Freestanding Storefront
For Sale
$475,000
3301 W Michigan Avenue, Battle Creek, MI 49037
Commercial Sale, Battle Creek, MI
Property Size2,765 SF
Lot Size1.56 Acres
Price / SF$171.79
Days on Market310
Property Features for 3301 W Michigan Avenue
General Information
Property type
Commercial Sale
Property subtype
Retail
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Parking
50
Elementary school district
Battle Creek
Middle school district
Battle Creek
High school district
Battle Creek
Subdivision
Battle Creek - B
Standard status
Active
APN
04-029-006-04
Size
2,765 SF
Lot size
1.56 Acres
Taxes and HOA fees
Tax Year
2023
Tax Description
See documents for legal description
Tax Annual Amount
5383
Legal Description
See documents for legal description
Utilities
Utilities
Cable Available
Sewer type
Septic Tank
Heating system
Forced Air
Cooling system
Central Air
Water source
Well
Building Details
Year built
1978
Number of units
1
Building materials
Wood Siding
Roof type
Composition
Listing Agency:
RE/MAX Perrett Associates
(269) 968-6101
Listed By:
Chip B Spranger · License #6501217484
(269) 441-5580
Added: Nov 3, 2025
Changed: Sep 7
Last Checked: Sep 9 at 9:06AM
MLS# 25056372
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 freestanding storefront property contains 2,765 square feet on a 1.56-acre parcel. The building dates to 1978 and includes two bathrooms, forced-air heating, central air conditioning, wood siding, and a composition roof. The site is served by well water and a septic tank, with cable available.
More than 50 parking spaces are available on the property, along with road frontage on W Michigan Avenue. The site is near Urbandale, Augusta, and Richland in Battle Creek. Previously used as a pizza restaurant, the building can accommodate a relocated operation or a new commercial concept, subject to applicable approvals.
More than 50 parking spaces are available on the property, along with road frontage on W Michigan Avenue. The site is near Urbandale, Augusta, and Richland in Battle Creek. Previously used as a pizza restaurant, the building can accommodate a relocated operation or a new commercial concept, subject to applicable approvals.
Key Highlights
- 2,765‑square‑foot storefront building on 1.56 acres
- Parking for over 50 cars
- Previously operated as a pizza restaurant
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
$28,703
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
6.04%
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%
$574,060
$574.1K
Cap Rate 7%
$410,043
$410.0K
Cap Rate 9%
$318,922
$318.9K
Market Conditions
NOI Build-Up for 2,765 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
$42.8K $15.48/SF
− Vacancy
−$1.8K −$0.65/SF
EGI
$41.0K $14.83/SF
− OpEx
−$12.3K −$4.45/SF
NOI
$28.7K $10.38/SF
Area
Calhoun County, MI
Vacancy
4.20%
Lease Rate
$15.48 /SF/Yr
Expense Ratio
30.00%
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%
$574,060
Cap Rate 7%
$410,043
Cap Rate 9%
$318,922
Alternative Uses
Best Use
Retail
$410.0K
$358.8K – $478.4K
NOI $28,703 @ 7.0% cap · market cap 6.04%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$32.80M
$28.70M – $38.27M
NOI $2,295,959 @ 7.0% cap · market cap 483.36%
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
57
Businesses Nearby
5k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar General
Shops & Services
5,428 visits/mo
0.1 miles
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 Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Storefront property - Former restaurant site with on-site parking and central air conditioning.
Where is this storefront property located?
The property is located at 3301 W Michigan Avenue Battle Creek, MI.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 2,765‑square‑foot storefront building on 1.56 acres; Parking for over 50 cars; Previously operated as a pizza restaurant
