Two-Building Office
For Sale
$535,000
6281-6301 Stadium Drive, Kalamazoo, MI 49009
Two office buildings with Village Commercial District zoning and the option to acquire them together or separately.
Property Size4,879 SF
Lot Size0.86 Acres
Days on Market9
Property Features for 6281-6301 Stadium Drive
General Information
Standard status
Active
Size
4,879 SF
Lot size
0.86 Acres
Property subtype
Commercial
Zoning
Village Commercial District
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$18,387
Building Details
Building Size
4,879 SF
Year Built
1951
Buildings
2
Stories
1
Units
2
Listing Agency:
Kalamazoo Commercial Real Estate
(269) 888-2755
Listed By:
Andrew J Gyorkos · License #6502406462
(269) 888-2755
Source:
Irishhillsfivestarhomes
Added: Aug 22
Changed: Aug 29
Last Checked: Aug 29 at 3:38PM
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 Kalamazoo Commercial Real Estate
Investment Insights
Based on property information with market context.
This offering includes two office buildings at 6281 Stadium Drive and 6301 Stadium Drive, situated on approximately 0.862 acres. Constructed in 1951, the properties are available as a combined acquisition or as separate purchases, providing flexibility for different ownership strategies.
The buildings are positioned along Stadium Drive in Oshtemo Township, near the 9th Street and Parkview Avenue intersection and approximately one mile from US-131. The site is zoned Village Commercial District, with permitted uses detailed on page three of the applicable zoning information.
The buildings are positioned along Stadium Drive in Oshtemo Township, near the 9th Street and Parkview Avenue intersection and approximately one mile from US-131. The site is zoned Village Commercial District, with permitted uses detailed on page three of the applicable zoning information.
Key Highlights
- Two office buildings offered together or separately
- Approximately 0.862 acres
- 6281 and 6301 Stadium Drive addresses included
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
$48,899
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
9.14%
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%
$977,980
$978.0K
Cap Rate 7%
$698,557
$698.6K
Cap Rate 9%
$543,322
$543.3K
Market Conditions
NOI Build-Up for 4,879 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
$70.3K $14.40/SF
− Vacancy
−$5.1K −$1.04/SF
EGI
$65.2K $13.36/SF
− OpEx
−$16.3K −$3.34/SF
NOI
$48.9K $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%
$977,980
Cap Rate 7%
$698,557
Cap Rate 9%
$543,322
Alternative Uses
Best Use
Office B
$698.6K
$611.2K – $815.0K
NOI $48,899 @ 7.0% cap · market cap 9.14%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$1.28M
$1.12M – $1.49M
NOI $89,371 @ 7.0% cap · market cap 16.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
410
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 - Two office buildings with Village Commercial District zoning and the option to acquire them together or separately.
Where is this office building located?
The property is located at 6281-6301 Stadium Drive Kalamazoo, MI.
What is the asking price?
The asking price for this property is $535,000.
What are key features of this property?
This property features: Two office buildings offered together or separately; Approximately 0.862 acres; 6281 and 6301 Stadium Drive addresses included
