Restaurant With Lower-Level
For Sale
$450,000
883 North Avenue, Battle Creek, MI 49017
Commercial Sale, Battle Creek, MI
Property Size3,690 SF
Lot Size0.62 Acres
Price / SF$121.95
Days on Market322
Property Features for 883 North Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Elementary school district
Battle Creek
Middle school district
Battle Creek
High school district
Battle Creek
Directions
North on North Ave, just north of Coolidge Ave but South of 0 Dr N
Subdivision
Battle Creek - B
Standard status
Active
APN
04-400-001-00
Size
3,690 SF
Lot size
0.62 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
DIST:04 BEDFORD TWP. ORCHARD PARK NO.2 LOT 1 EXC S'LY 150 FT OF E'LY 170 FT ALSO EXC N 40 FT THEREOF
Tax Annual Amount
5634
Legal Description
DIST:04 BEDFORD TWP. ORCHARD PARK NO.2 LOT 1 EXC S'LY 150 FT OF E'LY 170 FT ALSO EXC N 40 FT THEREOF
Utilities
Utilities
Natural Gas Available
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1960
Number of units
1
Listing Agency:
1st Advantage Realty
(616) 534-4480
Listed By:
Rene Guzman · License #6501383944
(616) 260-8670
Added: Oct 28, 2025
Changed: Sep 12
Last Checked: Sep 14 at 11:06AM
MLS# 25055259
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 restaurant property combines a main-level dining operation with a lower-level lounge suited to nightclub events, private parties, or other event uses identified in the listing. The sale includes the real estate, restaurant equipment, and furniture, supporting a transition with the existing physical setup in place. The property contains 3690 square feet on a 0.62-acre parcel and includes two bathrooms.
Constructed in 1960, the building is served by forced-air heating and central air conditioning. Natural gas is available. Located at 883 North Avenue in Battle Creek, Michigan, the property offers a restaurant-oriented commercial setting with a dedicated lower-level component for flexible hospitality or gathering uses.
Constructed in 1960, the building is served by forced-air heating and central air conditioning. Natural gas is available. Located at 883 North Avenue in Battle Creek, Michigan, the property offers a restaurant-oriented commercial setting with a dedicated lower-level component for flexible hospitality or gathering uses.
Key Highlights
- Main‑level restaurant with lower‑level lounge
- Liquor C License included
- Restaurant equipment and furniture convey with the real estate
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
$41,042
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
9.12%
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%
$820,840
$820.8K
Cap Rate 7%
$586,314
$586.3K
Cap Rate 9%
$456,022
$456.0K
Market Conditions
NOI Build-Up for 3,690 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
$57.1K $15.48/SF
− Vacancy
−$2.4K −$0.65/SF
EGI
$54.7K $14.83/SF
− OpEx
−$13.7K −$3.71/SF
NOI
$41.0K $11.12/SF
Area
Calhoun County, MI
Vacancy
4.20%
Lease Rate
$15.48 /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%
$820,840
Cap Rate 7%
$586,314
Cap Rate 9%
$456,022
Alternative Uses
Best Use
Specialty Retail
$586.3K
$513.0K – $684.0K
NOI $41,042 @ 7.0% cap · market cap 9.12%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$43.77M
$38.30M – $51.07M
NOI $3,064,047 @ 7.0% cap · market cap 680.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
139
Businesses Nearby
7k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar General
Shops & Services
7,390 visits/mo
0.5 miles
Demographics for 49017, MI
21,377
Population
9,701
Households
2.2
Avg Household Size
42
Median Age
20%
College-Educated
92%
High-School Grad
56.8 sq mi
ZIP Area
376
Density / Sq Mi
$58,500
Median Household Income
$40,386
Median Earnings
$946
Median Rent
$134,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Operating dining venue with lounge space, restaurant equipment, furniture, and a Liquor C License included.
Where is this conventional restaurant located?
The property is located at 883 North Avenue Battle Creek, MI.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Main‑level restaurant with lower‑level lounge; Liquor C License included; Restaurant equipment and furniture convey with the real estate
