Retail Storefront with
For Sale
$475,000
3301 W Michigan Avenue, Battle Creek, MI 49037
COMMERCIAL - Battle Creek, MI
Property Size2,765 SF
Lot Size1.56 Acres
Price / SF$171.79
Days on Market280
Property Features for 3301 W Michigan Avenue
General Information
Property type
Commercial Sale
Property subtype
Retail
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Parking
50
Elementary school district
Battle Creek
Middle school district
Battle Creek
High school district
Battle Creek
Subdivision
Battle Creek - B
Standard status
Active
APN
04-029-006-04
Size
2,765 SF
Lot size
1.56 Acres
Taxes and HOA fees
Tax Year
2023
Tax Description
See documents for legal description
Tax Annual Amount
5383
Legal Description
See documents for legal description
Utilities
Utilities
Cable Available
Sewer type
Septic Tank
Heating system
Forced Air
Cooling system
Central Air
Water source
Well
Building Details
Year built
1978
Number of units
1
Building materials
Wood Siding
Roof type
Composition
Listing Agency:
RE/MAX Perrett Associates
(269) 968-6101
Listed By:
Chip B Spranger · License #6501217484
(269) 968-6101
Added: Nov 3, 2025
Changed: Aug 4
Last Checked: Aug 10 at 5:06AM
MLS# 25056372
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 retail storefront was formerly operated as a pizza parlor and offers approximately 2,765 square feet of space for a new concept or relocation. The property includes parking for more than 50 cars, supporting customer access and day-to-day operations.
The site is located on W Michigan Avenue in Battle Creek, MI, with road frontage and convenient proximity to Urbandale, Augusta, and Richland.
As listed, the property sits on approximately 1.56 acres and is available for sale. For details on the current layout and viewing arrangements, contact the listing broker.
The site is located on W Michigan Avenue in Battle Creek, MI, with road frontage and convenient proximity to Urbandale, Augusta, and Richland.
As listed, the property sits on approximately 1.56 acres and is available for sale. For details on the current layout and viewing arrangements, contact the listing broker.
Key Highlights
- High‑traffic location with great road frontage, formerly a well‑known pizza parlor.
- Large parking area with space for over 50 cars.
- Spacious building with almost 3,000 sqft of space.
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
$28,703
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
6.04%
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%
$574,060
$574.1K
Cap Rate 7%
$410,043
$410.0K
Cap Rate 9%
$318,922
$318.9K
Market Conditions
NOI Build-Up for 2,765 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
$42.8K $15.48/SF
− Vacancy
−$1.8K −$0.65/SF
EGI
$41.0K $14.83/SF
− OpEx
−$12.3K −$4.45/SF
NOI
$28.7K $10.38/SF
Area
Calhoun County, MI
Vacancy
4.20%
Lease Rate
$15.48 /SF/Yr
Expense Ratio
30.00%
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%
$574,060
Cap Rate 7%
$410,043
Cap Rate 9%
$318,922
Alternative Uses
Best Use
Retail
$410.0K
$358.8K – $478.4K
NOI $28,703 @ 7.0% cap · market cap 6.04%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$32.80M
$28.70M – $38.27M
NOI $2,295,959 @ 7.0% cap · market cap 483.36%
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
74
Businesses Nearby
27k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 74%
Shops & Services 26%
McDonald's
Dining
19,590 visits/mo
0.5 miles
Family Dollar
Shops & Services
3,570 visits/mo
0.1 miles
BP
Shops & Services
3,406 visits/mo
0.1 miles
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 Retail 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?
Storefront property - Former pizza parlor space with road frontage and parking for more than 50 cars.
Where is this storefront property located?
The property is located at 3301 W Michigan Avenue Battle Creek, MI.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: High‑traffic location with great road frontage, formerly a well‑known pizza parlor.; Large parking area with space for over 50 cars.; Spacious building with almost 3,000 sqft of space.
