Mixed-Use Property with
For Sale
$169,000
191 MCKINLEY AVE, Battle Creek, MI 49017
Two-story residence paired with detached commercial garage and warehouse space on a double lot.
Property Size2,600 SF
Price / SF$135.42
Days on Market87
Property Features for 191 MCKINLEY AVE
General Information
Standard status
Active
Size
2,600 SF
Property subtype
Business Opportunities
Warehouse & Industrial
Clear Height
10 ft
Warehouse Space
1,700 SF
Additional Details
Utilities to Site
No
Amenities
3
Composition
100115.50
Building Details
Year Built
1920
Buildings
1
Building Size
2,600 SF
Listing Agency:
Pearse Realty, Inc.
Listed By:
Rebecca Spenelli · License #6501395920
(269) 986-6782
Source:
Xome
Added: Jun 16
Changed: Sep 9
Last Checked: Sep 9 at 3:02PM
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 Pearse Realty, Inc.
Investment Insights
Based on property information with market context.
This mixed-use property combines a 3-bedroom, 2-story house with a detached 2,600-square-foot commercial structure on a double lot. The commercial building includes a 900-square-foot garage with two 10-foot-high garage doors, a utility door, 12-foot ceilings, and a small loading dock. A separate 1,700-square-foot warehouse area provides a large open heated space with 10-foot ceilings.
Located at 191 McKinley Ave in Battle Creek, the property includes both residential and commercial improvements. The commercial space currently has no running water and is being sold as-is, with no repairs from the seller. Buyers are responsible for verifying permitted commercial uses.
Located at 191 McKinley Ave in Battle Creek, the property includes both residential and commercial improvements. The commercial space currently has no running water and is being sold as-is, with no repairs from the seller. Buyers are responsible for verifying permitted commercial uses.
Key Highlights
- 3‑bedroom, 2‑story house included
- Detached 2,600‑square‑foot commercial garage and warehouse
- 900‑square‑foot garage with two 10‑foot‑high garage doors
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
$15,500
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
9.17%
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%
$310,000
$310.0K
Cap Rate 7%
$221,429
$221.4K
Cap Rate 9%
$172,222
$172.2K
Market Conditions
NOI Build-Up for 1,248 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
$27.0K $21.60/SF
− Vacancy
−$2.2K −$1.73/SF
EGI
$24.8K $19.87/SF
− OpEx
−$9.3K −$7.45/SF
NOI
$15.5K $12.42/SF
Area
Calhoun County, MI
Vacancy
8.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
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%
$310,000
Cap Rate 7%
$221,429
Cap Rate 9%
$172,222
Alternative Uses
Best Use
Mixed Use
$221.4K
$193.8K – $258.3K
NOI $15,500 @ 7.0% cap · market cap 9.17%
Second Best
Warehouse
$133.9K
$117.2K – $156.2K
NOI $9,373 @ 7.0% cap · market cap 5.55%
Theoretical Best
Healthcare Medical
$14.80M
$12.95M – $17.27M
NOI $1,036,296 @ 7.0% cap · market cap 613.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
10 ft
Clear height
Location Intelligence
Trade Area within ½ mile
281
Businesses Nearby
Explore this area
Business Placement
Demographics for 49017, MI
21,377
Population
9,701
Households
2.2
Avg Household Size
42
Median Age
20%
College-Educated
92%
High-School Grad
56.8 sq mi
ZIP Area
376
Density / Sq Mi
$58,500
Median Household Income
$40,386
Median Earnings
$946
Median Rent
$134,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-story residence paired with detached commercial garage and warehouse space on a double lot.
Where is this mixed-use property located?
The property is located at 191 MCKINLEY AVE Battle Creek, MI.
What is the asking price?
The asking price for this property is $169,000.
What are key features of this property?
This property features: 3‑bedroom, 2‑story house included; Detached 2,600‑square‑foot commercial garage and warehouse; 900‑square‑foot garage with two 10‑foot‑high garage doors
