$925,000
Portage, MI 49002
MLS# 26000359
8400 sqft
1 / 3
Property Description
Outstanding investment opportunity in North Portage. This fully leased property comprised of five separate condo units has a good mixture of tenants providing a steady stream of income. Tenants are two dentist offices, accountant, counseling and massage. Building is in quiet, wooded location overlooking a creek and trail. Great addition to an investment portfolio or possible future owner occupant.
Details
Maps
Location Property Info
County: Kalamazoo
Street #: 5120
Street Name: Lovers
Suffix: Lane
State: MI
Zip Code: 49002
Area: Greater Kalamazoo - K
OfficeContract Info
Status: Active
Current Price: $925,000
List Price: $925,000
Listing Date: 2026-01-02
General Property Info
New Construction: No
Lot Measurement: Square Feet
Lot Dimensions: 0 x 0
Year Built: 1985
Mineral Rights: Unknown
Total # Units: 5
# Fin Bldg Lvls: 1
# of Diff Unit Floor Plans: 5
Total # Bldgs: 1
Total SqFt: 8400
Total Net SqFt: 8400
Property Use Type: Net Leased (nnn)
Full Baths: 5
Waterfront: No
School District: Portage
Tax Info
Tax ID #: 3900003049C
Taxable Value: 336088
SEV: 383984
For Tax Year: 2025
Seller's Annual Property Tax: 21215
Tax Year: 2025
Spec Assessment & Type: none known
Zoning: B-2
Remarks Misc
Directions: From E Kilgore Rd head South on Lovers Lane to property.
Additional Details
Total Parking Spaces: 35
Income and Expenses
Annual Maint ($): 4835
Annual Prop Ins ($): 1255
Gross Op Income ($): 142017
Net Operating Income: 85898
Total Actual Rent: 142017
Operating Expense: 56119
Unit 1
Unit Description: 5100
SqFt: 1116
Occupied: Yes
Rent $/Month: 1500
$ Per SqFt: 16.13
# Baths: 1
Unit 2
Unit Description: 5102
SqFt: 2313
Occupied: Yes
Rent $/Month: 3753
$ Per SqFt/Year: 19.47
# Baths: 1
Unit 3
Unit Description: 5104
SqFt: 1213
Occupied: Yes
Rent $/Month: 1415
$ Per SqFt/Year: 14
# Baths: 1
Unit 4
Unit Description: 5106
SqFt: 1475
Occupied: Yes
Rent $/Month: 1716
$ Per SqFt/Year: 13.97
# Baths: 1
Unit 5
Unit Description: 5108
SqFt: 1966
Occupied: Yes
Rent $/Month: 34.5
$ Per SqFt/Year: 21.06
# Baths: 1
Property Features
Property Use: Investment; Net Leased (nnn)
SqFt Information: Smoke Detector(s)
Uses: Professional Service; Professional/Office
Ownership: LLC
Business Includes: Non-Applicable
Construction Type: Frame/Wood
Exterior Material: Wood Siding
Roofing: Composition
Foundation: Slab
Below Grade: None
Additional Features: Barrier Free
Tenant Pays All: Electric; Gas
Sewer: Public Sewer
Water: Public Water
Utilities Attached: Natural Gas Connected
Util Avail at St: High Speed Internet
Heat Source: Natural Gas
Heat Type: Forced Air
Air Conditioning: Central Air
Driveway: Asphalt; Shared Paved
Street Type: Paved
Purchase Terms Avail: Cash; Conventional
Docs Req Conf Agrmnt: Financials; Leases
Sale Conditions: None
Send to Econ Dev Org: MEDC; SWMI First, Region 5
Unit 1: Tenant Pays Electric; Tenant Pays Gas
Unit 2: Tenant Pays Electric; Tenant Pays Gas
Unit 3: Tenant Pays Electric; Tenant Pays Gas
Unit 4: Tenant Pays Electric; Tenant Pays Gas
Possession: Subject To Tenant Rights
Listing Office: Berkshire Hathaway HomeServices MI
Listing Agent: Ryan Rider
Last Updated: January - 05 - 2026
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