1381 S Drake Rd Kalamazoo, MI 49006
For Lease
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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.
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GoGirl Fashion Company Clothing & Fashion Store
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Hungry Howie's Pizza Take-out & Catering
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UPS Access Point location Courier Service Postal Service
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Boost Mobile Mobile Phone Store Electronics & Wireless Store
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Let's Play Kzoo, LLC Training Center Tutoring Service
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 reference to "commercial." Subsequent letters of the commercial district map symbols are abbreviations indicating the general character of the distr…
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2019Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
CC · Kalamazoo, MICC - 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 reference to "commercial." Subsequent letters of the commercial district map symbols are abbreviations indicating the general character of the district or simply abbreviations of the full district name. Numbers, where used, are intended to identify the relative intensity of similar districts. Thus, the CN-1 district name is intended to denote a commercial zoning district, with a neighborhood-oriented or neighborhood-serving character that is less intensive than its CN-2 counterpart. A. CMU, Commercial Mixed Use. 1. Description and Purpose. The CMU, Commercial Mixed Use district is intended to accommodate a variety of styles and densities of commercial land uses, as well as duplex and multifamily units and public and civic uses. This district is intended to be used in areas where the predominant character of development is nonresidential, but separation of residential and nonresidential uses is not necessary, and the intention is for a broader mix of residential and nonresidential uses in the future. The CMU district will generally be used in conjunction with an overlay district specifying in more detail the intended scale, density, and style of permitted development. 2. Allowed Uses. See § 4.1 : Use Table, for a list of uses allowed in the CMU district. 3. Density/Intensity/Dimensional Standards. See § 5.2 : Commercial and Manufacturing District Standards, for the Density, Intensity and Dimensional standards that apply in the CMU district. 4. Development Standards. All development in the CNO district that includes neighborhood commercial uses shall comply with those design standards in § 6.5A: Neighborhood Commercial, and all development in the CNO district shall comply with all other applicable requirements of Chapter 6: Development Standards. B. CNO, Commercial Neighborhood Office District. 1. Description and Purpose. The CNO, Commercial Neighborhood Office district is primarily intended to accommodate low-intensity administrative and professional offices that are compatible with the character of residential neighborhoods. The district is also intended to be used as a transition district between higher intensity commercial areas and residential neighborhoods. The district allows administrative and professional office uses in structures that formerly housed residential dwelling units.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
