Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    501 Willard St Kalamazoo, MI 49007

    Sponsored
    For Lease
    $22 SF/Yr

    Modern Office, Ample Parking, Downtown Access

    Lot size:
    129,595 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    407
    This exceptional Class A office space, located at 501 W Willard Street in Kalamazoo, Michigan, offers 2,500 square feet of meticulously renovated space. Completely updated in 2020, the single-tenant building boasts a contemporary open-concept design perfect for a variety of businesses. The layout includes a spacious conference room complete with a coffee bar, a welcoming lobby with a reception desk, five private offices providing ample privacy, and a convenient kitchenette. A unique feature is the private 1,300 square-foot courtyard accessible via a glass overhead door, ideal for outdoor meetings, events, or employee relaxation. The building sits on one acre of land, providing ample on-site parking for employees and clients. Benefit from excellent visibility and signage opportunities at the corner of Westnedge Avenue and Willard Street. The property's address is 501 Willard St, Kalamazoo, MI 49007, with the APN 06-16-434-010. The building, constructed in 1954, totals 129,595 square feet, with this specific suite comprising 2,500 square feet of the total space. This is a single-story building offering a highly desirable location with easy access to downtown Kalamazoo. The property is conveniently located and offers a blend of modern amenities and classic charm.

    Property Features for 501 Willard St

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    129,595 SF
    Class
    A
    Total Rate
    237590.83

    Building Details

    Year Built/Renovated
    1954/2020
    Buildings
    1
    Stories
    1

    Unit(s) available at that property

    Space
    Size
    2,500 SF
    Rate per SF
    $22

    We can help!

    Listing Contact
    Andrew Gyorkos
    Andrew Gyorkos

    Learn more

    Property Profile Location Intelligence

    Current Use by Public Records

    Advanced Business Brokers Business Management Consultant Kalamazoo Commercial Real ... Commercial Real Estate Agency

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Kalamazoo
    County
    Kalamazoo
    State
    Michigan
    Longitude
    -85.5901943
    Latitude
    42.2954006

    Nearby Similar for Lease

    • $17 SF/Yr
      7,865 SF

      Class A Office Suite Available

      Downtown Kalamazoo Class A office suite with private offices.
      151 S Rose St Unit, Kalamazoo, MI 49007
      View Details
    • New
      $10 SF/Yr
      7,100 SF

      Kalamazoo Office Building For Rent

      7100 sq ft Kalamazoo office building, potential for two units.
      458 W South St, Kalamazoo, MI 49007
      View Details
    • $6 SF/Yr
      24,424 SF

      Kalamazoo Light Industrial/Lab Space

      Light industrial building suitable for lab, R&D, storage, or cannabis.
      1206 E Crosstown Pkwy Unit, Kalamazoo, MI 49001
      View Details
    • $4 SF/Yr
      Pending

      Downtown Kalamazoo Office Space Available

      Prime 4,152 SF office space in Kalamazoo's Central Business District.
      107 W Michigan Ave, Kalamazoo, MI 49007
      View Details
    • $23 SF/Yr
      Pending

      Kalamazoo Executive Office Suites

      Executive office suites for lease in downtown Kalamazoo.
      107 W Michigan Ave, Kalamazoo, MI 49007
      View Details
    • $21 SF/Yr
      Pending

      Kalamazoo Executive Office Suites

      Executive office suites for lease in downtown Kalamazoo.
      107 W Michigan Ave Unit, Kalamazoo, MI 49007
      View Details
    • $26 SF/Yr
      Pending

      Kalamazoo Executive Office Suites

      Executive office suites for lease in downtown Kalamazoo.
      107 W Michigan Ave, Kalamazoo, MI 49007
      View Details
    • $15 SF/Yr
      Pending

      Kalamazoo Executive Office Suites

      Executive office suites for lease in downtown Kalamazoo.
      107 W Michigan Ave, Kalamazoo, MI 49007
      View Details
    • $22 SF/Yr
      Pending

      Kalamazoo Executive Office Suites

      Executive office suites for lease in downtown Kalamazoo.
      107 W Michigan Ave, Kalamazoo, MI 49007
      View Details
    • $22 SF/Yr
      Pending

      Kalamazoo Executive Office Suites

      Executive office suites for lease in downtown Kalamazoo.
      107 W Michigan Ave Unit, Kalamazoo, MI 49007
      View Details
    • $24 SF/Yr
      Pending

      Kalamazoo Executive Office Suites

      Executive office suites for lease in downtown Kalamazoo.
      107 W Michigan Ave, Kalamazoo, MI 49007
      View Details
    • $26 SF/Yr
      Pending

      Kalamazoo Executive Office Suites

      Executive office suites for lease in downtown Kalamazoo.
      107 W Michigan Ave, Kalamazoo, MI 49007
      View Details

    FAQs

    What type of property is this?
    Office Property Space - Modern Office, Ample Parking, Downtown Access
    Where is this office property space located?
    The property is located at 501 Willard St Kalamazoo, MI.
    What is the lease rate?
    The lease rate is $22 SF/Yr.
    Request Owner's contact information
    501 Willard St Kalamazoo, MI 49007
    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.
    501 Willard St
    Kalamazoo, MI 49007
    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
    501 Willard St Kalamazoo, MI 49007
    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
    Andrew Gyorkos
    Andrew Gyorkos
    Real Estate License ID: MI
    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.