Freestanding Bank Branch with
For Sale
$375,000
215 N 20th St, Battle Creek, MI 49037
B-2 General Commercial property with a standalone branch building and dedicated drive-through facilities.
Property Size2,987 SF
Lot Size0.86 Acres
Price / SF$125.54
Days on Market54
Property Features for 215 N 20th St
General Information
Standard status
Active
Size
2,987 SF
Lot size
0.86 Acres
Zoning
B-2
Additional Details
Road Access
Yes
Building Details
Year Built
1964
Buildings
2
Listing Agency:
NAI Wisinski of West Michigan
(269) 353-0311
Listed By:
Jodi K Milks · License #6506044331
Source:
Katie-k
Added: Jul 10
Changed: Aug 29
Last Checked: Aug 30 at 8:52PM
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 freestanding former bank branch contains 2,987 square feet on a 0.86-acre parcel, with a separate 1,200-square-foot, four-lane drive-through. The building was constructed in 1964 and is classified B-2 General Commercial. Its existing configuration provides a foundation for continued financial-services use or conversion to retail, office, medical, service, or redevelopment applications, as supported by the zoning and physical improvements.
The property fronts N 20th Street and offers access to W Dickman Road and W Columbia Avenue. It is situated among established industrial, automotive, and retail corridors, connecting the site with multiple commercial areas. Availability is scheduled for September 2026.
The property fronts N 20th Street and offers access to W Dickman Road and W Columbia Avenue. It is situated among established industrial, automotive, and retail corridors, connecting the site with multiple commercial areas. Availability is scheduled for September 2026.
Key Highlights
- 2,987 SF freestanding former bank branch
- 0.86‑acre commercial parcel
- Additional 1,200 SF four‑lane drive‑thru
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
$33,223
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
8.86%
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%
$664,460
$664.5K
Cap Rate 7%
$474,614
$474.6K
Cap Rate 9%
$369,144
$369.1K
Market Conditions
NOI Build-Up for 2,987 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
$46.2K $15.48/SF
− Vacancy
−$1.9K −$0.65/SF
EGI
$44.3K $14.83/SF
− OpEx
−$11.1K −$3.71/SF
NOI
$33.2K $11.12/SF
Area
Calhoun County, MI
Vacancy
4.20%
Lease Rate
$15.48 /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%
$664,460
Cap Rate 7%
$474,614
Cap Rate 9%
$369,144
Alternative Uses
Best Use
Specialty Retail
$474.6K
$415.3K – $553.7K
NOI $33,223 @ 7.0% cap · market cap 8.86%
Second Best
Office B
$470.1K
$411.3K – $548.4K
NOI $32,906 @ 7.0% cap · market cap 8.77%
Theoretical Best
Healthcare Medical
$35.43M
$31.00M – $41.34M
NOI $2,480,300 @ 7.0% cap · market cap 661.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
346
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
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Frequently Asked Questions
What type of property is this?
Bank - B-2 General Commercial property with a standalone branch building and dedicated drive-through facilities.
Where is this bank located?
The property is located at 215 N 20th St Battle Creek, MI.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 2,987 SF freestanding former bank branch; 0.86‑acre commercial parcel; Additional 1,200 SF four‑lane drive‑thru
