5136 Lovers LnPortage, MI 49002

Property Details for 5136 Lovers Ln

Year built

1987

Lot size

0.77 AC

Property size (Sq ft)

19,188 SF

Zone code

B-2

Property type

Commercial real estate

APN

10-00003-046-O

APU

1000003046O

Description

This exceptional Class B medical office building, constructed in 1989, presents a fantastic opportunity for medical professionals seeking a high-visibility location. Situated at the entrance to the prestigious Trestlewood/Trestlebridge Office Park on Lovers Lane, this property boasts prominent signage opportunities for enhanced brand recognition. The available space, totaling 2,784 square feet, is conveniently located on the first floor at the main entrance, ensuring easy accessibility for patients and staff. The efficient layout includes private offices, a conference room, a bullpen area, a reception area, a copy room, and a break room, catering to diverse operational needs. The building is a single, two-story structure, zoned B-2, and features a total of one building on the property (APN: 00003-046-O). Its strategic location offers convenient access to major thoroughfares including I-94, Westnedge Road, and Portage Road, ensuring seamless commutes for employees and clients. Furthermore, the office park provides access to the Portage Creek Bicentennial Linear Park, offering a pleasant amenity for employees. This is a multi-tenant building with a minimum divisible space of 2,784 square feet. The property is ideal for a variety of medical practices seeking a well-appointed and highly visible location.

• CAP approach

  CAP return

  Valuation

  6%

  $4,090,080

  6.5%

  $3,775,460

  7%

  $3,505,790

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,499,240

  Geo Method

  $2,499,240

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $6,916,600

  Retail / Commercial

  $3,647,890

  Mixed-Use / Specialty

  $3,714,550

  Hospitality / Lodging

  $2,828,970

  Office

  $3,775,460

  Institutional / Educational

  $3,890,110

  Residential Income

  $4,551,430

  Multifamily

  $5,017,090

  Automotive / Energy

  $3,334,380

  Parking / Income-Based Land

  $1,071,950

  Restaurant / Food Service

  $2,101,990

  Healthcare / Senior Housing

  $3,727,510

Location Insight

City

Portage

County

Kalamazoo

State

Michigan

Latitude

42.2422

Longitude

-85.5755

CBSA code

28020

CBSA name

KALAMAZOO-PORTAGE, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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