Retail/Industrial-Use Flex
For Sale
$1,999,000
Pending
8608 W Main Street, Kalamazoo, MI 49009
COMMERCIAL - Kalamazoo, MI
Property Size26,000 SF
Lot Size5.00 Acres
Days on Market299
Property Features for 8608 W Main Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Bathrooms
5
Full bathrooms
5
Rooms
Bathroom 1, Bathroom 2, Bathroom 5, Bathroom 4, Bathroom 3
Elementary school district
Kalamazoo
Middle school district
Kalamazoo
High school district
Kalamazoo
Subdivision
Greater Kalamazoo - K
Standard status
Pending
APN
05-16-180-042
Size
26,000 SF
Lot size
5.00 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
On file.
Tax Annual Amount
26880
Legal Description
On file.
Utilities
Utilities
Phone Available
Heating system
Forced Air
Building Details
Year built
2001
Floors in Building
1
Number of units
2
Listing Agency:
Kalamazoo Commercial Real Estate
(269) 888-2755
Listed By:
Andrew J Gyorkos · License #6502406462
(269) 888-2755
Added: Oct 27, 2025
Changed: Aug 4
Last Checked: Aug 21 at 1:06AM
MLS# 25055114
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 26,000 SF commercial building is arranged as two suites that can be configured to support a range of business needs. The space features 20-foot ceilings, three overhead doors, and three-phase power, along with a large paved parking lot. The layout is suited for operations that include a retail storefront component.
The property is located off West Main/M-43, approximately 2.5 miles from US-131, and is positioned for visibility and accessibility.
Per zoning (COMM), the property is not approved for traditional industrial use; any manufacturing or production-oriented business must operate in conjunction with a retail presence.
The property is located off West Main/M-43, approximately 2.5 miles from US-131, and is positioned for visibility and accessibility.
Per zoning (COMM), the property is not approved for traditional industrial use; any manufacturing or production-oriented business must operate in conjunction with a retail presence.
Key Highlights
- 26,000 SF building with 20‑foot ceilings and three overhead doors
- Three‑phase power plus a large paved parking lot
- Two suites in one building, configurable for different business needs
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
$179,306
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
8.97%
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%
$3,586,120
$3.6M
Cap Rate 7%
$2,561,514
$2.6M
Cap Rate 9%
$1,992,289
$2.0M
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
$312.0K $12.00/SF
− Vacancy
−$55.8K −$2.15/SF
EGI
$256.2K $9.85/SF
− OpEx
−$76.8K −$2.96/SF
NOI
$179.3K $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%
$3,586,120
Cap Rate 7%
$2,561,514
Cap Rate 9%
$1,992,289
Alternative Uses
Best Use
Retail
$2.56M
$2.24M – $2.99M
NOI $179,306 @ 7.0% cap · market cap 8.97%
Second Best
—
—
no second resolved use
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
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 Retail 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?
Retail space - A 26,000 SF building with two suites, 20-foot ceilings, and three overhead doors, zoned COMM.
Where is this retail space located?
The property is located at 8608 W Main Street 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: 26,000 SF building with 20‑foot ceilings and three overhead doors; Three‑phase power plus a large paved parking lot; Two suites in one building, configurable for different business needs
