Freestanding Bank Branch with
215 N 20th St Springfield, MI 49037
215 N 20th St, Springfield, MI, 49037
$375,000
For Sale
$375,000
Freestanding bank building with a four-lane drive-thru, suited for retail, office, medical, service, or redevelopment.
Property Size2,987 SF
Lot Size0.86 Acres
Price / SF$125.54
Days on Market49
Property Features for 215 N 20th St
General Information
- Standard status
- Active
- Size
- 2,987 SF
- Lot size
- 0.86 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1964
Listing agency
NAI Wisinski of West Michigan
(269) 353-0311
Listed by
Jodi K Milks · License #6506044331
Source
Elliman
Added: Jun 3 Updated: Jul 10 at 3:59PM Checked: Jul 21 at 5:14AM
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.
The property is a freestanding former bank branch totaling 2,987 SF on 0.86 acres in Springfield, Michigan. An additional 1,200 SF four-lane drive-thru supports convenient customer access and flexible service layouts. The offering is positioned for a range of uses, including retail, office, medical, service, or redevelopment, depending on tenant or buyer requirements.
The building is located on N 20th Street with convenient access to W Dickman Road and W Columbia Avenue. The property sits between established industrial, automotive, and retail corridors, supporting connectivity throughout the Battle Creek market. The site is zoned B-2 General Commercial.
For users seeking a freestanding, drive-thru-capable site, this configuration can accommodate a variety of front-facing commercial and appointment-based needs, subject to zoning and intended program. For investors or owner-users considering redevelopment, the combination of the existing branch building and drive-thru footprint offers a platform for re-tenanting or adapting the site to a new commercial concept. Availability is noted for September 2026.
The building is located on N 20th Street with convenient access to W Dickman Road and W Columbia Avenue. The property sits between established industrial, automotive, and retail corridors, supporting connectivity throughout the Battle Creek market. The site is zoned B-2 General Commercial.
For users seeking a freestanding, drive-thru-capable site, this configuration can accommodate a variety of front-facing commercial and appointment-based needs, subject to zoning and intended program. For investors or owner-users considering redevelopment, the combination of the existing branch building and drive-thru footprint offers a platform for re-tenanting or adapting the site to a new commercial concept. Availability is noted for September 2026.
Key Highlights
- Freestanding former bank branch building totaling 2,987 SF on 0.86 acres in Springfield, MI
- Includes an additional 1,200 SF four‑lane drive‑thru
- Zoned B‑2 General Commercial
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $46.2k | $15.48 |
| − Vacancy | −$1.9k | −$0.65 |
| EGI | $44.3k | $14.83 |
| − OpEx | −$11.1k | −$3.71 |
| NOI | $33.2k | $11.12 |
2,987 SF · lease $15.48/SF/yr · vacancy 4.20% · expense 25.00%
Alternative Uses
Best Use
Healthcare Medical
$35.43M
$31.00M – $41.34M
NOI $2,480,300 @ 7.0% cap · market cap 661.41%
Second Best
Specialty Retail
$474.6K
$415.3K – $553.7K
NOI $33,223 @ 7.0% cap · market cap 8.86%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Banks
Similar For Sale Nearby
FAQs
What type of property is this?
Bank - Freestanding bank building with a four-lane drive-thru, suited for retail, office, medical, service, or redevelopment.
Where is this bank located?
The property is located at 215 N 20th St Springfield, 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: Freestanding former bank branch building totaling 2,987 SF on 0.86 acres in Springfield, MI; Includes an additional 1,200 SF four‑lane drive‑thru; Zoned B‑2 General Commercial
