Property profile

1381 S Drake Rd Kalamazoo, MI 49006

FOR SALE
Commercial real estate
Property ID
US43-2205474
7,480 SF 0.65 ac lot
Entity Owned 7-yr Hold ~ Est. High Equity
Saved · see the list in your Dashboard

Property summary

AI-generated overview

This exceptional 7,735 square foot strip mall, situated on a 0.62-acre lot at 1381 S Drake Road in Kalamazoo, Michigan, presents a compelling investment opportunity. Currently, three units are occupied by established businesses, including a long-term tenant, Hungry Howes, a barber shop, and a photography studio. Four contiguous units are available, offering significant potential for expansion or diversification of the tenant mix. The property boasts high visibility due to its location in a rapidly growing corridor with strong traffic counts and strategically placed stoplights. Its proximity to major retailers like Costco, Walters Auto, and Western University's campus ensures consistent foot traffic and a diverse customer base. The location north of Stadium Drive provides excellent accessibility and exposure. This well-maintained property offers a blend of established tenancy and significant upside potential for a savvy investor seeking a prime retail location in a thriving Kalamazoo market. The asking price is $989,000. This represents a rare chance to acquire a well-positioned commercial property with immediate income generation and substantial future growth prospects. The existing tenants provide a stable income stream, while the vacant units offer the flexibility to tailor the property to your specific investment strategy.

Property profile

Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Total area 7,480 SF
Lot 0.65 ac (28,314 SF)
Zoning code CC
APN 06-19-365-001
UPID US43-2205474

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Clothing & Fashion Store
  • Take-out & Catering
  • Courier Service Postal Service
  • Mobile Phone Store Electronics & Wireless Store
  • Training Center Tutoring Service

Location

1381 S Drake Rd Kalamazoo, MI 49006
Kalamazoo metro Census 1511 KALAMAZOO-PORTAGE, MI METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$654k
Blend (final) Blend
$765k

Owner & transaction history

since 2018
3 recorded transactions
2019
Price N/A
2018
$799,000
2014
Price N/A

Zoning & alternative use

CC · Kalamazoo, MI
Zoning description

CC - Commercial, Community CCBD - Commercial Central Business CBTR - Commercial, Business, Technology and Research 2022-06-15 All commercial zoning district names begin with the letter "C," which is a short-hand referenc…

General category MIXED_USE

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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