Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    102 N Centerville Rd Sturgis, MI

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Retail property with drive-thru, high visibility, and ample parking.

    Type:RETAIL
    Property size:
    10,167 SF
    Lot size:
    1.37 Acres
    Added:
    Jan 17, 2024
    Days on Market:
    829
    Last Refresh:
    Apr 5 at 10:13 pm

    Property Features for 102 N Centerville Rd

    General Information

    Standard status
    Active
    Size
    10,167 SF
    Lot size
    1.37 Acres
    Property subtype
    RETAIL

    Spaces For Lease

    at 102 N Centerville Rd Contact us

    We can help!

    Listing Contact
    Deno Bistolarides
    Deno Bistolarides

    Listing agent Deno Bistolarides

    Listing office Encore Real Estate Investment Services

    Listing date Jan 17, 2024

    Source Moodyscre

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Encore Real Estate Investment Services

    Overview

    Retail Building with Drive-Thru

    This retail property is positioned at a signalized intersection, offering excellent visibility with frontage and signage along Centerville Street and West Chicago Road. It is situated along a strong retail corridor and surrounded by national retailers, including Aldi, KFC, McDonald's, Meijer, Starbucks, and Tractor Supply Co. The property features a two-lane drive-thru and ample parking on all sides of the building. The property size is 10167 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Lavan Kumar Odapally, ... Pharmacy

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Dental Office Building Supply Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Sturgis
    County
    St. Joseph
    State
    Michigan
    Longitude
    -85.4284
    Latitude
    41.797

    Nearby Similar for Lease

    • $8 SF/Yr

      Commercial Opportunity on US-12

      Highly visible commercial space with frontage on US-12 in Sturgis.
      24977 US-12, Sturgis, MI 49091
      View Details
    • $20 SF/Yr

      Sturgis, MI Commercial Space

      Class A office/retail space with high visibility and ample parking.
      1307 S Centerville Road, Sturgis, MI 49091
      View Details
    • Contact for pricing

      Retail Center Pad Site Opportunity

      New retail center pad site available for lease.
      1270 S Centerville Rd | Sturgis, MI 49091
      View Details
    • Contact for pricing

      Retail Space in Sturgis Plaza

      Retail space available in a grocery-anchored shopping center.
      707-973 South Centerville Rd, Sturgis, MI
      View Details
    • Contact for pricing

      Retail Space in Sturgis Plaza

      Retail space available in a grocery-anchored shopping center.
      863-895 S Centerville Rd, Sturgis, MI
      View Details
    • Contact for pricing

      Retail Space in Sturgis Plaza

      Retail space available in a grocery-anchored shopping center.
      721-753 S Centerville Rd, Sturgis, MI
      View Details
    • Contact for pricing

      Retail Space in Sturgis Plaza

      Retail space available within a grocery-anchored shopping center.
      805-811 S Centerville Rd, Sturgis, MI
      View Details
    • Contact for pricing

      Retail Space in Sturgis Plaza

      Retail space available in a grocery-anchored shopping center.
      South Centerville Rd, Sturgis, MI
      View Details
    • Contact for pricing

      Retail Endcap Suite in Sturgis

      Retail suite in high-traffic area near major retailers.
      1139 S Centerville Rd, Sturgis, MI 49091
      View Details
    • Contact for pricing

      Retail Space on US-12 Corridor

      Retail space in a well-located strip center on US-12.
      26543 US-12, Sturgis, MI 49091
      View Details
    • Contact for pricing

      Warehouse/Manufacturing Suites Available

      Flexible warehouse and manufacturing suites available for lease.
      210 Broadus St, Sturgis, MI 49091
      View Details

    FAQs

    What type of property is this?
    Retail property - Retail property with drive-thru, high visibility, and ample parking.
    Where is this retail property located?
    The property is located at 102 N Centerville Rd Sturgis, MI.
    What is the lease rate?
    The lease rate is $11 SF/Yr.
    What are key features of this property?
    This property features: Excellent visibility with frontage and signage along Centerville St and W Chicago Rd; Situated along a strong retail corridor and surrounded by national retailers; Positioned at a signalized intersection
    (248) 702-0280 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Deno Bistolarides
    Deno Bistolarides
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!