Four-Unit Duplex
For Sale
$625,000
8161 Stadium Dr, Kalamazoo, MI 49009
Two duplex buildings on separate parcels offer attached garages, individual utility metering, and a shared driveway.
Property Size4,800 SF
Price / SF$130.21
Days on Market12
Property Features for 8161 Stadium Dr
General Information
Standard status
Active
Size
4,800 SF
Property subtype
Multi-Family
Building Details
Year Built
2003
Listing Agency:
recreyate
Listed By:
David T Molnar
Source:
Findmichiganhomelistings
Added: Sep 15
Changed: Sep 18
Last Checked: Sep 24 at 11:26AM
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 recreyate
Investment Insights
Based on property information with market context.
This four-unit residential income property consists of two duplex buildings on separate legal parcels, offered together. Built in 2003, the buildings contain four three-bedroom units, with one-bedroom and two-bedroom bath configurations. Unit sizes are approximately 1,050 SF and 1,500 SF. Each unit includes an attached one-car garage. One 1,500 SF unit has been freshly renovated with an additional living room and den/office in the basement, while another unit is undergoing renovation. The property includes separately metered gas and electric service, with landlord-paid trash and city water/sewer. The duplexes share a driveway and are positioned on more than 2.5 acres along Stadium Drive, just west of 6th Street in Oshtemo Township. The East building is identified as 8161/8163 Stadium Drive, and the West building as 8171/8173 Stadium Drive. Offers will be considered only for both parcels together.
Key Highlights
- Four 3BR units across two duplex buildings
- More than 2.5 acres on two separate legal parcels
- Each unit includes an attached 1‑car garage
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
$28,229
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
4.52%
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%
$564,580
$564.6K
Cap Rate 7%
$403,271
$403.3K
Cap Rate 9%
$313,656
$313.7K
Market Conditions
NOI Build-Up for 4,800 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
$43.2K $9.00/SF
− Vacancy
−$2.9K −$0.60/SF
EGI
$40.3K $8.40/SF
− OpEx
−$12.1K −$2.52/SF
NOI
$28.2K $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 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%
$564,580
Cap Rate 7%
$403,271
Cap Rate 9%
$313,656
Alternative Uses
Best Use
Multifamily LT 5
$403.3K
$352.9K – $470.5K
NOI $28,229 @ 7.0% cap · market cap 4.52%
Second Best
Apartment 5plus
$370.4K
$324.1K – $432.1K
NOI $25,927 @ 7.0% cap · market cap 4.15%
Theoretical Best
Warehouse
$1.26M
$1.10M – $1.47M
NOI $87,924 @ 7.0% cap · market cap 14.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
47
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
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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?
Duplex - Two duplex buildings on separate parcels offer attached garages, individual utility metering, and a shared driveway.
Where is this duplex located?
The property is located at 8161 Stadium Dr Kalamazoo, MI.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Four 3BR units across two duplex buildings; More than 2.5 acres on two separate legal parcels; Each unit includes an attached 1‑car garage
