Versatile Retail Building with
For Sale
$349,000
Pending
8139 Portage Road, Portage, MI 49002
COMMERCIAL - Portage, MI
Property Size3,468 SF
Lot Size3.85 Acres
Days on Market95
Property Features for 8139 Portage Road
General Information
Property type
Commercial Sale
Property subtype
Retail
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Interior features
Broadband
Elementary school district
Portage
Middle school district
Portage
High school district
Portage
Standard status
Pending
APN
10-00023-080-A
Size
3,468 SF
Lot size
3.85 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
On file.
Tax Annual Amount
7526
Legal Description
On file.
Utilities
Utilities
Cable Available
Heating system
Forced Air
Building Details
Year built
1935
Floors in Building
1
Number of units
1
Listing Agency:
Kalamazoo Commercial Real Estate
(269) 888-2755
Listed By:
Andrew J Gyorkos · License #6502406462
(269) 888-2755
Added: May 19
Changed: Aug 4
Last Checked: Aug 21 at 1:06AM
MLS# 26023335
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 versatile retail property features a main retail area of 2,508 SF with a classroom, an office space, and two restrooms. Behind the main building, there is a 960 SF workshop/garage equipped with two overhead doors. The property sits on 3.85 acres, with 9,000 SF of surrounding parking to support customer and operational needs.
Located at 8139 Portage Road in Portage, the site benefits from placement on a major retail corridor, supporting a range of retail and service concepts that can utilize both the front-of-house space and the back workshop area.
Located at 8139 Portage Road in Portage, the site benefits from placement on a major retail corridor, supporting a range of retail and service concepts that can utilize both the front-of-house space and the back workshop area.
Key Highlights
- Retail property in Portage on a major retail corridor on 3.85 acres of land
- Main retail area offers 2,508 SF with a classroom, office space, and two restrooms
- Includes a 960 SF workshop/garage behind the main building with two overhead doors
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
$23,917
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
6.85%
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%
$478,340
$478.3K
Cap Rate 7%
$341,671
$341.7K
Cap Rate 9%
$265,744
$265.7K
Market Conditions
NOI Build-Up for 3,468 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
$41.6K $12.00/SF
− Vacancy
−$7.4K −$2.15/SF
EGI
$34.2K $9.85/SF
− OpEx
−$10.3K −$2.96/SF
NOI
$23.9K $6.90/SF
Area
Kalamazoo County, MI
Vacancy
17.90%
Lease Rate
$12.00 /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%
$478,340
Cap Rate 7%
$341,671
Cap Rate 9%
$265,744
Alternative Uses
Best Use
Retail
$341.7K
$299.0K – $398.6K
NOI $23,917 @ 7.0% cap · market cap 6.85%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$907.5K
$794.1K – $1.06M
NOI $63,525 @ 7.0% cap · market cap 18.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Drive-in doors
Location Intelligence
Trade Area within ½ mile
214
Businesses Nearby
20k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Speedway
Shops & Services
20,003 visits/mo
0.3 miles
Demographics for 49002, MI
19,553
Population
8,975
Households
2.2
Avg Household Size
41
Median Age
43%
College-Educated
96%
High-School Grad
17.3 sq mi
ZIP Area
1,130
Density / Sq Mi
$71,621
Median Household Income
$45,938
Median Earnings
$910
Median Rent
$223,000
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Polderman's Florist & Garden — 8710 Portage Rd, Portage, MI 49002
- Polderman's Flower Shop — 8710 portage rd, portage, mi 49002
Frequently Asked Questions
What type of property is this?
Storefront property - Main retail area includes a classroom, office, and two restrooms, with a 960 SF workshop behind.
Where is this storefront property located?
The property is located at 8139 Portage Road Portage, MI.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: Retail property in Portage on a major retail corridor on 3.85 acres of land; Main retail area offers 2,508 SF with a classroom, office space, and two restrooms; Includes a 960 SF workshop/garage behind the main building with two overhead doors
