Hardware Store on Dickman
For Sale
$1,390,000
1583 W Dickman Road, Springfield, MI 49037
Hardware store with equipment and inventory included for immediate income.
Property Size12,224 SF
Price / SF$113.71
Days on Market162
Property Features for 1583 W Dickman Road
General Information
Standard status
Active
Size
12,224 SF
Property subtype
Industrial
Amenities
3
Metal
Building Details
Year Built
2007
Listing Agency:
RE/MAX Perrett Associates
(269) 968-6101
Listed By:
Chip Spranger · License #6501217484
Source:
Xome
Added: Mar 15
Changed: Aug 23
Last Checked: Aug 22 at 8:40AM
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 RE/MAX Perrett Associates
Investment Insights
Based on property information with market context.
This hardware store is located on Dickman Road in Springfield. The location benefits from a high traffic count. The sale includes all equipment and inventory, providing immediate income potential. The store offers a variety of services, including propane gas sales, window and screen repair, U-Haul truck and trailer rental, hydraulic hose assembly, home paint, and gun exchanges.
Key Highlights
- Immediate income potential with included equipment and inventory.
- High‑traffic location on Dickman Rd in Springfield.
- Diverse revenue streams: propane, repairs, rentals, paint, gun exchanges.
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
$126,896
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
9.13%
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%
$2,537,920
$2.5M
Cap Rate 7%
$1,812,800
$1.8M
Cap Rate 9%
$1,409,956
$1.4M
Market Conditions
NOI Build-Up for 12,224 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
$189.2K $15.48/SF
− Vacancy
−$7.9K −$0.65/SF
EGI
$181.3K $14.83/SF
− OpEx
−$54.4K −$4.45/SF
NOI
$126.9K $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%
$2,537,920
Cap Rate 7%
$1,812,800
Cap Rate 9%
$1,409,956
Alternative Uses
Best Use
Retail
$1.81M
$1.59M – $2.11M
NOI $126,896 @ 7.0% cap · market cap 9.13%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$145.01M
$126.88M – $169.17M
NOI $10,150,382 @ 7.0% cap · market cap 730.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
237
Businesses Nearby
20k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Sunoco
Shops & Services
5,809 visits/mo
0.2 miles
Marathon
Shops & Services
4,722 visits/mo
0.0 miles
Springfield Do It Center
Shops & Services
2,813 visits/mo
0.2 miles
Sunshine Toyota
Shops & Services
2,328 visits/mo
0.3 miles
Comerica Bank
Shops & Services
2,081 visits/mo
0.5 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
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Frequently Asked Questions
What type of property is this?
Storefront property - Hardware store with equipment and inventory included for immediate income.
Where is this storefront property located?
The property is located at 1583 W Dickman Road Springfield, MI.
What is the asking price?
The asking price for this property is $1,390,000.
What are key features of this property?
This property features: Immediate income potential with included equipment and inventory.; High‑traffic location on Dickman Rd in Springfield.; Diverse revenue streams: propane, repairs, rentals, paint, gun exchanges.
