High-Visibility Office Space on
For Sale
$194,900
2963 W Dickman Rd, Springfield, MI 49037
Commercial property on Dickman Road, suitable for various businesses.
Property Size1,000 SF
Lot Size0.42 Acres
Price / SF$194.90
Days on Market150
Property Features for 2963 W Dickman Rd
General Information
Standard status
Active
Size
1,000 SF
Lot size
0.42 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$3,267
Building Details
Year Built
1930
Units
1
Listing Agency:
EB Realty LLC
(269) 420-6868
Listed By:
Eric Blair · License #6502431108
(269) 420-6868
Source:
Elliman
Added: Mar 24
Changed: Aug 8
Last Checked: Aug 20 at 7:16AM
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 EB Realty LLC
Investment Insights
Based on property information with market context.
This commercial property is located on Dickman Road, near the Helmer Road intersection, and features frontage on three streets. The office building offers over 1,000 square feet of space and includes a full basement suitable for additional storage or workspace. The property also includes a shared restroom. A new roof is planned for September 2025. Previously used as a chiropractic office, the space is suitable for a variety of professional or service-based businesses. The property benefits from high traffic counts on Dickman Road, providing excellent exposure, and offers on-site parking for customers and staff.
Key Highlights
- High‑visibility location on Dickman Road with frontage on three streets.
- Option to purchase or lease.
- High traffic counts for excellent exposure.
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
$11,016
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
5.65%
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%
$220,320
$220.3K
Cap Rate 7%
$157,371
$157.4K
Cap Rate 9%
$122,400
$122.4K
Market Conditions
NOI Build-Up for 1,000 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
$17.0K $17.04/SF
− Vacancy
−$2.4K −$2.35/SF
EGI
$14.7K $14.69/SF
− OpEx
−$3.7K −$3.67/SF
NOI
$11.0K $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%
$220,320
Cap Rate 7%
$157,371
Cap Rate 9%
$122,400
Alternative Uses
Best Use
Healthcare Medical
$11.86M
$10.38M – $13.84M
NOI $830,365 @ 7.0% cap · market cap 426.05%
Second Best
Office B
$157.4K
$137.7K – $183.6K
NOI $11,016 @ 7.0% cap · market cap 5.65%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
190
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?
Office units - Commercial property on Dickman Road, suitable for various businesses.
Where is this office units located?
The property is located at 2963 W Dickman Rd Springfield, MI.
What is the asking price?
The asking price for this property is $194,900.
What are key features of this property?
This property features: High‑visibility location on Dickman Road with frontage on three streets.; Option to purchase or lease.; High traffic counts for excellent exposure.
