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317 S Drake Rd Kalamazoo, MI 49009

$4,454,000

For Sale

Details

  • StatusFor Sale
  • Price$4,454,000
  • Cap Rate8.75%
  • Term Remaining3.6 Years
  • Lease TypeModified Gross
  • Building Size20,410 SF
  • Lot Size1.80 Acres
  • NOI$389,944

Property Description

Prime Investment Opportunity: Multi-Tenant Government Leased Office in Kalamazoo, MI

Discover a unique investment opportunity with the multi-tenant government leased office located at 317 S Drake Rd, Kalamazoo, MI. This property is ideal for investors seeking stable, long-term returns backed by reliable tenants, including the Social Security Administration (SSA) and other medical tenants.

Stable and Secure Investment

The property features a 20,410 square foot building with 14,250 square feet retrofitted specifically for the SSA in 2006. The SSA has a 10-year lease with approximately 3.6 years remaining, providing stability and security. Additionally, the Michigan Reproductive and IVF Center recently extended their lease for an additional 5 years, demonstrating their strong commitment to the location. The property generates a net operating income (NOI) of $389,944, offering an 8.75 percent cap rate.

Strategic Location and Demographics

Kalamazoo is centrally located in southwestern Michigan, easily accessible via I-94 and US-131. The city anchors the Kalamazoo-Portage Metropolitan Statistical Area, boasting a population of over 260,000. Kalamazoo’s economy is diversified, encompassing healthcare, education, and advanced manufacturing sectors. Major employers in the area include Stryker Corporation, Baxter International, and Haworth Inc., providing a robust economic environment for tenants.

Essential Service Providers

The Social Security Administration and Michigan Reproductive and IVF Center provide essential services to the community. The SSA administers vital social insurance programs, ensuring the property’s long-term viability and importance within the region. The Michigan Reproductive and IVF Center’s recent lease renewal underscores the demand for their specialized medical services in the area.

Investment Highlights

  • Leases guaranteed by the U.S. Government
  • Long-term leases with minimal landlord responsibilities
  • Located in a growing regional hub with strong demographics
  • Essential service providers ensuring tenant stability
  • Ideal for investors seeking secure and stable returns

Conclusion

This investment opportunity in Kalamazoo, MI, offers secure and profitable returns with reliable government and medical tenants. Contact us today to learn more about this exceptional property and secure your investment.

Contact

Portrait of Sam Valenti

Sam Valenti

Net Lease Investment Advisor

DRE 02210185

(727) 774-4144

Portrait of Kaveh Ebrahimi

Kaveh Ebrahimi

Managing Partner

DRE 1896322

(805) 889-7837

Portrait of Jason Gribin

Jason Gribin

Managing Partner

DRE 1819611

(310) 867-9311

Request more information.