Entity Owned 
For Lease
1 / 8
$14 SF/Yr
2323 Gull Rd,Unit E, Kalamazoo, MI 49048
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Property summary
AI-generated overview
The property is a single-story, multi-tenanted office complex with more than 11,000 total square feet, located on the east side of Kalamazoo along Gull Road between Ascension Borgess Hospital and a nearby retail corridor. One office suite within the complex provides 2,300 square feet and includes a reception and waiting area, multiple private offices, one or more conference rooms, an open workspace, a large kitchenette and break room, and storage. The building offers parking and both monument and building signage, and is part of an occupied tenant mix including Guardian Finance, MiPEHS, State Farm, Wicks Therapy, and A-1 Physical Therapy.
Property profile
Verified
Property type
Other commercial real estate
Use group
COMMERCIAL (GENERAL)
Total area
11,260 SF
Lot
1.43 ac (62,291 SF)
Zoning code
RM-2
APN
06-11-445-051
UPID
US43-0548275
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
-
Insurance Agency
-
Insurance Agency
-
Charitable Organization Social Service Agency
-
Financial Advisor
-
Physician Hospital
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$838k
Blend (final)
Blend
$415k
Owner & transaction history
since 2023
1 recorded transaction
Zoning & alternative use
RM-2 · Kalamazoo, MI
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
17% off on annual
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Sensitivity value band
Source audit · 6 inputs
PDF export
Analytics Standard · 5 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$415k
Value range
$374k – $457k
±10% around blend
Estimated value / SF
$37 / SF
Confidence
Property data
88
Market benchmarks
100
Comparable evidence
60
$374k
blend $415k
$457k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
11,260 SF
Lot area
1.43 ac
Stories
1
APN
06-11-445-051
Zoning
RM-2
Assessed value
$353,400
Annual tax
$20,440
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Sales approach indication
$838k
Range $298k – $862k
Evidence
6 found
Recent peer sales in this city
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$415k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 51 sales
$51
-28%
Submarket 261 sales
$82
-55%
County 325 sales
$79
-53%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $37/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Not available
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: replacement-cost inputs are not on file.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$353k
Move the market yield to see immediate price impact.
Value / SF
$31
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$22k
$445k
$318k
$247k
$25k
$495k
$353k
$275k
$27k
$544k
$389k
$302k
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Property tax & assessments
Tax year 2019Property tax & assessments
Tax year 2019
Tax billed
$20,440
Tax year 2019
Assessed value
$353,400
Assessed 2023
Previous assessed
$353,400
+0.0% YoY
Effective rate
5.78%
On assessed value
Total market value
$706,800
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Other commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
For Lease
Heating
FORCED AIR
Stories
1
Total area
11,260 SF
Lot
1.43 ac (62,291 SF)
Zoning code
RM-2
APN
06-11-445-051
UPID
US43-0548275
Jurisdiction
KALAMAZOO
Zoning & alternative use
RM-2 · Kalamazoo, MIZoning RM-2 · permitted uses
RM-2 · Kalamazoo, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Building & site characteristics
From public records
Heating
FORCED AIR
Stories
1
Lot
1.43 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
RM-2
Jurisdiction
Kalamazoo, MI
Recorded code
RM-2
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for RM-2 in Kalamazoo, MI.
What opens after registration
Zoning profile
3 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
One complete report on every paid plan · 5 · 30 · 100 reports per month.
Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 5 · 30 · 100 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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