Hardware Retail
For Sale
$1,390,000
1583 W Dickman Road, Springfield, MI 49037
COMMERCIAL - Springfield, MI
Property Size12,224 SF
Lot Size1.66 Acres
Price / SF$113.71
Days on Market162
Property Features for 1583 W Dickman Road
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
I-1
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Parking
18
Elementary school district
Battle Creek
Middle school district
Battle Creek
High school district
Battle Creek
Directions
E of 20th St to 1583 W Dickman Rd on South Side
Standard status
Active
APN
54-150-004-00
Size
12,224 SF
Lot size
1.66 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
Springfield City Orchard Acres 3 Los 135, 136 & ADJ Land N of SD lots to Dickman Rd
Tax Annual Amount
20133
Legal Description
Springfield City Orchard Acres 3 Los 135, 136 & ADJ Land N of SD lots to Dickman Rd
Utilities
Utilities
Cable Available
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
2007
Floors in Building
1
Number of units
1
Building materials
Metal Siding
Roof type
Metal
Listing Agency:
RE/MAX Perrett Associates
(269) 968-6101
Listed By:
Chip B Spranger · License #6501217484
(269) 968-6101
Added: Mar 17
Changed: Aug 11
Last Checked: Aug 25 at 5:06AM
MLS# 26010744
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 retail property occupies 12,224 square feet on 1.66 acres and was built in 2007. The building features metal siding, a metal roof, forced-air heating, central air conditioning, cable availability, and two bathrooms. Equipment and inventory are included with the sale.
The property is located at 1583 W Dickman Road in Springfield, Michigan. Existing operations include propane gas sales, window and screen repair, U-Haul truck and trailer rental, hydraulic hose assembly, home paint, and gun exchanges, providing a range of established retail and service functions within one commercial location.
The property is located at 1583 W Dickman Road in Springfield, Michigan. Existing operations include propane gas sales, window and screen repair, U-Haul truck and trailer rental, hydraulic hose assembly, home paint, and gun exchanges, providing a range of established retail and service functions within one commercial location.
Key Highlights
- 12,224‑square‑foot retail property on 1.66 acres
- Built in 2007 with metal siding and a metal roof
- Equipment and inventory included with the sale
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
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
203
Businesses Nearby
18k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Sunoco
Shops & Services
5,809 visits/mo
0.3 miles
Marathon
Shops & Services
4,722 visits/mo
0.2 miles
Springfield Do It Center
Shops & Services
2,813 visits/mo
0.0 miles
Sunshine Toyota
Shops & Services
2,328 visits/mo
0.1 miles
Henkel Chrysler Jeep Dodge Ram
Shops & Services
1,600 visits/mo
0.2 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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Established retail property with equipment, inventory, and multiple service offerings included.
Where is this retail space 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: 12,224‑square‑foot retail property on 1.66 acres; Built in 2007 with metal siding and a metal roof; Equipment and inventory included with the sale
