Industrial Flex-Use Building For
For Sale
$1,999,000
Pending
8608 W Main St, Kalamazoo, MI 49009
26,000 SF industrial flex-use building with excellent accessibility.
Property Size26,000 SF
Lot Size5.00 Acres
Days on Market164
Property Features for 8608 W Main St
General Information
Standard status
Pending
Size
26,000 SF
Lot size
5.00 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$26,879
Building Details
Year Built
2001
Units
2
Listing Agency:
Kalamazoo Commercial Real Estate
(269) 888-2755
Listed By:
Andrew J Gyorkos · License #6502406462
(269) 888-2755
Source:
Elliman
Added: Mar 11
Changed: Aug 14
Last Checked: Aug 20 at 10:30AM
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 Kalamazoo Commercial Real Estate
Investment Insights
Based on property information with market context.
This 26,000 SF industrial flex-use building is located approximately 2.5 miles from US-131, offering excellent accessibility and visibility off West Main/M-43. The building is currently divided into two suites that can be configured to accommodate a wide range of business needs. It features twenty-foot ceilings, three overhead doors, three-phase power, and a large paved parking lot. The property is well equipped for light manufacturing, distribution, or businesses with a retail presence. Zoned COMM, this space provides the flexibility and infrastructure to support a variety of operations in a prime location.
Key Highlights
- Excellent accessibility and visibility off West Main/M‑43, approximately 2.5 miles from US‑131.
- 26,000 SF industrial flex‑use building** suitable for various business needs.
- Zoned COMM, providing flexibility for a variety of operations.
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
$175,381
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
8.77%
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%
$3,507,620
$3.5M
Cap Rate 7%
$2,505,443
$2.5M
Cap Rate 9%
$1,948,678
$1.9M
Market Conditions
NOI Build-Up for 26,000 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
$287.0K $11.04/SF
− Vacancy
−$17.2K −$0.66/SF
EGI
$269.8K $10.38/SF
− OpEx
−$94.4K −$3.63/SF
NOI
$175.4K $6.75/SF
Area
Kalamazoo County, MI
Vacancy
6.00%
Lease Rate
$11.04 /SF/Yr
Expense Ratio
35.00%
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%
$3,507,620
Cap Rate 7%
$2,505,443
Cap Rate 9%
$1,948,678
Alternative Uses
Best Use
Industrial
$5.60M
$4.90M – $6.54M
NOI $392,211 @ 7.0% cap · market cap 19.62%
Second Best
Flex RnD
$2.51M
$2.19M – $2.92M
NOI $175,381 @ 7.0% cap · market cap 8.77%
Theoretical Best
Warehouse
$6.80M
$5.95M – $7.94M
NOI $476,257 @ 7.0% cap · market cap 23.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
39
Businesses Nearby
Well-served
Demand for This Use
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
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - 26,000 SF industrial flex-use building with excellent accessibility.
Where is this flex space located?
The property is located at 8608 W Main St Kalamazoo, MI.
What is the asking price?
The asking price for this property is $1,999,000.
What are key features of this property?
This property features: Excellent accessibility and visibility off West Main/M‑43, approximately 2.5 miles from US‑131.; 26,000 SF industrial flex‑use building** suitable for various business needs.; Zoned COMM, providing flexibility for a variety of operations.
