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    10-Acre Commercial Property Near Blue Oval Title is generated by Realmo AI

    12967 E Michigan Ave, Battle Creek, MI 49014

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    Prime commercial land near Blue Oval Battery Park in Marshall.

    Type:Land
    Property size:
    6,400 SF
    Lot size:
    10.00 Acres
    Price / SF:
    $187/SF
    Added:
    May 1, 2024
    Days on Market:
    767
    Last Refresh:
    May 12 at 8:22 pm

    Property Features for 12967 E Michigan Ave

    General Information

    Standard status
    Active
    Size
    6,400 SF
    Lot size
    10.00 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Matthew Miller

    Listing agent Matthew Miller License #MI 6501432246

    Listing office MDM Realty - Matt Miller -Pro

    Listing date May 1, 2024

    Source Crexi

    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 MDM Realty - Matt Miller -Pro

    HighLights

    • Prime Location: Situated within a mile of the Blue Oval Battery Park in Marshall, offering significant commercial potential.
    • Size and Zoning: 10‑acre property, the largest of its kind in the area, zoned for Highway Services, allowing for diverse commercial uses.
    • Extensive Road Frontage: Boasts 1400 feet of frontage on Michigan Avenue and 330 feet on 13 Mile Road, providing excellent visibility and access.
    • Existing Infrastructure: Includes a habitable two‑story dwelling, two outbuildings, and an 80 x 80 steel building with overhead doors and office space.
    • Operational Repair Facility: The steel building currently functions as an agricultural equipment repair facility, offering immediate income potential or conversion possibilities.
    • Separate Septic Systems: Both the residence and repair facility have independent septic systems, providing operational flexibility.

    Overview

    This 10-acre commercial property is located within a mile of the Blue Oval Battery Park in Marshall, at the intersection of 13 Mile and Michigan Avenue. The property features 1400 feet of road frontage on Michigan Avenue and an additional 330 feet on 13 Mile Road. Currently zoned for Highway Services, it is the largest property of its kind in the area. Permitted uses include gas stations, hotels, restaurants, office spaces, retail outlets, car lots, and various other commercial ventures. The property includes a habitable two-story dwelling currently inhabited by the owners, two outbuildings, and an 80 x 80 steel construction building. The steel building has several overhead doors and office space, and serves as an operational agricultural equipment repair facility. Both the residence and repair facility have separate septic systems. This property offers a combination of location, size, road frontage, existing infrastructure, and zoning permissions suitable for diverse development endeavors.

    Local Financial Insights For Specialty Retail

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $99.1k $15.48
    − Vacancy −$4.2k −$0.65
    EGI $94.9k $14.83
    − OpEx −$23.7k −$3.71
    NOI $71.2k $11.12
    6,400 SF · lease $15.48/SF/yr · vacancy 4.20% · expense 25.00%

    Alternative Uses

    Best Use
    Specialty Retail
    $1.02M
    $889.8K – $1.19M (±1% cap)
    NOI $71,183 @ 7.0% cap · market cap 5.93%
    Second Best
    Office B
    $1.01M
    $881.3K – $1.18M (±1% cap)
    NOI $70,505 @ 7.0% cap · market cap 5.88%
    Theoretical Best
    Healthcare Medical
    $75.92M
    $66.43M – $88.57M (±1% cap)
    NOI $5,314,336 @ 7.0% cap · market cap 442.86%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Building Supply HVAC Service Veterinary Clinic Locksmith

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

    Location Insight

    • Map
    • Local Demand
    City
    Battle Creek
    County
    Calhoun
    State
    Michigan
    Longitude
    -85.04512
    Latitude
    42.2824

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    FAQs

    What type of property is this?
    Commercial land - Prime commercial land near Blue Oval Battery Park in Marshall.
    Where is this commercial land located?
    The property is located at 12967 E Michigan Ave Battle Creek, MI.
    What is the asking price?
    The asking price for this property is $1,200,000.
    What are key features of this property?
    This property features: Prime Location: Situated within a mile of the Blue Oval Battery Park in Marshall, offering significant commercial potential.; Size and Zoning: 10‑acre property, the largest of its kind in the area, zoned for Highway Services, allowing for diverse commercial uses.; Extensive Road Frontage: Boasts 1400 feet of frontage on Michigan Avenue and 330 feet on 13 Mile Road, providing excellent visibility and access.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Matthew Miller
    Real Estate License ID: MI 6501432246
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    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
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