Office Building with
New
For Sale
$208,000
290 N 30th Street, Springfield, MI 49037
Commercial Sale, Springfield, MI
Property Size1,556 SF
Lot Size0.22 Acres
Price / SF$133.68
Days on Market6
Property Features for 290 N 30th Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
IRT
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
Directions
North on Helmer to Dickman Rd turn east on Dickman Rd and property is on the North side of Dickman Rd.
Standard status
Active
APN
54-080-022-00
Size
1,556 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
SP CITY, EDGEWOOD, BLK 9, W 17 FT OF LOT 16, LOT 17 & S 1/2 OF VACATED CRESTWOOD ST ADJ TO SD LOTS
Tax Annual Amount
4240
Legal Description
SP CITY, EDGEWOOD, BLK 9, W 17 FT OF LOT 16, LOT 17 & S 1/2 OF VACATED CRESTWOOD ST ADJ TO SD LOTS
Utilities
Utilities
Cable Available
Heating system
Forced Air
Cooling system
Central Air
Amenities
garage
heated storage
fenced yard
ample parking
Building Details
Year built
1952
Number of units
1
Building materials
Vinyl Siding
Roof type
Composition
Listing Agency:
Pearse Realty, Inc.
(269) 962-6167
Listed By:
Scott Keith Hisler · License #6501381876
(269) 274-2234
Added: Sep 15
Last Checked: Sep 20 at 2:06AM
MLS# 26049144
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 1,556-square-foot office building offers a flexible arrangement with two suites near the primary entrance and a larger suite accessed separately. The main office area includes a reception or waiting space and a full bathroom, while the property also provides a second bathroom. A garage, heated storage area, fenced yard, and parking support a range of office and service-oriented uses. Built in 1952, the building features vinyl siding, forced-air heat, central air, a composition roof, and cable availability. Broadband is also listed among the interior features.
The 0.22-acre site is located at 290 N 30th Street in Springfield, Michigan, with two points of entry serving the property. Its existing layout includes distinct work areas and practical support spaces that can accommodate continued office use or other compatible commercial operations.
The 0.22-acre site is located at 290 N 30th Street in Springfield, Michigan, with two points of entry serving the property. Its existing layout includes distinct work areas and practical support spaces that can accommodate continued office use or other compatible commercial operations.
Key Highlights
- 1,556‑square‑foot office building on a 0.22‑acre site
- Three‑suite layout with two entrances
- Main suite includes a waiting area and full bathroom
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
$17,141
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
8.24%
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%
$342,820
$342.8K
Cap Rate 7%
$244,871
$244.9K
Cap Rate 9%
$190,456
$190.5K
Market Conditions
NOI Build-Up for 1,556 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
$26.5K $17.04/SF
− Vacancy
−$3.7K −$2.35/SF
EGI
$22.9K $14.69/SF
− OpEx
−$5.7K −$3.67/SF
NOI
$17.1K $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%
$342,820
Cap Rate 7%
$244,871
Cap Rate 9%
$190,456
Alternative Uses
Best Use
Healthcare Medical
$18.46M
$16.15M – $21.53M
NOI $1,292,048 @ 7.0% cap · market cap 621.18%
Second Best
Office B
$244.9K
$214.3K – $285.7K
NOI $17,141 @ 7.0% cap · market cap 8.24%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Office units
Location Intelligence
Trade Area within ½ mile
220
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office building - Flexible office property with multiple suites, dedicated entrances, parking, and secured outdoor storage.
Where is this office building located?
The property is located at 290 N 30th Street Springfield, MI.
What is the asking price?
The asking price for this property is $208,000.
What are key features of this property?
This property features: 1,556‑square‑foot office building on a 0.22‑acre site; Three‑suite layout with two entrances; Main suite includes a waiting area and full bathroom
