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

    1583 Capital Ave NE Battle Creek, MI 49017

    View on Map
    Loading data...
    Loading data...
    Loading data...
    Pending
    $3,300,000

    Retail property for sale in a busy shopping center.

    Lot size:
    3.42 Acres

    Property Features for 1583 Capital Ave NE

    General Information

    Property type
    Commercial
    Standard status
    Pending
    Lot size
    3.42 Acres

    Building Details

    Year built
    1986

    We can help!

    Listing Contact
    Charles Cherney
    Source: Elliman

    Listing Agency: Cherney Realty Advisors Listing Agent: Charles Cherney

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

    Learn more

    Overview

    Retail Space in Pennfield Plaza

    This property comprises the southern 42,837 square feet of the 93,855 square foot Capital Square/Pennfield Plaza shopping center, situated on M-66/Capital Avenue NE. The location benefits from high traffic volume, with over 15,000 vehicles per day on M-66. Anchored by tenants such as Family Fare, ACE Hardware, RAC, Dollar Tree, Nova Care, MeMaw's Merchandise, H & R Block, and McGonigle's Deli, the center features tenants with a history of lease renewals. The property is located adjacent to a complex with over 250 apartment units and is in close proximity to the Bailey Park sports complex. A 2,500 square foot basement with two restrooms is located beneath the 3,700 square foot restaurant unit.
    Location Intelligence

    Current Use by Public Records

    Pawfect impressions (Bike/Boat/Book/etc) Store

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center Pharmacy

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

    Similar Places Nearby

    BC Cargo Marketplace

    Location Insight

    • Map
    • Local Demand
    City
    Battle Creek
    County
    Calhoun
    State
    Michigan
    Longitude
    -85.154058
    Latitude
    42.346238

    Nearby Similar for Sale

    • $480,000
      4,880 SF

      Battle Creek Commercial Property For Sale

      Commercial property on a high-traffic street near major developments.
      510 E Columbia Ave, Battle Creek, MI 49014
      View Details
    • New
      $250,000
      1,344 SF

      Battle Creek Commercial Space For Sale

      Updated 1344 SF commercial space with ample parking.
      5884 Morgan Rd, Battle Creek, MI 49037
      View Details
    • $600,000
      12,000 SF

      Battle Creek Retail/Warehouse Opportunity

      12,000 sq ft retail/warehouse on 2 acres in Battle Creek.
      4343 W Columbia Ave, Battle Creek, MI 49015
      View Details
    • $599,900
      10,756 SF

      Battle Creek Commercial Opportunity

      Commercial property on Michigan Ave with two metal buildings.
      750 Michigan Ave, Battle Creek, MI 49037
      View Details
    • $75,000
      1,100 SF

      Battle Creek Commercial Opportunity

      Versatile property with ample parking and updated features.
      156 Roseneath Ave, Battle Creek, MI 49017
      View Details
    • $225,000
      785 SF

      Turnkey Restaurant in Lakeview, MI

      Well-maintained restaurant with recent updates in high-traffic area.
      9743 N Greenville Rd, Lakeview, MI 48850
      View Details
    • $2,075,000
      32,105 SF

      Battle Creek Automotive Dealership Opportunity

      Expansive 32,000 SF commercial building on 7.5 acres.
      995 W Columbia Ave, Battle Creek, MI 49015
      View Details
    • $2,200,000
      14,400 SF

      Turnkey Ambulatory Surgery Center Opportunity

      Turnkey Ambulatory Surgery Center in Battle Creek, Michigan for sale.
      3770 Capital Ave SW, Battle Creek, MI 49015
      View Details
    • $435,000
      4,840 SF

      Lakeview Commercial Building with Expansion

      Commercial building with expansion potential in a growing village location.
      223 W North St, Lakeview, MI 48850
      View Details
    • $450,000
      3,690 SF

      Battle Creek Restaurant and Lounge

      Turnkey restaurant and lounge in Battle Creek, Michigan for sale.
      883 North Ave, Battle Creek, MI 49017
      View Details
    • $399,000
      6,103 SF

      Battle Creek Commercial Property For Sale

      Commercial property with high ratings and new roofs in Battle Creek.
      21995 Bedford Rd N, Battle Creek, MI 49017
      View Details
    • $299,000
      10,148 SF

      Downtown Battle Creek Mixed-Use Building

      Two-story building in downtown Battle Creek suitable for various uses.
      56 E Michigan Ave, Battle Creek, MI 49017
      View Details

    FAQs

    What type of property is this?
    Shopping center - Retail property for sale in a busy shopping center.
    Where is this shopping center located?
    The property is located at 1583 Capital Ave NE Battle Creek, MI.
    What is the asking price?
    The asking price for this property is $3,300,000.
    What are key features of this property?
    This property features: - High traffic location with over 15,000 vehicles per day (VPD) on M-66 / Capital Avenue NE.; - Anchored by established tenants including Family Fare, ACE Hardware, and Dollar Tree, with repeated lease renewals.; - Proximity to residential and recreational areas, adjacent to a 250+ unit apartment complex and close to Bailey Park sports complex.
    (269) 420-1347
    Request Owner's contact information
    1583 Capital Ave NE Battle Creek, MI 49017
    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.
    1583 Capital Ave NE
    Battle Creek, MI 49017
    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
    1583 Capital Ave NE Battle Creek, MI 49017
    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

    We can help!
    Listing Contact
    Charles Cherney
    Real Estate License ID: 6502109268
    (269) 420-1347 (269) 962-1047
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!