Redevelopment Flex and Warehouse
For Sale
$700,000
2100 W Dickman Road W, Springfield, MI 49037
COMMERCIAL - Springfield, MI
Property Size1,344 SF
Lot Size3.15 Acres
Price / SF$154.05
Days on Market32
Property Features for 2100 W Dickman Road W
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
B-3
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Elementary school district
Battle Creek
Middle school district
Battle Creek
High school district
Battle Creek
Directions
NW Corner of W. Dickman Rd and N 20th St.
Standard status
Active
APN
54-180-026-05
Size
4,544 SF
Lot size
3.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
SP CITY, SEC 3 & 10, T2S R8W, COM AT NE COR LOT 45 BETTERLY ACRES, S 00* 32' 00" E 27.64',S 80* 13' 30" W 150', N 00* 03
Tax Annual Amount
12724
Legal Description
SP CITY, SEC 3 & 10, T2S R8W, COM AT NE COR LOT 45 BETTERLY ACRES, S 00* 32' 00" E 27.64',S 80* 13' 30" W 150', N 00* 03
Utilities
Utilities
Cable Available
Heating system
Forced Air
Cooling system
Wall Unit(s)
Building Details
Year built
1997
Floors in Building
1
Number of units
2
Building materials
Vinyl Siding, Brick, Metal Siding
Roof type
Metal, Composition
Listing Agency:
NAI Wisinski of West Michigan
(269) 353-0311
Listed By:
Jodi K Milks · License #6506044331
(269) 353-0311
Added: Jul 22
Changed: Aug 10
Last Checked: Aug 22 at 8:06AM
MLS# 26037760
Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Redevelopment opportunity comprising approximately 3.15 acres across four parcels at the former RightWay Auto Sales site. The property includes a 3,200 SF office building and a 1,344 SF warehouse featuring two exterior overhead doors. Improvements also include abundant paved parking, pylon signage, and building signage, with access from both W. Dickman Road and N. 20th Street.
The site is located at the northwest corner of W. Dickman Road and N. 20th Street in Springfield, MI, and is zoned B-2 General Commercial. The property’s corner placement provides visibility along one of Springfield’s primary commercial corridors.
With both office and warehouse space on the same multi-parcel assemblage, the property is positioned for a variety of redevelopment concepts consistent with B-2 zoning.
The site is located at the northwest corner of W. Dickman Road and N. 20th Street in Springfield, MI, and is zoned B-2 General Commercial. The property’s corner placement provides visibility along one of Springfield’s primary commercial corridors.
With both office and warehouse space on the same multi-parcel assemblage, the property is positioned for a variety of redevelopment concepts consistent with B-2 zoning.
Key Highlights
- Approximately 3.15 acres across four parcels at the former RightWay Auto Sales site
- 3,200 SF office building plus 1,344 SF warehouse
- Warehouse includes two exterior overhead doors
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$61,575
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.80%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,231,500
$1.2M
Cap Rate 7%
$879,643
$879.6K
Cap Rate 9%
$684,167
$684.2K
Market Conditions
NOI Build-Up for 4,544 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$97.1K $21.36/SF
− Vacancy
−$2.3K −$0.51/SF
EGI
$94.7K $20.85/SF
− OpEx
−$33.2K −$7.30/SF
NOI
$61.6K $13.55/SF
Area
Calhoun County, MI
Vacancy
2.40%
Lease Rate
$21.36 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,231,500
Cap Rate 7%
$879,643
Cap Rate 9%
$684,167
Alternative Uses
Best Use
Flex RnD
$879.6K
$769.7K – $1.03M
NOI $61,575 @ 7.0% cap · market cap 8.80%
Second Best
Office B
$715.1K
$625.7K – $834.3K
NOI $50,058 @ 7.0% cap · market cap 7.15%
Theoretical Best
Healthcare Medical
$53.90M
$47.16M – $62.89M
NOI $3,773,179 @ 7.0% cap · market cap 539.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
255
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49037, MI
21,427
Population
9,971
Households
2.1
Avg Household Size
37
Median Age
12%
College-Educated
88%
High-School Grad
19.3 sq mi
ZIP Area
1,110
Density / Sq Mi
$42,598
Median Household Income
$32,024
Median Earnings
$843
Median Rent
$90,600
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Redevelopment site with a 3,200 SF office building and a 1,344 SF warehouse with two exterior overhead doors.
Where is this flex space located?
The property is located at 2100 W Dickman Road W Springfield, MI.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: Approximately 3.15 acres across four parcels at the former RightWay Auto Sales site; 3,200 SF office building plus 1,344 SF warehouse; Warehouse includes two exterior overhead doors
