Norbridge Building - Investment Offering

Investment Offering

Norbridge Building Live, Work, Play 500 Butler Ct. Kalamazoo, MI 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

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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.

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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

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.

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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.

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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.

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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.

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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.

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market overview

1 Mile

3 Miles

5 Miles

Population 2021:

8,949

78,278

143,196

Households 2021:

3,272

29,457

57,414

$47,078

$58,487

$63,248

Avg. Household Income 2021:

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.

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Additional photos

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

Additional photos

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

Additional photos

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

Additional photos

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

Additional photos

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

Additional photos

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

Additional photos

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

Additional photos

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

Additional photos

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

Additional photos

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

Broker

Summary of Offering Price: $2,386,000 Pro-Forma CAP Rate = 7.2% For More Detailed Information Contact:

Marc Tourangeau, MBA, CCIM Associate Broker Cell: (269) 207-3072 marct@jaquarealtors.com

(269) 341-4300 | 221 S. Drake Road, Kalamazoo, Michigan 49009 | www.jaquarealtors.com/commercial

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