Flexible-Layout Office
For Sale
$899,900
5990 Venture Park Drive, Kalamazoo, MI 49009
The interior combines private offices, meeting rooms, open work areas, a break room, and storage.
Property Size6,800 SF
Lot Size1.24 Acres
Price / SF$132.34
Days on Market156
Property Features for 5990 Venture Park Drive
General Information
Standard status
Active
Size
6,800 SF
Total Parking Spaces
22
Lot size
1.24 Acres
Property subtype
Commercial
Additional Details
Tenant in Place
Yes
Property Use
Office
Taxes and HOA fees
Annual Taxes
$24,493
Building Details
Building Size
6,800 SF
Year Built
1998
Buildings
1
Units
1
Tenancy
Single
Parking Ratio
3.23 per 1,000 SF
Owner Occupied
No
Listing Agency:
NAI Wisinski of West Michigan
(269) 353-0311
Listed By:
Kara Schroer · License #6501373674
(269) 459-0435
Source:
Housewant
Added: Jun 2
Changed: Nov 3
Last Checked: Nov 4 at 7:48AM
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
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Investment Insights
Based on property information with market context.
This 6,800-square-foot office building occupies 1.236 acres and is currently arranged for one tenant. Its mix of private offices, meeting rooms, open work areas, a break room, and storage supports a range of workplace configurations. The building was previously occupied by two tenants and can be converted back to a multi-tenant layout. On-site parking totals 22 spaces.
Located on Venture Park Drive just off Stadium Drive in Oshtemo Township, the property is zoned C COMM. The current tenant’s lease runs through June 2027, providing a defined period of occupancy before the lease term ends.
Located on Venture Park Drive just off Stadium Drive in Oshtemo Township, the property is zoned C COMM. The current tenant’s lease runs through June 2027, providing a defined period of occupancy before the lease term ends.
Key Highlights
- 6,800‑square‑foot office building on 1.236 acres
- Previously occupied by two tenants; currently configured for a single tenant
- Current tenant lease runs through June 2027
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$68,152
Cap Rate
7.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,363,040
$1.4M
Cap Rate 7%
$973,600
$973.6K
Cap Rate 9%
$757,244
$757.2K
Market Conditions
NOI Build-Up for 6,800 SF
Gross rent
$97.9K $14.40/SF
− Vacancy
−$7.1K −$1.04/SF
EGI
$90.9K $13.36/SF
− OpEx
−$22.7K −$3.34/SF
NOI
$68.2K $10.02/SF
Area
Kalamazoo County, MI
Vacancy
7.20%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,363,040
Cap Rate 7%
$973,600
Cap Rate 9%
$757,244
Alternative Uses
Best Use
Office B
$973.6K
$851.9K – $1.14M
NOI $68,152 @ 7.0% cap · market cap 7.57%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$1.78M
$1.56M – $2.08M
NOI $124,559 @ 7.0% cap · market cap 13.84%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
665
Businesses Nearby
Explore this area
Business Placement
Demographics for 49009, MI
47,188
Population
20,609
Households
2.3
Avg Household Size
38
Median Age
50%
College-Educated
96%
High-School Grad
102.2 sq mi
ZIP Area
462
Density / Sq Mi
$82,364
Median Household Income
$44,702
Median Earnings
$1,089
Median Rent
$330,300
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office building - The interior combines private offices, meeting rooms, open work areas, a break room, and storage.
Where is this office building located?
The property is located at 5990 Venture Park Drive Kalamazoo, 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: 6,800‑square‑foot office building on 1.236 acres; Previously occupied by two tenants; currently configured for a single tenant; Current tenant lease runs through June 2027
