238 W. Michigan Ave., Kalamazoo

Office for Sale
Also listed as Retail-Commercial
Catylist Listing ID: 30708831
Property Subtypes: Office Building
Building Size (RSF): 6,805 SF
Gross Building Area: See Agent
Gross Land Area: 0.14 Acres
Sale Price: $1,500,000
Unit Price: $220.43 PSF
In Opportunity Zone? Yes
Property Use Type: Net Leased Investment (NNN), Investment, Vacant/Owner-User, Business
Class of Space: Class B
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/7/2021

Overview / Comments

Two building package in Downtown Kalamazoo available for sale. Building one is a charming two-story, single-tenant office building in Downtown Kalamazoo. This 5,214 SF building is located at 238 W. Michigan offering excellent visibility and prominent exposure to Kalamazoo residents and visitors. The building was recently renovated and offers an efficient layout with appealing features like exposed brick, wood floors and a two-story lobby area. Credit tenant lease in-place for the entire building making this asset a good investment option for a buyer. See agent for more details related to the existing lease. Building two is located next door to Building One and is a successful restaurant measuring approximately 1,591 sf plus a basement. Price includes both buildings and the restaurant FF&E.

Additional Details

Nearest MSA: Kalamazoo-Portage
County: Kalamazoo
Taxing Authority: City of Kalamazoo
Tax ID/APN: 06-15-353-029 & 06-15-354-130
Zoning: CCBD
Property Located Between: Michigan & N. Rose Street
Property Visibility: Excellent
Total Number of Buildings: 2
Number of Stories: 2
Year Built: 1890
Construction/Siding: Wood Frame
Heat Type: Natural Gas
Heat Source: Central
Zoning Description: CCBD
Water Service: Municipal
Sewer Type: Municipal
Legal Description: On file

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 14,828 96,296 157,451
Median Age: 27.52 31.8 33.23
Households: 5,785 38,518 64,521

Contact

Photograph of Listing Agent

Kara Schroer

NAI Wisinski of West Michigan
CARWM Member
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