Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • 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
    Property profile & analytics

    1903 Michigan Ave Kalamazoo, MI 49008-5200

    • Commercial real estate
    • 384.27 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-2478281
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • WMU Buster's / (Bike/Boat/Book/etc) Store
    • Wiser Leah L / University
    • Leah Wiser, PA / University
    • United Campus Ministry / University
    • Blindness & Low Vision Studies / University

    Property Details for 1903 Michigan Ave

    Lot size
    384.27 lot acres
    Zone code
    CN-1
    Property type
    Commercial real estate
    APN
    06-20-281-001
    APU
    620281001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Kalamazoo
    County
    Kalamazoo
    State
    Michigan
    Longitude
    -85.6156
    Latitude
    42.284
    CBSA code
    28020
    CBSA name
    KALAMAZOO-PORTAGE, MI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $0.00
    $0.00
    $0.00
    $0.00
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request

      1201 Oliver St, Unit BLL

      COMMERCIAL (GENERAL)
      1201 Oliver St, Kalamazoo, MI 49008-3804
      View Details
    • Value Estimation by Request
      3,775 SF

      2131 Hudson Ave

      COMMERCIAL (GENERAL) • 3,775 SF
      2131 Hudson Ave, Kalamazoo, MI 49008-2302
      View Details
    • Value Estimation
      $3,575,000
      86,980 SF

      4620 Stadium Dr

      COMMERCIAL (GENERAL) • 86,980 SF
      4620 Stadium Dr, Kalamazoo, MI 49008-1438
      View Details
    • Value Estimation by Request
      2,176 SF

      1116 Westnedge Ave

      COMMERCIAL (GENERAL) • 2,176 SF
      1116 Westnedge Ave, Kalamazoo, MI 49008-1350
      View Details
    • Value Estimation by Request
      2,377 SF

      1919 Stearns Ave

      COMMERCIAL (GENERAL) • 2,377 SF
      1919 Stearns Ave, Kalamazoo, MI 49008-1855
      View Details
    • Value Estimation by Request

      730 Maple St

      COMMERCIAL (GENERAL)
      730 Maple St, Kalamazoo, MI 49008
      View Details

    Similar Nearby for Sale

    • $499,999
      0.14 Acres

      Mixed-Use Property in Vine Neighborhood

      Mixed-use property with residential and commercial units in Kalamazoo, MI.
      824 S Westnedge Ave, Kalamazoo, MI 49008
      View Details
    • $49,900
      0.33 Acres

      Residential Land in Kalamazoo, MI

      Residential land available for building a custom home.
      1936 W Kilgore Rd, Kalamazoo, MI 49008
      View Details
    • New
      $153,000
      0.12 Acres

      Kalamazoo Multi-Unit Apartment Building

      Three-unit apartment building in Kalamazoo's Vine Neighborhood.
      617 Forest St, Kalamazoo, MI 49008
      View Details
    • $44,000
      Pending

      Residential Land in Kalamazoo, MI

      Buildable lot with mature trees, suitable for a smaller home.
      1122 Parker Ave, Kalamazoo, MI 49008
      View Details
    • Contact for pricing
      0.12 Acres

      Commercial Lot on Westnedge Avenue

      Vacant commercial lot on high-traffic Westnedge Avenue in Kalamazoo.
      1817 S Westnedge Ave, Kalamazoo, MI 49008
      View Details
    • Contact for pricing
      0.17 Acres

      Commercial Lot on Westnedge Avenue

      Vacant commercial lot on high-traffic Westnedge Avenue in Kalamazoo.
      1813 S Westnedge Ave, Kalamazoo, MI 49008
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,000 SF

      Prime Kalamazoo Office Space

      1,500 SF Office, Updated, Great Location
      3621 Stadium Dr, Kalamazoo, MI 49008
      View Details
    • $16 SF/Yr
      21,543 SF

      Kalamazoo Retail Space Available

      Stadium Drive Retail & Restaurant Opportunity
      4210 Stadium Dr, Kalamazoo, MI 49008
      View Details
    • $21 SF/Yr
      11,824 SF

      3110 Oakland Drive, Kalamazoo Office Space

      New construction, prime Kalamazoo location, multiple suites available.
      3110 Oakland Dr, Kalamazoo, MI 49008
      View Details
    • Contact for pricing
      833 SF

      Kensington Place Condo For Rent

      Two-bedroom, one-bath condo in Kensington Place with community amenities.
      734 W Kilgore Rd, Kalamazoo, MI 49008
      View Details
    • $18 SF/Yr
      1,100 SF

      Renovated Office Suite on Westnedge

      Newly renovated 1,100 SF office suite for rent.
      3408 S Westnedge Ave, Kalamazoo, MI 49008
      View Details
    • $19 SF/Yr
      46,393 SF

      Stadium Shoppes Retail Space

      Kalamazoo retail space, multiple tenants.
      3300 Stadium Dr, Kalamazoo, MI 49008
      View Details
    Request Owner's contact information
    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.
    1903 Michigan Ave
    Kalamazoo, MI 49008-5200
    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
    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

    Google sign-in failed. Please try again or use another login method.