1634 Gull Rd - Medical CONDO FOR SALE


Kalamazoo, MI 49048- Eastwood
$1,300,000 USD
614-306-7852
1634 Gull Rd, Kalamazoo, MI for Sale
$1,300,000 USD
Medical CONDO - FOR SALE
1/5
null | 9.81% Cap Rate

1634 Gull Rd
Kalamazoo, MI 49048
Eastwood


HIGHLIGHTS

  • Early Lease Extension and Expansion – WellNow extended the lease through April 2030 and expanded from 4,077 SF to approximately 8,000 SF in 2025
  • 2% Annual Rent Increases – Contractual annual increases continue throughout the current term and extension options
  • Corporate Guaranty – Supported by WellNow’s operating platform of more than 150 locations across five states and The Aspen Group backing
  • Strategic Medical Corridor Location – Directly across from Beacon Kalamazoo Hospital, a 422 bed regional medical center
  • High Traffic Visibility – Frontage along Gull Road with approximately 25,893 vehicles per day
  • Double Net (NN) Lease Structure – Tenant is responsible for all obligations other than the landlord’s 50% share of roof, structure, and HVAC costs

OVERVIEW

This offering presents the opportunity to acquire an approximately 8,000 SF condominium interest leased to WellNow Urgent Care in the heart of Kalamazoo’s established medical corridor. In 2025, WellNow expanded its premises from 4,077 SF to approximately 8,000 SF and extended the current lease term through April 30, 2030, demonstrating a meaningful commitment to the location. The lease includes 2% annual rent increases throughout the remaining term and two additional five-year extension options, with the 2% annual increases continuing through the option periods. The lease includes a corporate guaranty, and WellNow operates more than 150 locations across Illinois, Indiana, Michigan, New York, and Pennsylvania. The property is positioned along Gull Road with visibility to approximately 25,893 vehicles per day and is located directly across from Beacon Kalamazoo Hospital, a 422 bed regional medical center. The surrounding area includes complementary healthcare providers, established medical infrastructure, and dense residential neighborhoods that support demand for convenient outpatient medical services. The double net (NN) lease provides a limited landlord obligation structure, with the landlord responsible for only 50% of roof, structure, and HVAC costs and the tenant responsible for all other obligations.

FOR SALE DETAILS

PRICE

$1,300,000 USD

PRICE/SF

$163 USD /SF

CAP RATE

9.81%

# OF UNITS

1

CONDO SIZE

-

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

16,156 SF

STORIES

2

BUILDING CLASS

B

YEAR BUILT

1965

SPRINKLERS

-

PARKING SPACES

90

LAND DETAILS

LAND ACRES

0.9 AC

LAND SF

39,204 SF

ZONING

C-1

APN/PARCEL ID

06-11-455-032

ASK ABOUT THIS PROPERTY

Jake CarterEquity, LLCMore Info
614-306-7852

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Jake CarterEquity, LLCMore Info
614-306-7852

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