1634 Gull Rd
Kalamazoo, MI 49048 Eastwood

• Unit Size: 8,000 SF
• Condo Use: Medical
• Price: $1,300,000 USD
• Sale Type: Investment
• Price/SF: $162.50 USD

Sale Notes

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.