5120 Lovers Lane, Portage, MI 49002 (MLS# 25042132)
5120 Lovers Lane, Portage, MI 49002
$925,000
Property Type:
Commercial Sale
Square Footage:
8,400
Status:
Active
Current Price:
$925,000
List Date:
8/19/2025
Last Modified:
8/19/2025
Description
Outstanding investment opportunity in North Portage. This fully leased property comprised of five separate condo units has a good mixture of tenants providing a steady stream of income. Tenants are two dentist offices, accountant, counseling and massage. Building is in quiet, wooded location overlooking a creek and trail. Great addition to an investment portfolio or possible future owner occupant.
More Information MLS# 25042132
Location & Property Info
Cross Streets: Kilgore and Unifab Ct
Property Sub-Type: Office
Municipality: Portage City
Ownership Type: Private Owned
Office/Contract Info
Auction or For Sale: For Sale
List Price/SqFt: 110.12
Prop Avail for Lease?: No
Current Bldg Use: 5 condo units rented to separate tenants
General Property Info
New Construction: No
Lot Dimensions: 0 x 0
Road Frontage: 0
Mineral Rights: Unknown
Waterfront: No
Total # Units: 5
# of Diff Unit Floor Plans: 5
Total # Bldgs: 1
# Fin Bldg Lvls: 1
Total SqFt: 8400
Total Net SqFt: 8400
Property Use Type: Net Leased (nnn)
School District: Portage
Lot Measurement: Square Feet
Year Built: 1985
Full Baths: 5
Tax Info
Taxable Value: 336088
SEV: 383984
For Tax Year: 2025
Seller's Annual Property Tax: 21215
Tax Year: 2025
Homestead %: 0
Spec Assessment & Type: none known
Zoning: B-2
Tax ID #: 3900003049C
Remarks & Misc
Legal: Trestlewood office condo unit 11
Additional Details
Total Parking Spaces: 35
Income and Expenses
Annual Maint ($): 4835
Annual Mgt Fees ($): 0
Annual Prop Ins ($): 1255
Gross Op Income ($): 142017
Total Actual Rent: 142017
Net Operating Income: 85898
Operating Expense: 56119
Street Type
Paved: 1
SqFt Information
Smoke Detector(s): 1
Property Use
Investment: 1
Net Leased (nnn): 1
Utilities Attached
Natural Gas Connected: 1
Sewer
Public Sewer: 1
Water
Public Water: 1
Uses
Professional Service: 1
Professional/Office: 1
Construction Type
Frame/Wood: 1
Exterior Material
Wood Siding: 1
Roofing
Composition: 1
Heat Source
Natural Gas: 1
Sale Conditions
None: 1
Ownership
LLC: 1
Below Grade
None: 1
Heat Type
Forced Air: 1
Air Conditioning
Central Air: 1
Business Includes
Non-Applicable: 1
Additional Features
Barrier Free: 1
Foundation
Slab: 1
Util Avail at St
High Speed Internet: 1
Tenant Pays All
Electric: 1
Gas: 1
Driveway
Asphalt: 1
Shared Paved: 1
Docs Req Conf Agrmnt
Financials: 1
Leases: 1
Send to Econ Dev Org
MEDC: 1
SWMI First, Region 5: 1
Purchase Terms Avail
Cash: 1
Conventional: 1
Unit 1
Unit Description: 5100
SqFt: 1116
Occupied: Yes
Rent $/Month: 1500
$ Per SqFt: 16.13
# Baths: 1
Tenant Pays Electric: 1
Tenant Pays Gas: 1
Unit 2
Unit Description: 5102
SqFt: 2313
Occupied: Yes
Rent $/Month: 3753
$ Per SqFt/Year: 19.47
Tenant Pays Electric: 1
# Baths: 1
Tenant Pays Gas: 1
Unit 3
Unit Description: 5104
SqFt: 1213
Occupied: Yes
Rent $/Month: 1415
Tenant Pays Electric: 1
$ Per SqFt/Year: 14
# Baths: 1
Tenant Pays Gas: 1
Unit 4
Unit Description: 5106
SqFt: 1475
Occupied: Yes
Rent $/Month: 1716
Tenant Pays Electric: 1
$ Per SqFt/Year: 13.97
# Baths: 1
Tenant Pays Gas: 1
Unit 5
Unit Description: 5108
SqFt: 1966
Occupied: Yes
Rent $/Month: 34.5
$ Per SqFt/Year: 21.06
# Baths: 1
Possession
Subject To Tenant Rights: 1
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: 2025-03-11
Remarks Misc
Directions: From E Kilgore Rd head South on Lovers Lane to property.
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: August - 19 - 2025
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