Kalamazoo Approx 4000 SF

Office for Sale
Catylist Listing ID: 30444913
Property Subtypes: Office Building
Building Size (RSF): 4,068 SF
Gross Land Area: 1.90 Acres
Sale Price: $228,000
Unit Price: $56.05 PSF
Property Use Type: Investment
Building Name: KLM Building
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 8/22/2019

Overview / Comments

Located on on W Main between US 131 and downtown Kalamazoo, just east of Nichols Rd and Kendall Ave. Attractive 1.9 acre site, park like setting, ample paved parking. Multi-level building occupied by travel agency and two construction contractor offices. Two restrooms, two forced air gas furnaces, two central air conditioning units.
Reported average daily traffic volume 26,100.
The neighborhood consists or locally owned and national franchise retail, restaurants and professional offices as well as high demand residential.
Western Michigan University campus, various condo and apartment complexes within two miles. Value add opportunity, rents currently below market. Contact broker for details.
Buyer to verify dimensions/sq footage. City sewer available.

Financials

Finance Data Year 2019
Real Estate Taxes - Annual($) $7,422 (Annual)
Assessed Value - Total($) $117,000 (Annual)

Additional Details

Nearest MSA: Kalamazoo-Portage
County: Kalamazoo
Taxing Authority: Kalamazoo Township
Tax ID/APN: 390617165021
Zoning: RM-2
Property Located Between: Kendall and Lauderdale
Property Visibility: Good
Highway Access: Approx 3 miles to US 131.
Site Description: 1.9 acres, approx 220 ft frontage, rolling, slightly wooded.
Area Description: Westwood neighborhood, office, light commercial and residential. Main east-west corridor through downtown Kalamazoo. W Main is also know as M-43.
Total Number of Buildings: 1
Number of Stories: 4
Year Built: 1954
Construction/Siding: Brick, Wood Siding
Exterior Description: Wood and brick.
Parking Type: Surface
Total Parking Spaces: 14
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Package Unit
Zoning Description: RM-2 Multiple Family/Mixed Use District
Lot Frontage: Approx 220
Lot Depth: Approx 375 average
Water Service: Municipal
Sewer Type: Septic
Legal Description: Assessor's Plat of Van Peenens Plat Lots 2-3 exc W 25 ft of Lot 3 & exc SLY 12 ft.

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 20,258 77,000 141,131
Median Age: 27.74 30.48 33
Households: 7,739 31,764 57,586

Contact

Photograph of Listing Agent

Nancy M. Fish CCIM

Park Place Real Estate CPIX Member
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