Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    5217 Lovers Lane Portage, MI 49002

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $499,000

    Two-story office building on Lovers Lane with multi-tenant potential.

    Type:Commercial/Industrial
    Lot size:
    0.79 Acres
    Added:
    Mar 11, 2026
    Days on Market:
    24
    Last Refresh:
    Apr 1 at 10:31 pm

    Property Features for 5217 Lovers Lane

    General Information

    Standard status
    Active
    Lot size
    0.79 Acres
    Property subtype
    Commercial/Industrial

    Building Details

    Year Built
    1995

    We can help!

    Listing Contact
    Eric Bolles
    Eric Bolles

    Listing agent Eric Bolles License #6501400653

    Listing office Callander Commercial

    Listing date Mar 11, 2026

    Source Exitrealty

    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 Callander Commercial

    Overview

    Lovers Lane Office Building For Sale

    This two-story office building is situated on Lovers Lane, near Kilgore Road and across from the Trestlebridge Office Center. Each floor features its own entrance and parking area. Both levels are handicap accessible, offering potential for multi-tenant use. The building contains large offices and furniture is available. The roof has been recently replaced, and the parking lot is in good condition. All uses are subject to municipal approval. Showings must be scheduled after 5 pm or on weekends.
    Location Intelligence

    Current Use by Public Records

    Office buildings

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Portage
    County
    Kalamazoo
    State
    Michigan
    Longitude
    -85.5744
    Latitude
    42.2417

    Nearby Similar for Sale

    • $1,450,000
      14,589 SF

      Versatile Flex/Industrial Building in Portage

      Adaptable flex/industrial building near US-131, suitable for various uses.
      9340 Shaver Road, Portage, MI 49024
      View Details
    • $525,000
      2,118 SF

      Corner Commercial Building For Sale

      2,118 SF building in excellent condition, ready for occupancy.
      7940 S Sprinkle Road, Portage, MI 49002
      View Details
    • $925,000
      8,400 SF

      Fully Leased Investment Opportunity

      Fully leased commercial condo units in North Portage.
      5120 Lovers Lane, Portage, MI 49002
      View Details
    • $695,000
      10,520 SF

      Portage Industrial Building For Sale

      10,520 SF industrial building on 0.89 acres in Portage.
      9702 Portage Road, Portage, MI 49002
      View Details
    • $179,000
      864 SF

      Versatile Commercial Property in Portage

      Commercial B-3 zoned property with ample parking and accessibility.
      5837 Portage Road, Portage, MI 49002
      View Details
    • $1,875,000
      18,140 SF

      Portage Industrial Building For Sale

      18,140 SF industrial building ideal for various operations.
      9350 Shaver Road, Portage, MI 49024
      View Details
    • $299,000
      2,031 SF

      Turnkey Restaurant Opportunity in Portage

      Former breakfast restaurant with all furniture, fixtures, and equipment.
      6907 Sears Drive, Portage, MI 49024
      View Details
    • $139,900
      1,439 SF

      Move-in Ready Portage Office Space

      Efficient 1,439 SF office suite in Portage, Michigan.
      5096 Lovers Lane, Portage, MI 49002
      View Details
    • $159,900
      1,439 SF

      Move-in Ready Portage Office Space

      Efficient 1,439 SF office suite in Portage, Michigan.
      5094 Lovers Lane, Portage, MI 49002
      View Details
    • $349,900
      5,349 SF

      Commercial Lots in Portage Center

      Commercial lots with buildings in Portage Lake Center district.
      8324/8328 Portage Road, Portage, MI 49002
      View Details
    • $149,900
      1,066 SF

      Portage Industrial Building For Sale

      1,066 SF standalone building suited for industrial or office use.
      6242 Lovers Lane, Portage, MI 49002
      View Details
    • $1,650,000
      7,428 SF

      Remodeled Restaurant Building Near Airport

      Remodeled 7,428 SF restaurant with high capacity and ample parking.
      5402 Portage Road, Portage, MI 49002
      View Details

    FAQs

    What type of property is this?
    Office building - Two-story office building on Lovers Lane with multi-tenant potential.
    Where is this office building located?
    The property is located at 5217 Lovers Lane Portage, MI.
    What is the asking price?
    The asking price for this property is $499,000.
    What are key features of this property?
    This property features: Convenient location on Busy Lovers Lane near Kilgore Road and Trestlebridge Office Center.; Two floors, each with its own entrance and parking.; Handicap accessible on both levels, suitable for multi‑tenant use.
    (269) 349-1000
    We can help!
    Listing Contact
    Eric Bolles
    Eric Bolles
    Real Estate License ID: 6501400653
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!