3630 Gull Rd Kalamazoo, MI 49048-1272

Property Details for 3630 Gull Rd

Year built

1795

Lot size

1.04 lot acres

Property size

1,795 SF

Zone code

CC

Property type

Commercial real estate

APN

06-12-214-001

APU

612214001

Description

This exceptional investment opportunity presents a fee-simple ownership of a 2,936 square foot, single-tenant retail building fully occupied by Skymint, a corporate-guaranteed tenant, at 3630 Gull Rd, Kalamazoo, MI 49048. The property sits on a 1.04-acre lot at a signalized intersection with high daily traffic counts exceeding 29,800 vehicles. The absolute NNN lease commenced January 1, 2021, and extends to December 31, 2035, with two 5-year renewal options. The lease includes attractive 3% annual rent bumps, ensuring consistent income growth and inflation protection. The property boasts a strong 9.50% cap rate and a substantial net operating income (NOI) of $281,161. The strategic location within a densely populated residential area, near major retailers, Ascension Borgess Hospital, and downtown Kalamazoo, provides a built-in customer base. Furthermore, the proximity to three higher education institutions (Western Michigan University, Kalamazoo College, and Kalamazoo Valley Community College) with a combined enrollment exceeding 25,500 students contributes to significant foot traffic and consumer demand. This investment offers a passive income stream with zero management responsibilities, backed by a thriving cannabis market in Michigan, the second largest in the US. The surrounding area includes numerous national and local retailers, further enhancing the property's desirability and potential for long-term growth. The property's strong demographics, with over 38,500 people within a 3-mile radius and an average household income exceeding $79,735, solidify its investment appeal.