Flex Building with Outdoor
For Sale
$950,000
6264 King Highway, Kalamazoo, MI 49048
Versatile facility with outdoor parking and storage capacity for service, contractor, and light industrial operations.
Property Size5,213 SF
Lot Size0.98 Acres
Price / SF$182.24
Days on Market26
Property Features for 6264 King Highway
General Information
Standard status
Active
Size
5,213 SF
Lot size
0.98 Acres
Property subtype
Commercial
Zoning
CC
Site & Location
Road Access
Yes
Outdoor Storage
Yes
Taxes and HOA fees
Annual Taxes
$3,091
Building Details
Building Size
5,213 SF
Year Built
1986
Buildings
1
Stories
1
Units
1
Listing Agency:
NAI Wisinski of West Michigan
(269) 353-0311
Listed By:
Kara Schroer · License #6501373674
(269) 353-0311
Source:
Buyatthelake
Added: Aug 4
Changed: Aug 28
Last Checked: Aug 28 at 11:28AM
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 5,213 SF flex facility sits on approximately 0.98 acres and was built in 1986. Its adaptable configuration supports service, contractor, light industrial, warehouse, and specialty trade operations, with the building reported to be in good condition. Outdoor areas provide parking and storage capacity for fleet vehicles, equipment, materials, and related operational needs.
The property is located at 6264 King Highway in Comstock Township, with direct exposure to Kings Highway and access to transportation corridors. Reported traffic on the roadway is 9,297 vehicles per day according to MDOT's 2024 data. The site is zoned CC - Comstock Center.
The property is located at 6264 King Highway in Comstock Township, with direct exposure to Kings Highway and access to transportation corridors. Reported traffic on the roadway is 9,297 vehicles per day according to MDOT's 2024 data. The site is zoned CC - Comstock Center.
Key Highlights
- 5,213 SF flex building on approximately 0.98 acres
- Outdoor parking and storage areas for vehicles, equipment, and materials
- Adaptable layout for service, contractor, light industrial, warehouse, and specialty trade uses
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
$78,638
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
8.28%
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%
$1,572,760
$1.6M
Cap Rate 7%
$1,123,400
$1.1M
Cap Rate 9%
$873,756
$873.8K
Market Conditions
NOI Build-Up for 5,213 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
$115.1K $22.08/SF
− Vacancy
−$2.8K −$0.53/SF
EGI
$112.3K $21.55/SF
− OpEx
−$33.7K −$6.47/SF
NOI
$78.6K $15.09/SF
Area
Kalamazoo County, MI
Vacancy
2.40%
Lease Rate
$22.08 /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%
$1,572,760
Cap Rate 7%
$1,123,400
Cap Rate 9%
$873,756
Alternative Uses
Best Use
Warehouse
$1.36M
$1.19M – $1.59M
NOI $95,489 @ 7.0% cap · market cap 10.05%
Second Best
Industrial
$1.12M
$983.0K – $1.31M
NOI $78,638 @ 7.0% cap · market cap 8.28%
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
127
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 49048, MI
25,067
Population
10,440
Households
2.4
Avg Household Size
36
Median Age
25%
College-Educated
90%
High-School Grad
35.1 sq mi
ZIP Area
714
Density / Sq Mi
$62,160
Median Household Income
$36,150
Median Earnings
$1,032
Median Rent
$158,300
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Versatile facility with outdoor parking and storage capacity for service, contractor, and light industrial operations.
Where is this flex space located?
The property is located at 6264 King Highway Kalamazoo, MI.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 5,213 SF flex building on approximately 0.98 acres; Outdoor parking and storage areas for vehicles, equipment, and materials; Adaptable layout for service, contractor, light industrial, warehouse, and specialty trade uses
