a prominent corridor.
Where is this bank located?
The property is located at 5135 Kalamazoo Avenue SE Kentwood, 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: Freestanding 3,210 SF former bank branch with a 350 SF drive‑thru on 0.75 acres; Zoned C‑4 Office, suitable for professional office, medical, or service‑oriented users; Located along Kalamazoo Avenue SE with access to 44th Street and 28th Street
