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136 E Michigan Avenue $3,125,000

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136 E Michigan Avenue Kalamazoo, MI 49007

  • 81,883 sq.ft.
  • 0.17 Acres
  • Commercial-Industrial
MLS# 18011511
SOLD 12/27/2018

$3,125,000

Days On Market: 56 0 Views
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Property Details

DOWNTOWN KALAMAZOO OFFICE INVESTMENT OPPORTUNITY - Fifth Third Bank multi-tenanted building in downtown Kalamazoo, Michigan. This iconic, 90,000 SF office tower is situated in the middle of Kalamazoo's Central Business District, between the Kalamazoo Mall and Portage Street. Constructed in 1929, the Fifth Third Bank Building features 15 floors plus a full basement, Class A bank branch/bank office finishes on the ground and second floors, 2 public elevators, 2 private/service elevators and 4 stairwells. Investment has long-term tenant history, including Fifth Third Bank, The Connable Office, Lewis Reed & Allen, PC, the Irving S. Gilmore Foundation and Levine & Levine law firm. Current occupancy rate of 83%, with 7.1% cap rate on existing income.

  • General Features
    • Area Greater Kalamazoo - K
    • Property Sub Type Office
    • Business Includes Non-Applicable
    • SubArea K09 - Dntown S To Crosstown
    • Municipality Kalamazoo City
    • New Construction No
    • Ownership Corporation
    • Construction Type Concrete, Steel
    • County Kalamazoo
    • Year Built 74
    • Annual Property Tax 201803.00
    • Tax Year 2017
  • Building Features
    • Additional Details: Number Freight Elevators 1
    • Additional Features Bath Common Area, Fire Sprinkler, Multi User Facility, Security System
    • Air Conditioning Chiller System
    • Additional Details: Passenger Elevators 3
    • Total SqFt 81883.00
    • Total Bldg SqFt Gro 89996.00
    • Total Number Bldgs 1.00
    • Below Grade Basement,Full
    • Exterior Material Brick/Stone
    • Heat Source Electric
    • Heat Type Steam
    • Number Fin Bldg Levels 15.00
    • Roofing Rubber
    • Rentable Office SqFt 81883.00
    • Current Bldg Use Multi-tenanted Office Building
  • Property Features
    • Waterfront Y/N No
    • Water Public
    • Utilities Attached Cable, Electric, Natural Gas, Telephone
    • Street Type Paved,Public
    • Util Avail at St Broadband,Cable,Electric,Natural Gas,Public Sewer,Public Water,Storm Sewer,Telephone
    • Road Frontage 74.00
    • Sewer Public
    • Lot Square Footage 7405.00
    • Lot Measurement Acres
    • Lot Dimensions 74x100.5
    • Lot Acres 0.17
  • Schools
    • School District Kalamazoo

Neighborhood

49007 (Kalamazoo) Demographics

28Median Age
2,897Population Density (per sq. mile)
31%College Educated
$28,181Estimated Median Income
1,221Estimated Total Home Owners
3,212Estimated Total Renters
28% / 72%Estimated Owner / Renter Divide
2Estimated Average Household Size
10,441Total Population

Market Last 30 Days

$63,250 Median Sales Price
4 Homes Sold
4 New On Market

Average Days on Market

    Properties for Sale

      Property History

      Date Event Price Percent Change
      -- New in Database Source
      12/27/2018 3:00:00 AM Sold Source New Value: $3,125,000
      10/26/2018 9:34:34 PM Status Changed Source New Value: Pending
      8/28/2018 1:35:29 PM Status Changed Source New Value: Active

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