3630 Gull RdKalamazoo, MI 49048

Property Details for 3630 Gull Rd

Year built

1795

Lot size

1.04 AC

Property size (Sq ft)

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.

• Alternative Use

  Use

  Valuation

  Residential

  $304,067

  Hospitality

  $278,524

  Educational

  $231,728

  Medical

  $239,698

  Retail

  $360,466

Location Insight

City

Kalamazoo

County

Kalamazoo

State

Michigan

Latitude

42.3159

Longitude

-85.5366

CBSA code

28020

CBSA name

KALAMAZOO-PORTAGE, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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