Renovated Retail/Dispensary Site For
For Sale
Contact for pricing
537 W Columbia Ave, Battle Creek, MI 49015
Renovated retail or dispensary site with high traffic.
Property Size1,900 SF
Price / SF$262.63
Days on Market186
Property Features for 537 W Columbia Ave
General Information
Standard status
Active
Size
1,900 SF
Property subtype
Retail
Zoning
Commercial
Building Details
Year Renovated
2020
Buildings
1
Stories
1
Units
1
Listing Agency:
Michigan Cannabis Properties
Listed By:
Elijah Simkins · License #MI
Source:
Crexi
Added: Feb 16
Changed: Aug 8
Last Checked: Aug 20 at 2:30PM
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 Michigan Cannabis Properties
Investment Insights
Based on property information with market context.
This renovated site is suitable for a retail location or dispensary. The property benefits from a daily traffic count exceeding 17,000. Situated in downtown Battle Creek, the location offers accessibility for both pedestrian and vehicular traffic. The purchase includes the real estate and FF&Es. The property size is 1900 square feet.
Key Highlights
- High traffic location with over 17,000 daily traffic count.
- Recently renovated, suitable for retail or dispensary.
- Includes real estate and virtually all FF&E.
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
$19,724
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
3.95%
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%
$394,480
$394.5K
Cap Rate 7%
$281,771
$281.8K
Cap Rate 9%
$219,156
$219.2K
Market Conditions
NOI Build-Up for 1,900 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
$29.4K $15.48/SF
− Vacancy
−$1.2K −$0.65/SF
EGI
$28.2K $14.83/SF
− OpEx
−$8.5K −$4.45/SF
NOI
$19.7K $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%
$394,480
Cap Rate 7%
$281,771
Cap Rate 9%
$219,156
Alternative Uses
Best Use
Retail
$281.8K
$246.6K – $328.7K
NOI $19,724 @ 7.0% cap · market cap 3.95%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$22.54M
$19.72M – $26.29M
NOI $1,577,694 @ 7.0% cap · market cap 316.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
539
Businesses Nearby
101k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 56%
Shops & Services 29%
Groceries 13%
Electronics 2%
McDonald's
Dining
31,904 visits/mo
0.3 miles
Shell
Shops & Services
15,653 visits/mo
0.5 miles
Aldi
Groceries
12,786 visits/mo
0.3 miles
Wendy's
Dining
10,255 visits/mo
0.5 miles
Speedway
Shops & Services
10,162 visits/mo
0.1 miles
Demographics for 49015, MI
28,008
Population
12,522
Households
2.2
Avg Household Size
40
Median Age
28%
College-Educated
91%
High-School Grad
27.2 sq mi
ZIP Area
1,030
Density / Sq Mi
$67,719
Median Household Income
$39,900
Median Earnings
$980
Median Rent
$171,000
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Renovated retail or dispensary site with high traffic.
Where is this retail space located?
The property is located at 537 W Columbia Ave Battle Creek, MI.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: High traffic location with over 17,000 daily traffic count.; Recently renovated, suitable for retail or dispensary.; Includes real estate and virtually all FF&E.
