Freestanding Office
For Sale
$199,900
8312 Portage Road, Portage, MI 49002
Commercial Sale, Portage, MI
Property Size960 SF
Lot Size0.36 Acres
Price / SF$208.23
Days on Market92
Property Features for 8312 Portage Road
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
B-3, Gen Bus
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Parking
8
Interior features
Broadband
Elementary school district
Portage
Middle school district
Portage
High school district
Portage
Standard status
Active
APN
391000340136O
Size
960 SF
Lot size
0.36 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
AMES WEST LAKE PARK LOT 136
Tax Annual Amount
3763
Legal Description
AMES WEST LAKE PARK LOT 136
Utilities
Utilities
Cable Available
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1945
Floors in Building
1
Number of units
1
Building materials
Vinyl Siding
Roof type
Composition
Listing Agency:
RE/MAX Advantage · RE/MAX International
(269) 323-3900
Listed By:
Pamella M Knapp · License #6501304748
(269) 488-6561
Added: Jun 10
Changed: Sep 7
Last Checked: Sep 9 at 7:06PM
MLS# 26028435
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 960-square-foot office building on 0.36 acres offers a compact layout for an owner-user or small commercial operation. The interior includes a reception area, 2 private offices, a kitchenette, and a bathroom, with room to configure a potential third office. Vinyl siding, forced-air heating, central air, broadband, cable availability, and a composition roof are among the recorded property features. Built in 1945, the building provides a straightforward existing office setup with additional room for expansion.
The property fronts Portage Road with 60 ft of frontage and includes 8 dedicated parking spaces. An electronic-display sign and pylon sign provide established on-site identification. Located in South Portage between E. Centre and Zylman, the property is near West & Austin Lake and neighboring businesses including Presidential Brewing, Blue Kitchella, Erbellis Pizza, and Crystal Carwash. B-3, General Business zoning applies.
The property fronts Portage Road with 60 ft of frontage and includes 8 dedicated parking spaces. An electronic-display sign and pylon sign provide established on-site identification. Located in South Portage between E. Centre and Zylman, the property is near West & Austin Lake and neighboring businesses including Presidential Brewing, Blue Kitchella, Erbellis Pizza, and Crystal Carwash. B-3, General Business zoning applies.
Key Highlights
- 960 square feet on 0.36 acres
- 60 ft of frontage on Portage Road
- 8 dedicated parking spaces
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
$9,622
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
4.81%
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%
$192,440
$192.4K
Cap Rate 7%
$137,457
$137.5K
Cap Rate 9%
$106,911
$106.9K
Market Conditions
NOI Build-Up for 960 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
$13.8K $14.40/SF
− Vacancy
−$995 −$1.04/SF
EGI
$12.8K $13.36/SF
− OpEx
−$3.2K −$3.34/SF
NOI
$9.6K $10.02/SF
Area
Kalamazoo County, MI
Vacancy
7.20%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
25.00%
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%
$192,440
Cap Rate 7%
$137,457
Cap Rate 9%
$106,911
Alternative Uses
Best Use
Office B
$137.5K
$120.3K – $160.4K
NOI $9,622 @ 7.0% cap · market cap 4.81%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$251.2K
$219.8K – $293.1K
NOI $17,585 @ 7.0% cap · market cap 8.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
211
Businesses Nearby
Explore this area
Business Placement
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - B-3 zoning, dedicated parking, and road exposure support a practical general-business setting.
Where is this office units located?
The property is located at 8312 Portage Road Portage, MI.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: 960 square feet on 0.36 acres; 60 ft of frontage on Portage Road; 8 dedicated parking spaces
