Turnkey Modern Retail
For Sale
$445,000
625 North Avenue Unit SourceFi, Battle Creek, MI 49017
Built in 2020, this turnkey retail building sits on a 1.27-acre double lot with 125 feet of road frontage.
Property Size2,100 SF
Lot Size1.27 Acres
Price / SF$211.90
Days on Market180
Property Features for 625 North Avenue Unit SourceFi
General Information
Standard status
Active
Size
2,100 SF
Lot size
1.27 Acres
Property subtype
Industrial
Additional Details
Business Included
Yes
Amenities
3
Rubber
145347145348
Building Details
Year Built
20
Listing Agency:
Epique Realty
(248) 568-5958
Listed By:
David Elwood
(248) 568-5958
Source:
Xome
Added: Feb 10
Changed: Aug 8
Last Checked: Jul 17 at 2:14AM
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 Epique Realty
Investment Insights
Based on property information with market context.
Built in 2020, this turnkey 2,100 sq. ft. retail building offers a modern, flexible interior layout and is situated on a 1.27-acre double lot. The property is formerly home to Sicky's Battle Creek and provides land room for future growth, including potential for additional improvements such as a drive-thru window and expanded parking.
Located in Battle Creek’s retail corridor, the site is positioned across the street from Kellogg Community College. It benefits from high visibility with 125 feet of road frontage and exposure to 15,000+ vehicles daily. The immediate retail mix includes nearby tenants such as Walgreens, Dollar General, and Arby's.
Located in Battle Creek’s retail corridor, the site is positioned across the street from Kellogg Community College. It benefits from high visibility with 125 feet of road frontage and exposure to 15,000+ vehicles daily. The immediate retail mix includes nearby tenants such as Walgreens, Dollar General, and Arby's.
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
$21,800
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
4.90%
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%
$436,000
$436.0K
Cap Rate 7%
$311,429
$311.4K
Cap Rate 9%
$242,222
$242.2K
Market Conditions
NOI Build-Up for 2,100 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
$32.5K $15.48/SF
− Vacancy
−$1.4K −$0.65/SF
EGI
$31.1K $14.83/SF
− OpEx
−$9.3K −$4.45/SF
NOI
$21.8K $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%
$436,000
Cap Rate 7%
$311,429
Cap Rate 9%
$242,222
Alternative Uses
Best Use
Retail
$311.4K
$272.5K – $363.3K
NOI $21,800 @ 7.0% cap · market cap 4.90%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$24.91M
$21.80M – $29.06M
NOI $1,743,767 @ 7.0% cap · market cap 391.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
239
Businesses Nearby
41k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 47%
Dining 43%
Groceries 10%
Burger King
Dining
10,024 visits/mo
0.2 miles
Dollar Tree
Shops & Services
7,685 visits/mo
0.1 miles
Arby's
Dining
7,556 visits/mo
0.1 miles
Dollar General
Shops & Services
7,390 visits/mo
0.1 miles
Save-A-Lot
Groceries
4,205 visits/mo
0.2 miles
Demographics for 49017, MI
21,377
Population
9,701
Households
2.2
Avg Household Size
42
Median Age
20%
College-Educated
92%
High-School Grad
56.8 sq mi
ZIP Area
376
Density / Sq Mi
$58,500
Median Household Income
$40,386
Median Earnings
$946
Median Rent
$134,800
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 - Built in 2020, this turnkey retail building sits on a 1.27-acre double lot with 125 feet of road frontage.
Where is this retail space located?
The property is located at 625 North Avenue Unit SourceFi Battle Creek, MI.
What is the asking price?
The asking price for this property is $445,000.
