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    Kalamazoo Distribution Space For Lease Title is generated by Realmo AI

    8213 Neptune Dr, Kalamazoo, MI 49009

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    20,625 SF distribution space available April 1st, 2025.

    Type:Industrial
    Property size:
    20,625 SF
    Added:
    Jun 10, 2024
    Days on Market:
    725
    Last Refresh:
    May 12 at 10:37 pm

    Property Features for 8213 Neptune Dr

    General Information

    Standard status
    Active
    Size
    20,625 SF
    Property subtype
    Industrial

    Building Details

    Year Built
    2003

    Spaces For Lease

    at 8213 Neptune Dr Contact us

    Suite Build to suit $6/Mo

    Size
    5,000 SF
    Type
    Industrial
    The warehouse space is 18,797 SF and features access to two (2) docks with levelers,...
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    Contact us

    Suite 1 $5/Mo

    Size
    20,625 SF
    Type
    Industrial
    8,250 SF available for lease at 8223 Neptune Drive in Kalamazoo, Michigan. Located...
    show more
    Contact us

    Suite 1 $5/Mo

    Size
    8,750 SF
    Type
    Industrial
    The warehouse space is 18,797 SF and features access to two (2) docks with levelers,...
    show more
    Contact us

    Suite 2 $5/Mo

    Size
    8,125 SF
    Type
    Industrial
    The warehouse space is 18,797 SF and features access to two (2) docks with levelers,...
    show more
    Contact us

    Suite 3 $5/Mo

    Size
    3,750 SF
    Type
    Industrial
    The warehouse space is 18,797 SF and features access to two (2) docks with levelers,...
    show more
    Contact us
    Show more

    We can help!

    Listing Contact
    Trent Wieringa SIOR
    Trent Wieringa SIOR

    Listing agent Trent Wieringa SIOR License #MI 6501377143

    Listing office Advantage Commercial Real Estate

    Listing date Jun 10, 2024

    Source Crexi

    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 Advantage Commercial Real Estate

    HighLights

    • Excellent distribution space with immediate access to Southwest Michigan and Grand Rapids via US‑131.
    • 18,797 SF warehouse space featuring two docks with levelers and one 12’ x 14’ drive‑in door.
    • Includes 1,828 SF office space with conference room, private offices, reception area, kitchen, and break area.
    • Features 17’ clear heights, LED lighting, and 200 amps of power in the warehouse.
    • Ample parking with potential for outside storage.
    • Available for lease April 1st, 2025 in a building built in 2003.

    Overview

    Available for lease starting April 1st, 2025, is a 20,625 square foot distribution space located at 8213 Neptune Drive in Kalamazoo, Michigan. The property is situated directly off US-131, north of Kalamazoo, providing immediate access to Southwest Michigan and the greater Grand Rapids market. The office area comprises 1,828 square feet and includes a conference room, several private offices, a reception area, a kitchen, a break area, and restrooms. The warehouse space measures 18,797 square feet and features two docks with levelers, one 12-foot by 14-foot drive-in door, 200 amps of power, 17-foot clear heights, and LED lighting. A mezzanine is present but is not included in the rentable square footage. The building offers ample parking, and the east portion of the parking lot could be used for outside storage.
    Property Profile Location Intelligence

    Current Use by Public Records

    TGLV Group LLC Business Management Consultant Matrix Bath Systems Renovation Specialist RSVP International, LLC Logistics Company SCP Distributors LLC (Bike/Boat/Book/etc) Store

    Suggested Use

    Restaurant Building Supply Big Box & Wholesale Store Auto Repair Shop Auto Parts Store Kitchen & Bath Showroom Storage Facility Garden Center Grocery & Convenience Store Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Kalamazoo
    County
    Kalamazoo
    State
    Michigan
    Longitude
    -85.653317
    Latitude
    42.378493

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    FAQs

    What type of property is this?
    Distribution center - 20,625 SF distribution space available April 1st, 2025.
    Where is this distribution center located?
    The property is located at 8213 Neptune Dr Kalamazoo, MI.
    What is the lease rate?
    The lease rate is $5 SF/Yr.
    What are key features of this property?
    This property features: Excellent distribution space with immediate access to Southwest Michigan and Grand Rapids via US‑131.; 18,797 SF warehouse space featuring two docks with levelers and one 12’ x 14’ drive‑in door.; Includes 1,828 SF office space with conference room, private offices, reception area, kitchen, and break area.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Trent Wieringa SIOR
    Trent Wieringa SIOR
    Real Estate License ID: MI 6501377143
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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