Renovated Office Building For
For Sale
$260,000
6301 Stadium Drive, Kalamazoo, MI 49009
Renovated 1,747 SF office building on 0.519 acres.
Property Size1,747 SF
Lot Size0.52 Acres
Price / SF$148.83
Days on Market96
Property Features for 6301 Stadium Drive
General Information
Standard status
Active
Size
1,747 SF
Lot size
0.52 Acres
Property subtype
Commercial
Lease Term
Cash, Conventional
Taxes and HOA fees
Annual Taxes
$7,608
Building Details
Building Size
1,747 SF
Year Built
1951
Units
1
Listing Agency:
Kalamazoo Commercial Real Estate
(269) 888-2755
Listed By:
Andrew J Gyorkos
(269) 888-2755
Source:
Sabudarealty
Added: May 21
Changed: Aug 23
Last Checked: Aug 23 at 8:11AM
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 renovated office building offers 1,747 square feet of space with a functional layout. The property is situated in a highly visible location on Stadium Drive, near the intersection of 9th Street and Parkview Avenue, and is one mile from US-131. The building includes five private offices, two restrooms, a kitchenette, garage storage space, and a reception office with a window to the lobby. The property is situated on 0.519 acres, offering flexibility for a variety of office or commercial users. It is available for sale separately or as part of a larger redevelopment opportunity with 6281 Stadium Drive. The bike score is 31, indicating it is somewhat bikeable, and the walk score is 15, indicating it is car-dependent.
Key Highlights
- Renovated 1,747 SF office building
- Highly visible Stadium Drive location near 9th Street and Parkview Avenue
- Features five private offices, two restrooms, and a kitchenette
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
$17,509
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
6.73%
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%
$350,180
$350.2K
Cap Rate 7%
$250,129
$250.1K
Cap Rate 9%
$194,544
$194.5K
Market Conditions
NOI Build-Up for 1,747 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
$25.2K $14.40/SF
− Vacancy
−$1.8K −$1.04/SF
EGI
$23.3K $13.36/SF
− OpEx
−$5.8K −$3.34/SF
NOI
$17.5K $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%
$350,180
Cap Rate 7%
$250,129
Cap Rate 9%
$194,544
Alternative Uses
Best Use
Office B
$250.1K
$218.9K – $291.8K
NOI $17,509 @ 7.0% cap · market cap 6.73%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$457.2K
$400.0K – $533.4K
NOI $32,001 @ 7.0% cap · market cap 12.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
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Frequently Asked Questions
What type of property is this?
Office building - Renovated 1,747 SF office building on 0.519 acres.
Where is this office building located?
The property is located at 6301 Stadium Drive Kalamazoo, MI.
What is the asking price?
The asking price for this property is $260,000.
What are key features of this property?
This property features: Renovated 1,747 SF office building; Highly visible Stadium Drive location near 9th Street and Parkview Avenue; Features five private offices, two restrooms, and a kitchenette
