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5884 Morgan Road, Battle Creek, MI 49037
1344 Sq/Ft commercial space with new finishes and ample parking.
Property Size1,344 SF
Price / SF$171.06
Days on Market181
Property Features for 5884 Morgan Road
General Information
Standard status
Active
Size
1,344 SF
Total Parking Spaces
9
Property subtype
Office, Retail
Zoning
Commercial
Building Details
Year Built
1960
Buildings
1
Units
1
Listing Agency:
BHHS Michigan Real Estate-Rochester Hills
Listed By:
William Coats · License #8329625
Source:
Crexi
Added: Feb 21
Changed: Aug 8
Last Checked: Aug 19 at 7:10AM
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 BHHS Michigan Real Estate-Rochester Hills
Investment Insights
Based on property information with market context.
This 1344 square foot commercial space is suitable for either professional office or retail use. The property features new finishes, recessed lighting, and a versatile layout. The exterior requires low maintenance, and ample parking is available.
Key Highlights
- Tasteful new finishes and updated features throughout the 1344 Sq/Ft commercial space.
- Versatile layout suitable for professional office or retail use.
- Ample parking available.
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
$14,806
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
6.44%
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%
$296,120
$296.1K
Cap Rate 7%
$211,514
$211.5K
Cap Rate 9%
$164,511
$164.5K
Market Conditions
NOI Build-Up for 1,344 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
$22.9K $17.04/SF
− Vacancy
−$3.2K −$2.35/SF
EGI
$19.7K $14.69/SF
− OpEx
−$4.9K −$3.67/SF
NOI
$14.8K $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%
$296,120
Cap Rate 7%
$211,514
Cap Rate 9%
$164,511
Alternative Uses
Best Use
Office B
$211.5K
$185.1K – $246.8K
NOI $14,806 @ 7.0% cap · market cap 6.44%
Second Best
Retail
$199.3K
$174.4K – $232.5K
NOI $13,952 @ 7.0% cap · market cap 6.07%
Theoretical Best
Healthcare Medical
$15.94M
$13.95M – $18.60M
NOI $1,116,011 @ 7.0% cap · market cap 485.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
66
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 - 1344 Sq/Ft commercial space with new finishes and ample parking.
Where is this office units located?
The property is located at 5884 Morgan Road Battle Creek, MI.
What is the asking price?
The asking price for this property is $229,900.
What are key features of this property?
This property features: Tasteful new finishes and updated features throughout the 1344 Sq/Ft commercial space.; Versatile layout suitable for professional office or retail use.; Ample parking available.
