246 Kilgore RdPortage, MI 49002

Property Details for 246 Kilgore Rd

Lot size

1.48 AC

Property type

Office properties

Property subtype

Other office properties

APN

10-00003-030-C

APU

1000003030C

Description

This exceptional 9,832-square-foot single-story office building is ideally situated in Portage, Michigan, at 246 E Kilgore Rd, and presents a fantastic investment opportunity. Built in 1980 and renovated in 2007, the property boasts a desirable location with convenient access to Westnedge amenities, I-94, and the Kalamazoo-Battle Creek International Airport. The building sits on a 1.48-acre lot (APN: 06-12-305-431) and offers ample parking, exceeding 40 spaces—a 4:1,000 sq ft ratio. The property is zoned OS-1 and features prominent monument signage on Kilgore Road, ensuring high visibility. The well-maintained building is currently move-in ready and presents a potential for subdivision into two units. There's also excess land south of the building, allowing for potential expansion of the parking lot or the addition of a smaller structure. Enjoy the proximity to the Portage Bi-Centennial Trail for recreational opportunities. The asking price is $975,000, translating to $99.17 per square foot. This represents a compelling opportunity for a business seeking a well-located, functional, and expandable office space.

• CAP approach

  CAP return

  Valuation

  6%

  $12,125,394

  6.5%

  $11,192,671

  7%

  $10,393,195

• Comparable approach

  Method

  Valuation

  Relative Method

  $8,397,087

  Geo Method

  $8,397,087

• Alternative Use

  Use

  Valuation

  Residential

  $13,878,913

  Hospitality

  $12,713,009

  Educational

  $10,577,074

  Medical

  $10,940,836

  Retail

  $16,453,227

Location Insight

City

Portage

County

Kalamazoo

State

Michigan

Latitude

42.2441

Longitude

-85.5782

CBSA code

28020

CBSA name

KALAMAZOO-PORTAGE, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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