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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2915 Main St Kalamazoo, MI 49006

    • Commercial real estate
    • 3.00 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-4903398
    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

    • Commercial real estate

    Property Details for 2915 Main St

    Lot size
    3.00 lot acres
    Property type
    Commercial real estate
    APN
    06-17-805-021

    Description

    This exceptional 3-acre commercial and residential land parcel, located at 2915 W. Main St., Kalamazoo, MI 49006 (APN: 06-17-805-021), presents a unique investment opportunity. Priced at $389,000 ($143,000/acre), this property boasts 266 feet of frontage on West Main Street, offering excellent visibility and accessibility. Its strategic location places it near Western Michigan University, providing proximity to a large student population and vibrant community. The property's convenient access to major highways, restaurants, shopping centers, and Kalamazoo's Downtown Entertainment District further enhances its appeal. Zoned RM-2, the property allows for a diverse range of uses, including single-family homes, duplexes, live-work spaces, retail establishments, offices, mixed-use developments, religious institutions, and fitness centers. The sale includes four individual lots

    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
    -85.625808493361
    Latitude
    42.29550450419

    Comparable in this City

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      Kalamazoo Multifamily Investment Opportunity

      Certified rental property near WMU with strong cash flow potential.
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      Updated Condo in 55+ Community

      Updated 2 bed, 1 bath condo in Kalamazoo Twp.
      4887 Weston Ave, Kalamazoo, MI 49006
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    • $770,000
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      Updated Multifamily Near Western Michigan

      Eight-unit apartment building near Western Michigan University and Kalamazoo College.
      130 S Clarendon St, Kalamazoo, MI 49006
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    • $1,500,000
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      Kalamazoo Multifamily Investment Opportunity

      Leased sorority house with income potential in Kalamazoo, Michigan.
      1500 Fraternity Village Dr, Kalamazoo, MI 49006
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    • $194,900
      913 SF

      Updated Condo in 55+ Community

      Updated 2 bed, 1 bath condo in Kalamazoo, Michigan.
      4887 Weston Ave, Kalamazoo, MI 49006
      View Details

    Similar Nearby for Sale

    • $194,900

      Updated Condo in 55+ Community

      Updated 2 bed, 1 bath condo in Kalamazoo Twp.
      4887 Weston Ave, Kalamazoo, MI 49006
      View Details
    • $770,000
      Pending

      Updated Multifamily Near Western Michigan

      Eight-unit apartment building near Western Michigan University and Kalamazoo College.
      130 S Clarendon St, Kalamazoo, MI 49006
      View Details
    • $1,500,000
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      Kalamazoo Multifamily Investment Opportunity

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      1500 Fraternity Village Dr, Kalamazoo, MI 49006
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    • $280,000
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      Kalamazoo Multifamily Property for Sale

      Multifamily property in Kalamazoo, MI, ideal for residential income.
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    • $194,900
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      Updated Condo in 55+ Community

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      Kalamazoo Multifamily Investment Opportunity

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    Similar Nearby for Lease

    • New
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      Retail units available for lease near Western Michigan University.
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    • $1,650 /Mo
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      Turnkey Office/Retail Space Near Universities

      1,191 SF office/retail space near Western Michigan University.
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    • $12 SF/Yr
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      Kalamazoo Retail/Office Space Available

      Remodeled retail/office space with high visibility and ample parking.
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      High-traffic retail space available
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    • Contact for pricing
      13,400 SF

      New Development Strip Center

      New development strip center with drive-thru and outdoor patios.
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    2915 Main St
    Kalamazoo, MI 49006
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    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
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