Office Building with
For Sale
$194,900
2963 W Dickman Road, Springfield, MI 49037
Commercial Sale, Springfield, MI
Property Size1,128 SF
Lot Size0.42 Acres
Price / SF$172.78
Days on Market185
Property Features for 2963 W Dickman Road
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
IRT
Bathrooms
1
Full bathrooms
1
Rooms
Basement, Bathroom 1
Elementary school district
Battle Creek
Middle school district
Battle Creek
High school district
Battle Creek
Directions
Helmer Rd to East on Dickman Rd
Standard status
Active
APN
54-080-035-00
Size
1,128 SF
Lot size
0.42 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
SP CITY, EDGEWOOD, W 1/2 OF LOT 12, LOTS 13, 14 & 15, BLK 11. *** TIFA-B 86 SEV 12,400 ***
Tax Annual Amount
3267
Legal Description
SP CITY, EDGEWOOD, W 1/2 OF LOT 12, LOTS 13, 14 & 15, BLK 11. *** TIFA-B 86 SEV 12,400 ***
Utilities
Utilities
Cable Available
Heating system
Forced Air
Building Details
Year built
1930
Number of units
1
Building materials
Aluminum Siding, Wood Siding
Roof type
Composition
Listing Agency:
EB Realty LLC
(269) 420-6868
Listed By:
Eric Blair · License #6502431108
(269) 224-6801
Added: Mar 20
Changed: Sep 7
Last Checked: Sep 20 at 2:06AM
MLS# 26010918
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.
This 1,128-square-foot office property includes a full basement that can support storage or additional workspace, along with a shared restroom. The building was constructed in 1930 and features forced-air heat, aluminum and wood siding, a composition roof, and cable availability. A new roof was installed in Sept 2025.
The property is located at 2963 W Dickman Road in Springfield, with frontage on three streets and proximity to the Helmer Road intersection. On-site parking serves customers and staff, while the prior chiropractic-office configuration provides a factual reference for the building’s professional-service use. The parcel contains 0.42 acres.
The property is located at 2963 W Dickman Road in Springfield, with frontage on three streets and proximity to the Helmer Road intersection. On-site parking serves customers and staff, while the prior chiropractic-office configuration provides a factual reference for the building’s professional-service use. The parcel contains 0.42 acres.
Key Highlights
- 1,128‑square‑foot office building with a full basement
- New roof installed in Sept 2025
- 0.42‑acre parcel with frontage on three streets
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
$12,426
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
6.38%
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%
$248,520
$248.5K
Cap Rate 7%
$177,514
$177.5K
Cap Rate 9%
$138,067
$138.1K
Market Conditions
NOI Build-Up for 1,128 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
$19.2K $17.04/SF
− Vacancy
−$2.7K −$2.35/SF
EGI
$16.6K $14.69/SF
− OpEx
−$4.1K −$3.67/SF
NOI
$12.4K $11.02/SF
Area
Calhoun County, MI
Vacancy
13.80%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
25.00%
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%
$248,520
Cap Rate 7%
$177,514
Cap Rate 9%
$138,067
Alternative Uses
Best Use
Healthcare Medical
$13.38M
$11.71M – $15.61M
NOI $936,652 @ 7.0% cap · market cap 480.58%
Second Best
Office B
$177.5K
$155.3K – $207.1K
NOI $12,426 @ 7.0% cap · market cap 6.38%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
190
Businesses Nearby
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Professional office property with basement space, shared restroom, and on-site customer parking.
Where is this office units located?
The property is located at 2963 W Dickman Road Springfield, MI.
What is the asking price?
The asking price for this property is $194,900.
What are key features of this property?
This property features: 1,128‑square‑foot office building with a full basement; New roof installed in Sept 2025; 0.42‑acre parcel with frontage on three streets
