Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search

    717 S Drake Rd, Unit unit Pcl 3 Kalamazoo, MI 49006

    Sponsored
    Picture of Commercial land at S Drake Rd 717, Kalamazoo, MI
    For Sale
    $700,000

    COMMERCIAL - Kalamazoo, MI

    Lot size:
    1.14 Acres
    Days on Market:
    22
    Last Refresh:
    Jan 19 at 8:06 pm

    Property Features for 717 S Drake Rd

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    390619110001
    Lot size
    1.14 Acres

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Water source
    Public

    We can help!

    Listing Contact
    Jodi Milks

    NAI Wisinski of West Michigan (269) 353-0311

    Listing agent Jodi K Milks (269) 459-0439

    Listing date Dec 29, 2025

    MLS# 13028098 Listing URL

    Copyright © 2025 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.

    Learn more

    Property Insight Report

    Overview

    Kalamazoo Commercial Development Opportunity

    This commercial land offers an office or retail development opportunity on Kalamazoo's west side. The available parcels range from 0.64 to 2.56 acres and are located at the lighted intersection of Drake Road and Arboretum Parkway. The site is positioned just south of the West Main retail corridor and west of the WMU campus, adjacent to Linden Grove Middle School and Walden Woods condominiums. Join Mercantile Bank, Sprout Early Care & Preschool and the Parkway Flats 241-unit apartment complex in this development.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Kalamazoo
    County
    Kalamazoo
    State
    Michigan
    Longitude
    -85.647442
    Latitude
    42.286595

    Nearby Similar for Sale

    • $675,000
      7,000 SF

      Historic Restaurant with Pullman Railroad Car

      Iconic 1910 Pullman railroad car restaurant on 2.23 acres.
      6225 W D Ave, Kalamazoo, MI 49009
      View Details
    • New
      $359,900
      0.12 Acres

      Kalamazoo Multi-Unit Investment Opportunity

      Multi-unit property near WMU and downtown Kalamazoo. Great investment.
      706 Locust St, Kalamazoo, MI 49007
      View Details
    • $350,000
      Pending

      Kalamazoo Duplex with Recent Updates

      Investment opportunity: updated duplex with potential for additional living space.
      6105 Fairgrove St, Kalamazoo, MI 49009
      View Details
    • $500,000
      0.25 Acres

      Kalamazoo Multifamily Investment Opportunity

      Well-maintained 8-unit building in Kalamazoo's Vine neighborhood with strong rental history.
      521 Pearl St, Kalamazoo, MI 49007
      View Details
    • $935,000
      Pending

      Kalamazoo Office-to-Residential Conversion Opportunity

      Office building suitable for residential conversion near WMU Med School.
      126 W South St, Kalamazoo, MI 49007
      View Details
    • $369,900
      0.30 Acres

      Kalamazoo Multi-Unit Building For Sale

      Five-unit building in Vine Neighborhood with parking and garage.
      529 Wheaton Ave, Kalamazoo, MI 49008
      View Details
    • $329,900
      Pending

      Kalamazoo Triplex in Stuart Neighborhood

      Well-maintained triplex near WMU, K-College, and downtown Kalamazoo.
      127 Elm St, Kalamazoo, MI 49007
      View Details
    • $309,900
      Pending

      Renovated Historic Kalamazoo Apartment Building

      Rare, renovated 5-unit apartment building near Western Michigan University.
      727 S Park St, Kalamazoo, MI 49007
      View Details
    • $285,000
      Pending

      Kalamazoo Duplex Near Gull Road

      Kalamazoo Township duplex with oversized garage and large backyard.
      3226 Nazareth Rd, Kalamazoo, MI 49048
      View Details
    • $550,000
      4,879 SF

      Stadium Drive Commercial Office Suites

      High-visibility office suites on Stadium Drive near US-131.
      6281 Stadium Dr, Kalamazoo, MI 49009
      View Details
    • $1,500,000
      8,772 SF

      Kalamazoo Multifamily Investment Opportunity

      Leased sorority house with income potential in Kalamazoo, Michigan.
      1500 Fraternity Village Dr, Kalamazoo, MI 49006
      View Details
    • $265,000
      0.20 Acres

      Kalamazoo Duplex Investment Opportunity

      Well-maintained duplex in prime location with month-to-month leases.
      1727-1729 Sunnyside Dr, Kalamazoo, MI 49048
      View Details

    FAQs

    What type of property is this?
    Commercial land - Commercial land for office or retail development in Kalamazoo, MI.
    Where is this commercial land located?
    The property is located at 717 S Drake Rd, Unit unit Pcl 3 Kalamazoo, MI.
    What is the asking price?
    The asking price for this property is $700,000.
    What are key features of this property?
    This property features: - High-traffic location at a lighted intersection on Drake Road and Arboretum Parkway.; - Development opportunity adjacent to Mercantile Bank, Sprout Early Care & Preschool, and Parkway Flats (241-unit apartment complex).; - Parcels range from 0.64 - 2.56 acres, providing flexible development options.
    (269) 459-0439
    Request Owner's contact information
    717 S Drake Rd, Unit unit Pcl 3 Kalamazoo, MI 49006
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    717 S Drake Rd, Unit unit Pcl 3
    Kalamazoo, MI 49006
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    717 S Drake Rd, Unit unit Pcl 3 Kalamazoo, MI 49006
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Jodi Milks
    (269) 459-0439
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.