Medical Office with
For Sale
$194,900
2963 W Dickman Road, Springfield, MI 49037
COMMERCIAL - Springfield, MI
Property Size1,128 SF
Lot Size0.42 Acres
Price / SF$172.78
Days on Market155
Property Features for 2963 W Dickman Road
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
IRT
Bathrooms
1
Full bathrooms
1
Rooms
Basement, Bathroom 1
Elementary school district
Battle Creek
Middle school district
Battle Creek
High school district
Battle Creek
Directions
Helmer Rd to East on Dickman Rd
Standard status
Active
APN
54-080-035-00
Size
1,128 SF
Lot size
0.42 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
SP CITY, EDGEWOOD, W 1/2 OF LOT 12, LOTS 13, 14 & 15, BLK 11. *** TIFA-B 86 SEV 12,400 ***
Tax Annual Amount
3267
Legal Description
SP CITY, EDGEWOOD, W 1/2 OF LOT 12, LOTS 13, 14 & 15, BLK 11. *** TIFA-B 86 SEV 12,400 ***
Utilities
Utilities
Cable Available
Heating system
Forced Air
Building Details
Year built
1930
Number of units
1
Building materials
Aluminum Siding, Wood Siding
Roof type
Composition
Listing Agency:
EB Realty LLC
(269) 420-6868
Listed By:
Eric Blair · License #6502431108
(269) 420-6868
Added: Mar 20
Changed: Aug 4
Last Checked: Aug 21 at 3:06AM
MLS# 26010918
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 1,128-square-foot medical office property includes a full basement that can support storage or additional workspace, along with a shared restroom. The building dates to 1930 and features forced-air heating, aluminum and wood siding, a composition roof, and a roof replacement completed in September 2025. The space was previously used for chiropractic practice.
Located on W Dickman Road near the Helmer Road intersection in Springfield, the property has frontage on three streets and on-site parking for customers and staff. The 0.42-acre parcel also offers cable availability. Its existing office configuration and basement provide practical space for professional or service-oriented operations.
Located on W Dickman Road near the Helmer Road intersection in Springfield, the property has frontage on three streets and on-site parking for customers and staff. The 0.42-acre parcel also offers cable availability. Its existing office configuration and basement provide practical space for professional or service-oriented operations.
Key Highlights
- 1,128 SF medical office building with a full basement
- Roof replacement completed in September 2025
- Frontage on three streets near the W Dickman Road and 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
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
190
Businesses Nearby
Under-served
Demand for This Use
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?
Medical Office Space - Professional office space includes basement storage, a shared restroom, and on-site parking.
Where is this medical office space 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: 1,128 SF medical office building with a full basement; Roof replacement completed in September 2025; Frontage on three streets near the W Dickman Road and Helmer Road intersection
