Office Building with Full
For Sale
$194,900
2963 W Dickman Road, Springfield, MI 49037
Professional office property with flexible workspace, added storage, shared restroom, and on-site parking.
Property Size1,128 SF
Days on Market28
Property Features for 2963 W Dickman Road
General Information
Standard status
Active
Size
1,128 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$3,267
Building Details
Building Size
1,128 SF
Year Built
1930
Buildings
1
Stories
1128
Units
1
Listing Agency:
EB Realty LLC
(269) 420-6868
Listed By:
Eric Blair · License #6502431108
Source:
Erareardonrealty
Added: Aug 4
Changed: Aug 29
Last Checked: Aug 30 at 5:39PM
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 1,000+ square foot office building at 2963 W Dickman Road provides a practical layout for professional or service-oriented operations. The property includes a full basement that can support storage or additional workspace, a shared restroom, and an updated roof installed in September 2025. Originally constructed in 1930, the building was previously used as a chiropractic office.
Frontage along three streets creates multiple access points at the Dickman Road location, near the Helmer Road intersection. On-site parking accommodates customers and staff, while the property's position along Dickman Road places it within a high-traffic commercial setting. The existing configuration offers a straightforward base for an office user seeking a visible Springfield location.
Frontage along three streets creates multiple access points at the Dickman Road location, near the Helmer Road intersection. On-site parking accommodates customers and staff, while the property's position along Dickman Road places it within a high-traffic commercial setting. The existing configuration offers a straightforward base for an office user seeking a visible Springfield location.
Key Highlights
- 1,000+ square foot office building
- Full basement for storage or additional workspace
- Frontage on three streets near the Helmer Road intersection
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
$12,426
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
6.38%
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%
$248,520
$248.5K
Cap Rate 7%
$177,514
$177.5K
Cap Rate 9%
$138,067
$138.1K
Market Conditions
NOI Build-Up for 1,128 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
$19.2K $17.04/SF
− Vacancy
−$2.7K −$2.35/SF
EGI
$16.6K $14.69/SF
− OpEx
−$4.1K −$3.67/SF
NOI
$12.4K $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%
$248,520
Cap Rate 7%
$177,514
Cap Rate 9%
$138,067
Alternative Uses
Best Use
Healthcare Medical
$13.38M
$11.71M – $15.61M
NOI $936,652 @ 7.0% cap · market cap 480.58%
Second Best
Office B
$177.5K
$155.3K – $207.1K
NOI $12,426 @ 7.0% cap · market cap 6.38%
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 building - Professional office property with flexible workspace, added storage, shared restroom, and on-site parking.
Where is this office building located?
The property is located at 2963 W Dickman Road 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: 1,000+ square foot office building; Full basement for storage or additional workspace; Frontage on three streets near the Helmer Road intersection
