Freestanding Bank Building with
For Sale
$375,000
215 N 20th Street, Battle Creek, MI 49037
Commercial Sale, Battle Creek, MI
Property Size2,987 SF
Lot Size0.86 Acres
Price / SF$125.54
Days on Market96
Property Features for 215 N 20th Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
B-2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Interior features
Broadband
Elementary school district
Battle Creek
Middle school district
Battle Creek
High school district
Battle Creek
Standard status
Active
APN
54-270-001-00
Size
2,987 SF
Lot size
0.86 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
SP CITY, WEST LAWN, BLK 1, LOTS 4 & 5, N 35 FT LOT 13, ALL LOTS 14, 15 & 16.
Tax Annual Amount
11588
Legal Description
SP CITY, WEST LAWN, BLK 1, LOTS 4 & 5, N 35 FT LOT 13, ALL LOTS 14, 15 & 16.
Utilities
Utilities
Phone Available
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1964
Floors in Building
1
Number of units
1
Building materials
Aluminum Siding, Brick
Roof type
Composition
Listing Agency:
NAI Wisinski of West Michigan
(269) 353-0311
Listed By:
Jodi K Milks · License #6506044331
(269) 459-0439
Added: Jun 2
Changed: Sep 3
Last Checked: Sep 5 at 8:06PM
MLS# 26026398
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 freestanding former bank branch offers 2,987 square feet on a 0.86-acre parcel, along with an additional 1,200-square-foot, four-lane drive-through. Built in 1964, the building includes two bathrooms and features forced-air heat, central air, aluminum siding, brick construction, and a composition roof. Broadband and phone service are available.
Positioned at 215 N 20th Street in Battle Creek, the property provides access to W Dickman Road and W Columbia Avenue. Its B-2 General Commercial zoning and existing improvements support consideration for retail, office, medical, service, or redevelopment applications. The property is available September 2026.
Positioned at 215 N 20th Street in Battle Creek, the property provides access to W Dickman Road and W Columbia Avenue. Its B-2 General Commercial zoning and existing improvements support consideration for retail, office, medical, service, or redevelopment applications. The property is available September 2026.
Key Highlights
- 2,987 SF freestanding former bank branch on 0.86 acres
- Additional 1,200 SF four‑lane drive‑through
- B‑2 General Commercial zoning
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
252
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?
Bank - The property combines a standalone commercial building with a separate drive-through facility.
Where is this bank located?
The property is located at 215 N 20th Street 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 on 0.86 acres; Additional 1,200 SF four‑lane drive‑through; B‑2 General Commercial zoning
