Marc Tourangeau, MBA, CCIM, Associate Broker | Cell: (269) 207-3072 | marct@jaquarealtors.com Office: (269) 216-4222 | 328 W. Milham Portage, Michigan 49024 | www.jaquarealtors.com/commercial Investment Offering Norbridge Building Live,Work,Play 500 Butler Ct. Kalamazoo, MI COMMERCIAL
The Asset
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.
Information provided is believed to be accurate however it is strictly the buyer’s responsibility to confirm and verify all information and perform their own due diligence prior to closing. Broker and agent make no warranties or representations as to the accuracy of the information provided.
COMMERCIAL
asset details Total Buildings: One Lot Size: .65 acres Total Square-Footage: 13,020 SF (per city tax records) Year Built: 2014 Number of Apartments: 5 Number of Commercial Suites: 1 2022 SEV: $984,700 2022 Taxable Value: $506,224 2022 Taxes: $31,621 City Rental Certificate: 52 month rental certificate through 6.1.26 COMMERCIAL Information provided is believed to be accurate however it is strictly the buyer’s responsibility to confirm and verify all information and perform their own due diligence prior to closing. Broker and agent make no warranties or representations as to the accuracy of the information provided.
Garden Level BLueprint
Information provided is believed to be accurate however it is strictly the buyer’s responsibility to confirm and verify all information and perform their own due diligence prior to closing. Broker and agent make no warranties or representations as to the accuracy of the information provided.
COMMERCIAL
Main Level BLueprint
Information provided is believed to be accurate however it is strictly the buyer’s responsibility to confirm and verify all information and perform their own due diligence prior to closing. Broker and agent make no warranties or representations as to the accuracy of the information provided.
COMMERCIAL
Second Floor BLueprint
Information provided is believed to be accurate however it is strictly the buyer’s responsibility to confirm and verify all information and perform their own due diligence prior to closing. Broker and agent make no warranties or representations as to the accuracy of the information provided.
COMMERCIAL
Mezzanine BLueprint
Information provided is believed to be accurate however it is strictly the buyer’s responsibility to confirm and verify all information and perform their own due diligence prior to closing. Broker and agent make no warranties or representations as to the accuracy of the information provided.
COMMERCIAL
market overview
1 Mile 3 Miles 5 Miles Population 2021: 8,949 78,278 143,196 Households 2021: 3,272 29,457 57,414 Avg. Household Income 2021: $47,078 $58,487 $63,248 COMMERCIAL Information provided is believed to be accurate however it is strictly the buyer’s responsibility to confirm and verify all information and perform their own due diligence prior to closing. Broker and agent make no warranties or representations as to the accuracy of the information provided.
Information provided is
Additional photos
to
COMMERCIAL
believed
be accurate however it is strictly the buyer’s responsibility to confirm and verify all information and perform their own due diligence prior to closing. Broker and agent make no warranties or representations as to the accuracy of the information provided.
Additional photos
COMMERCIAL Information provided is believed to be accurate however it is strictly the buyer’s responsibility to confirm and verify all information and perform their own due diligence prior to closing. Broker and agent make no warranties or representations as to the accuracy of the information provided.
Information provided
Additional photos
COMMERCIAL
is believed to be accurate however it is strictly the buyer’s responsibility to confirm and verify all information and perform their own due diligence prior to closing. Broker and agent make no warranties or representations as to the accuracy of the information provided.
Information provided
Additional photos
COMMERCIAL
is believed to be accurate however it is strictly the buyer’s responsibility to confirm and verify all information and perform their own due diligence prior to closing. Broker and agent make no warranties or representations as to the accuracy of the information provided.
Additional photos
COMMERCIAL Information provided is believed to be accurate however it is strictly the buyer’s responsibility to confirm and verify all information and perform their own due diligence prior to closing. Broker and agent make no warranties or representations as to the accuracy of the information provided.
Additional photos
COMMERCIAL Information provided is believed to be accurate however it is strictly the buyer’s responsibility to confirm and verify all information and perform their own due diligence prior to closing. Broker and agent make no warranties or representations as to the accuracy of the information provided.
Information provided
Additional photos
COMMERCIAL
is believed to be accurate however it is strictly the buyer’s responsibility to confirm and verify all information and perform their own due diligence prior to closing. Broker and agent make no warranties or representations as to the accuracy of the information provided.
Information provided
Additional photos
COMMERCIAL
is believed to be accurate however it is strictly the buyer’s responsibility to confirm and verify all information and perform their own due diligence prior to closing. Broker and agent make no warranties or representations as to the accuracy of the information provided.
Additional photos
COMMERCIAL Information provided is believed to be accurate however it is strictly the buyer’s responsibility to confirm and verify all information and perform their own due diligence prior to closing. Broker and agent make no warranties or representations as to the accuracy of the information provided.
Information provided
Additional photos
COMMERCIAL
is believed to be accurate however it is strictly the buyer’s responsibility to confirm and verify all information and perform their own due diligence prior to closing. Broker and agent make no warranties or representations as to the accuracy of the information provided.
Broker For More Detailed Information Contact: Marc Tourangeau, MBA, CCIM Associate Broker Cell: (269) 207-3072 marct@jaquarealtors.com Summary of Offering Price: $2,386,000 Pro-Forma CAP Rate = 7.2% (269) 341-4300 | 221 S. Drake Road, Kalamazoo, Michigan 49009 | www.jaquarealtors.com/commercial COMMERCIAL
