Updated Three-Unit
For Sale
$309,000
Pending
755 Portage Street, Kalamazoo, MI 49001
Commercial Sale, Kalamazoo, MI
Property Size4,000 SF
Lot Size0.10 Acres
Days on Market140
Property Features for 755 Portage Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
2
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Basement, Bathroom 2, Bathroom 1
Parking
6
Interior features
Broadband
Elementary school district
Kalamazoo
Middle school district
Kalamazoo
High school district
Kalamazoo
Directions
Located at N. E. corner of Portage and Vine
Standard status
Pending
APN
06-22-276-022
Size
4,000 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Lot 22 of Millard addition
Tax Annual Amount
2821
Legal Description
Lot 22 of Millard addition
Utilities
Utilities
Cable Available
Heating system
Forced Air
Building Details
Year built
1954
Number of units
3
Building materials
Vinyl Siding
Roof type
Rubber, Composition
Listing Agency:
Keller Williams GR East · Keller Williams Realty
(616) 575-1800
Listed By:
Darryl A Matthews Jr · License #6506047703
(616) 881-9047
Added: May 20
Changed: Sep 12
Last Checked: Oct 6 at 6:06PM
MLS# 26023682
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 three-unit residential property includes an 800-square-foot front apartment, a 2,000-square-foot rear unit, and a third income-producing unit. The building dates to 1954 and features vinyl siding, forced-air heating, a basement, three bathrooms, and broadband access. Recent improvements include a new HVAC system, a new water heater, and 3-inch spray foam insulation.
The 0.1-acre property includes off-street parking and two additional lots. Electric and gas are separately metered for the downstairs unit, with separate water metering as well. The seller pays water, sewer, and garbage, while cable service is available. Located in Kalamazoo, the property offers a three-unit configuration with additional land included in the sale.
The 0.1-acre property includes off-street parking and two additional lots. Electric and gas are separately metered for the downstairs unit, with separate water metering as well. The seller pays water, sewer, and garbage, while cable service is available. Located in Kalamazoo, the property offers a three-unit configuration with additional land included in the sale.
Key Highlights
- Three‑unit property with an 800‑square‑foot front apartment, a 2,000‑square‑foot rear unit, and an additional income‑producing unit
- Two additional lots included with the sale
- New HVAC system and water heater
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,524
Cap Rate
7.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$470,480
$470.5K
Cap Rate 7%
$336,057
$336.1K
Cap Rate 9%
$261,378
$261.4K
Market Conditions
NOI Build-Up for 4,000 SF
Gross rent
$36.0K $9.00/SF
− Vacancy
−$2.4K −$0.60/SF
EGI
$33.6K $8.40/SF
− OpEx
−$10.1K −$2.52/SF
NOI
$23.5K $5.88/SF
Area
Kalamazoo County, MI
Vacancy
6.65%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$470,480
Cap Rate 7%
$336,057
Cap Rate 9%
$261,378
Alternative Uses
Best Use
Multifamily LT 5
$336.1K
$294.1K – $392.1K
NOI $23,524 @ 7.0% cap · market cap 7.61%
Second Best
Apartment 5plus
$308.7K
$270.1K – $360.1K
NOI $21,606 @ 7.0% cap · market cap 6.99%
Theoretical Best
Warehouse
$1.05M
$915.9K – $1.22M
NOI $73,270 @ 7.0% cap · market cap 23.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,948
Businesses Nearby
Explore this area
Business Placement
Demographics for 49001, MI
21,730
Population
9,670
Households
2.2
Avg Household Size
34
Median Age
30%
College-Educated
89%
High-School Grad
7.7 sq mi
ZIP Area
2,822
Density / Sq Mi
$52,327
Median Household Income
$35,447
Median Earnings
$1,055
Median Rent
$139,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Triplex - Triplex with off-street parking, separate metering, and recent mechanical and insulation improvements.
Where is this triplex located?
The property is located at 755 Portage Street Kalamazoo, MI.
What is the asking price?
The asking price for this property is $309,000.
What are key features of this property?
This property features: Three‑unit property with an 800‑square‑foot front apartment, a 2,000‑square‑foot rear unit, and an additional income‑producing unit; Two additional lots included with the sale; New HVAC system and water heater
