500 E Butler Ct - Office/Residential FOR SALE


Kalamazoo, MI 49007
$1,900,000 USD
269-216-4222
500 E Butler Ct, Kalamazoo, MI for Sale
$1,900,000 USD
Office/Residential - FOR SALE
1/11
null | 10.35% Cap Rate

500 E Butler Ct
Kalamazoo, MI 49007


OVERVIEW

Fully Leased Investment Property now available for purchase. This property is a mixed-use building offering an 8,000+ office suite and five residential apartments priced at a 7.2% cap-rate. Financials available upon signing a non-disclosure agreement. Located in the heart of River’s Edge, Kalamazoo’s best Live, Work, Play, Eat, and Shop area is the Norbirdge Building. This architecturally unique facility built-in 2014 offers the discerning investor five highly desirable apartments and 8,474 square feet of leased office space. The office suite is the definition of “cool” with an industrial feel designed for Tenant’s seeking a collaborative work environment yet, offering great options to a hybrid workforce. The office space consists of an open floorplan encompassing three floors centered around the open stairwell, which provides: • Conference rooms. • Private meeting rooms. • An open kitchen area. • An outdoor deck overlooking the River’s Edge District. The apartments consist of 2 one-bedroom and three loft-style apartments. These apartments are consistently oversubscribed. As fast as the Landlords can turn them, they are reoccupied. The units offer their residents a stackable washer and dryer, private patio/deck, covered parking (1 space/unit), bicycle storage, and access to the 2,000 sf common area deck on the 3rd level. Norbridge is across the street from Louie’s Trophy House Restaurant, Elysium Restaurant, Green Door Distilling, Brewery Outre, Walnut & Park Coffee, and within easy walking distance to Bell’s Brewery, Sarkozy’s Bakery, Hop Cat, 600 Kitchen and Bar. The Norbridge Building is only 100 yards from entry to the Kalamazoo River Valley biking trail, five blocks from the Amtrak and Bus Station, and only 12 minutes walking from the geographical center of downtown Kalamazoo. The property allows its tenants to Live, Work, Play, Eat, and Shop downtown.

FOR SALE DETAILS

PRICE

$1,900,000 USD

PRICE/SF

$199 USD /SF

CAP RATE

10.35%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Office/Residential

TOTAL BUILDING SIZE

-

STORIES

3

BUILDING CLASS

B

YEAR BUILT

2014

SPRINKLERS

-

PARKING SPACES

17

LAND DETAILS

LAND ACRES

0.7 AC

LAND SF

30,492 SF

ZONING

Commercial

APN/PARCEL ID

06-15-268-201,06-15-268-204

ASK ABOUT THIS PROPERTY

Marc TourangeauJaqua CommercialMore Info
269-216-4222

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Marc TourangeauJaqua CommercialMore Info
269-216-4222

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.