B-2 Commercial Redevelopment
For Sale
$700,000
2100 W Dickman Road, Springfield, MI 49037
Corner commercial property with existing office and warehouse improvements, paved parking, signage, and access from two roads.
Property Size4,544 SF
Days on Market40
Property Features for 2100 W Dickman Road
General Information
Standard status
Active
Size
4,544 SF
Property subtype
Commercial
Zoning
B-3
Taxes and HOA fees
Annual Taxes
$12,724
Building Details
Building Size
4,544 SF
Year Built
1997
Buildings
2
Stories
1
Units
2
Listing Agency:
NAI Wisinski of West Michigan
(269) 353-0311
Listed By:
Jodi K Milks · License #6506044331
Source:
Buyatthelake
Added: Jul 23
Changed: Aug 29
Last Checked: Aug 30 at 5:41PM
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 NAI Wisinski of West Michigan
Investment Insights
Based on property information with market context.
This B-2 General Commercial property comprises approximately 3.15 acres across four parcels at a signalized? corner? No signalized unsupported. Located at the northwest corner of W. Dickman Road and N. 20th Street, the site includes a 3,200 SF office building and a 1,344 SF warehouse constructed in 1997. The warehouse has two exterior overhead doors measuring 8ft and 12ft, while the broader property provides a large paved parking field and LED lighting.
The property is positioned along W. Dickman Road in an established commercial corridor and can be entered from both W. Dickman Road and N. 20th Street. Pylon and building signage are available on the site. Zoned B-2 General Commercial District in the City of Springfield, the offering combines substantial land area with existing commercial improvements and redevelopment flexibility.
The property is positioned along W. Dickman Road in an established commercial corridor and can be entered from both W. Dickman Road and N. 20th Street. Pylon and building signage are available on the site. Zoned B-2 General Commercial District in the City of Springfield, the offering combines substantial land area with existing commercial improvements and redevelopment flexibility.
Key Highlights
- Approximately 3.15 acres across four parcels
- 3,200 SF office building plus 1,344 SF warehouse
- Warehouse includes two exterior overhead doors: 8ft and 12ft
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
$50,058
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
7.15%
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%
$1,001,160
$1.0M
Cap Rate 7%
$715,114
$715.1K
Cap Rate 9%
$556,200
$556.2K
Market Conditions
NOI Build-Up for 4,544 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
$77.4K $17.04/SF
− Vacancy
−$10.7K −$2.35/SF
EGI
$66.7K $14.69/SF
− OpEx
−$16.7K −$3.67/SF
NOI
$50.1K $11.02/SF
Area
Calhoun County, MI
Vacancy
13.80%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
25.00%
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%
$1,001,160
Cap Rate 7%
$715,114
Cap Rate 9%
$556,200
Alternative Uses
Best Use
Office B
$715.1K
$625.7K – $834.3K
NOI $50,058 @ 7.0% cap · market cap 7.15%
Second Best
Warehouse
$487.5K
$426.6K – $568.8K
NOI $34,126 @ 7.0% cap · market cap 4.88%
Theoretical Best
Healthcare Medical
$53.90M
$47.16M – $62.89M
NOI $3,773,179 @ 7.0% cap · market cap 539.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
255
Businesses Nearby
Explore this area
Business Placement
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 Office 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?
Commercial land - Corner commercial property with existing office and warehouse improvements, paved parking, signage, and access from two roads.
Where is this commercial land located?
The property is located at 2100 W Dickman Road Springfield, MI.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: Approximately 3.15 acres across four parcels; 3,200 SF office building plus 1,344 SF warehouse; Warehouse includes two exterior overhead doors: 8ft and 12ft
