Single-Tenant Office Building
For Sale
$899,900
5990 Venture Park Drive, Kalamazoo, MI 49009
COMMERCIAL - Kalamazoo, MI
Property Size6,800 SF
Lot Size1.24 Acres
Price / SF$132.34
Days on Market92
Property Features for 5990 Venture Park Drive
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
C COMM
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Parking
22
Elementary school district
Kalamazoo
Middle school district
Kalamazoo
High school district
Kalamazoo
Standard status
Active
APN
05-25-153-150
Size
6,800 SF
Lot size
1.24 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
On file.
Tax Annual Amount
24493
Legal Description
On file.
Utilities
Utilities
Cable Available
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1998
Floors in Building
1
Number of units
1
Building materials
Brick
Listing Agency:
NAI Wisinski of West Michigan
(269) 353-0311
Listed By:
Kara Schroer · License #6501373674
(269) 459-0435
Added: Jun 2
Changed: Aug 4
Last Checked: Sep 1 at 12:06PM
MLS# 26026463
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 6,800-square-foot office building is configured for single-tenant use and includes private offices, meeting rooms, open work areas, a break room, and storage. The building footprint sits on 1.24 acres and provides 22 on-site parking spaces, supporting everyday employee and visitor access. While currently set up for one tenant, it was previously occupied by two tenants and could be reworked into a multi-tenant configuration if a buyer wants to accommodate more than one user.
The property is located on Venture Park Drive just off Stadium Drive in Oshtemo Township. For buyers evaluating timing and control, the existing tenant’s lease runs through June 2027, creating a defined horizon for planning an owner-occupancy transition.
As an owner-user or small investor-operator, the space is designed to support a range of office functions with dedicated rooms for collaboration and administration, along with open work areas for teams. With the option to occupy all or part of the building and the on-site parking count already established, this property may fit organizations seeking an owned office base while maintaining flexibility for future space planning.
The property is located on Venture Park Drive just off Stadium Drive in Oshtemo Township. For buyers evaluating timing and control, the existing tenant’s lease runs through June 2027, creating a defined horizon for planning an owner-occupancy transition.
As an owner-user or small investor-operator, the space is designed to support a range of office functions with dedicated rooms for collaboration and administration, along with open work areas for teams. With the option to occupy all or part of the building and the on-site parking count already established, this property may fit organizations seeking an owned office base while maintaining flexibility for future space planning.
Key Highlights
- 6,800 SF brick office building built in 1998 on 1.236 acres in Oshtemo Township
- Currently configured as single‑tenant; previously two tenants and could be converted back to a multi‑tenant layout
- Tenant lease runs through June 2027, providing a defined timeline for a future owner‑user
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
$68,152
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
7.57%
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%
$1,363,040
$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
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
$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 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%
$1,363,040
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.
Property Analytics
Property Profile
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
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?
Office building - Multi-office layout with meeting rooms and ample parking, offering owner-user flexibility in a limited ownership market.
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 SF brick office building built in 1998 on 1.236 acres in Oshtemo Township; Currently configured as single‑tenant; previously two tenants and could be converted back to a multi‑tenant layout; Tenant lease runs through June 2027, providing a defined timeline for a future owner‑user
