$1,200,000
Kalamazoo, MI 49007
MLS# 24013198
9354 sqft
1 / 40
Property Description
This development opportunity is unique as it is surrounded by public alleys on three sides, so future apartments will enjoy abundant natural light. The ground floor hosts a long-standing tenant on a month-to-month lease and an unoccupied retail space, plus an area ideally suited for an elevator shaft. The current owners occupy the top two floors and are willing to remain as tenants, helping to offset holding costs. The basement boasts unusually high ceilings, perfect for tenant storage, and it remains moisture-free due to recent improvements. Renovations in 1987 included insulated double-hung windows, updated mechanical systems, and refreshed finishes on the upper levels. Situated on South Street, a quiet location ideal for high end apartments. Seller financing is available.
Details
Maps
Location & Property Info
County: Kalamazoo
Street #: 122
Street Direction: W
Street Name: South
Suffix: Street
State: MI
Zip Code: 49007
Zip (4): 4711
Cross Streets: Rose & Kalamazoo Mall
Property Sub-Type: Retail/Commercial
Area: Greater Kalamazoo - K
Municipality: Kalamazoo City
Office/Contract Info
Status: Active
Current Price: $1,200,000
List Price: $1,200,000
Auction or For Sale: For Sale
List Price/SqFt: 128.29
Prop Avail for Lease?: Yes
Sub Agency Type: %
Buyer Agency: 2.5
Buyer Agency Type: %
Trans Coord: 2.5
Trans Coord Type: %
Listing Date: 2024-03-15
General Property Info
New Construction: No
Lot Measurement: Acres
Lot Acres: 0.09
Lot Square Footage: 3920
Lot Dimensions: 52x58
Year Built: 1900
Road Frontage: 52
Year Remodeled: 1987
Total # Units: 3
# Fin Bldg Lvls: 3
Total # Bldgs: 1
Total SqFt: 9354
Total Net SqFt: 9354
Full Baths: 4
Waterfront: No
Body of Water: SHARPS LAKE
School District: Kalamazoo
Statewide Lakes & Rivers: SHARPS LAKE
Tax Info
Tax ID #: 06-15-391-001
Taxable Value: 124543
SEV: 175700
For Tax Year: 2023
Annual Property Tax: 8879
Tax Year: 2023
Spec Assessment & Type: None Known
Zoning: D-1
Remarks & Misc
Legal: See attached legal desription
Directions: From South Street & the Kalamazoo Mall, west to property
Property Features
Uses: Bar/Tavern/Lounge; Professional Service; Professional/Office; Restaurant; Retail
Business Includes: Non-Applicable
Construction Type: Frame/Wood
Exterior Material: Brick
Roofing: Composition
Foundation: Block
Below Grade: Basement
Sewer: Public
Water: Public
Utilities Attached: Electric; Natural Gas; Telephone
Util Avail at St: Broadband; Cable
Heat Source: Natural Gas
Heat Type: Forced Air
Purchase Terms Avail: Cash; Conventional; Land Contract
Sale Conditions: None
Send to Econ Dev Org: MEDC; SWMI First, Region 5
Listing Office: Dover Birch & Associates
Listing Agent: Rob Peterson
Last Updated: April - 10 - 2024
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