308 Drake RdKalamazoo, MI 49006

Property Details for 308 Drake Rd

Lot size

1.16 AC

Property size (Sq ft)

12,249 SF

Zone code

CN-1

Property type

Commercial real estate

APN

06-18-310-001

APU

618310001

Description

Located at a prime Kalamazoo County intersection, Drake South offers 7,100 square feet of vacant retail and restaurant space, currently available as one contiguous unit ranging from 2,400 to 4,700 square feet. This exceptional opportunity is situated near the busiest intersection in Southwest Michigan, ensuring high visibility and accessibility for your business. The property boasts ample parking, making it convenient for customers and employees. The flexible space is ideal for a variety of retail or restaurant concepts, offering a chance to establish a strong presence in a thriving commercial area. With its strategic location and substantial square footage, Drake South presents a compelling investment prospect for businesses seeking a high-traffic location with excellent visibility. The entire 7,100 square foot building is currently vacant, providing a unique opportunity for a single tenant to occupy the entire space or for a potential buyer to subdivide the space to suit their needs. The minimum divisible space is 2,400 square feet, while the maximum contiguous space available is 4,700 square feet. This property is situated in Kalamazoo County, offering access to a robust local market. The property's prime location and ample parking make it an attractive option for businesses seeking a high-traffic location with excellent visibility and accessibility.

• CAP approach

  CAP return

  Valuation

  6%

  $1,781,730

  6.5%

  $1,644,670

  7%

  $1,527,200

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,595,430

  Geo Method

  $1,595,430

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $3,641,220

  Retail / Commercial

  $1,788,260

  Mixed-Use / Specialty

  $1,719,680

  Hospitality / Lodging

  $1,180,690

  Office

  $1,644,670

  Institutional / Educational

  $1,765,540

  Residential Income

  $2,065,680

  Multifamily

  $2,822,320

  Automotive / Energy

  $1,513,320

  Parking / Income-Based Land

  $583,686

  Restaurant / Food Service

  $761,661

  Healthcare / Senior Housing

  $1,827,290

Location Insight

City

Kalamazoo

County

Kalamazoo

State

Michigan

Latitude

42.2948

Longitude

-85.6475

CBSA code

28020

CBSA name

KALAMAZOO-PORTAGE, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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