Redevelopment Land with Existing
For Sale
$1,125,000
6883 W Main Street, Kalamazoo, MI 49009
Redevelopment site with 374 feet of frontage and an existing building that can be repurposed with renovations.
Property Size13,693 SF
Price / SF$82.16
Days on Market300
Property Features for 6883 W Main Street
General Information
Standard status
Active
Size
13,693 SF
Property subtype
Industrial
Site & Location
Traffic Count
27,000 vehicles/day
Highway Access
Yes
Amenities
3
Composition
Building Details
Year Built
1989
Listing Agency:
(269) 349-1000
Listed By:
Callander Commercial
Source:
Xome
Added: Oct 25, 2025
Changed: Aug 12
Last Checked: Aug 19 at 5:38AM
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 Callander Commercial
Investment Insights
Based on property information with market context.
Redevelopment opportunity on West Main near the 9th Street intersection in Oshtemo Township. The site offers 374 feet of frontage and traffic counts over 27,000 vehicles per day. An existing 13,693 sf building is on-site and can be repurposed with renovations, supporting plans for single or multi-tenant use.
The property is positioned near major retailers and employment, including WalMart, Menard's, Meijer, Advia Corporate Headquarters, and a new Maple Hill Subaru dealership. With easy access to all of Kalamazoo County from both US-131 and I-94, the location supports flexible redevelopment and reuse.
The offering combines commercially zoned land with an existing structure, giving an adaptable platform for redevelopment concepts that require visibility and frontage.
The property is positioned near major retailers and employment, including WalMart, Menard's, Meijer, Advia Corporate Headquarters, and a new Maple Hill Subaru dealership. With easy access to all of Kalamazoo County from both US-131 and I-94, the location supports flexible redevelopment and reuse.
The offering combines commercially zoned land with an existing structure, giving an adaptable platform for redevelopment concepts that require visibility and frontage.
Key Highlights
- Redevelopment site on West Main near the 9th Street intersection in Oshtemo Township with existing 13,693 SF building for repurposing
- 374 ft of frontage on West Main with traffic counts over 27,000 daily
- Existing building built in 1989 with composition roof
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
$92,365
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
8.21%
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%
$1,847,300
$1.8M
Cap Rate 7%
$1,319,500
$1.3M
Cap Rate 9%
$1,026,278
$1.0M
Market Conditions
NOI Build-Up for 13,693 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
$151.2K $11.04/SF
− Vacancy
−$9.1K −$0.66/SF
EGI
$142.1K $10.38/SF
− OpEx
−$49.7K −$3.63/SF
NOI
$92.4K $6.75/SF
Area
Kalamazoo County, MI
Vacancy
6.00%
Lease Rate
$11.04 /SF/Yr
Expense Ratio
35.00%
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%
$1,847,300
Cap Rate 7%
$1,319,500
Cap Rate 9%
$1,026,278
Alternative Uses
Best Use
Industrial
$2.95M
$2.58M – $3.44M
NOI $206,560 @ 7.0% cap · market cap 18.36%
Second Best
Flex RnD
$1.32M
$1.15M – $1.54M
NOI $92,365 @ 7.0% cap · market cap 8.21%
Theoretical Best
Warehouse
$3.58M
$3.14M – $4.18M
NOI $250,822 @ 7.0% cap · market cap 22.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
27,000 VPD
Traffic count
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
8
Businesses Nearby
Well-served
Demand for This Use
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 Industrial 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?
Flex space - Redevelopment site with 374 feet of frontage and an existing building that can be repurposed with renovations.
Where is this flex space located?
The property is located at 6883 W Main Street Kalamazoo, MI.
What is the asking price?
The asking price for this property is $1,125,000.
What are key features of this property?
This property features: Redevelopment site on West Main near the 9th Street intersection in Oshtemo Township with existing 13,693 SF building for repurposing; 374 ft of frontage on West Main with traffic counts over 27,000 daily; Existing building built in 1989 with composition roof
