Restaurant Property With Lower-Level
New
For Sale
$450,000
883 North Avenue, Battle Creek, MI 49017
Includes furnishings, equipment, and a Liquor C License for continued restaurant operations.
Property Size3,690 SF
Days on Market5
Property Features for 883 North Avenue
General Information
Standard status
Active
Size
3,690 SF
Property subtype
Commercial
Additional Details
Furnished
Yes
Business Included
Yes
Equipment Included
Yes
Taxes and HOA fees
Annual Taxes
$5,633
Building Details
Building Size
3,690 SF
Year Built
1960
Buildings
1
Units
1
Listing Agency:
1st Advantage Realty
(616) 534-4480
Listed By:
Rene Guzman · License #6501383944
Source:
Eliterealtymi
Added: Aug 16
Changed: Aug 17
Last Checked: Aug 20 at 2:32PM
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 1st Advantage Realty
Investment Insights
Based on property information with market context.
The offering combines a restaurant operating on the main level with a separate lounge area below. The real estate, restaurant equipment, and furnishings are included, creating a consolidated package for an owner seeking an established food-service configuration with additional entertainment space.
The lower level is arranged for lounge use and has been positioned for nightclub events and private parties. The space may also accommodate a banquet hall or event-space concept, subject to applicable requirements. Built in 1960, the property is located at 883 North Avenue in Battle Creek, Michigan, and includes a Liquor C License.
The lower level is arranged for lounge use and has been positioned for nightclub events and private parties. The space may also accommodate a banquet hall or event-space concept, subject to applicable requirements. Built in 1960, the property is located at 883 North Avenue in Battle Creek, Michigan, and includes a Liquor C License.
Key Highlights
- Main‑level restaurant with lower‑level lounge
- Real estate, restaurant equipment, and furnishings included
- Liquor C License included
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
$41,042
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
9.12%
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%
$820,840
$820.8K
Cap Rate 7%
$586,314
$586.3K
Cap Rate 9%
$456,022
$456.0K
Market Conditions
NOI Build-Up for 3,690 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
$57.1K $15.48/SF
− Vacancy
−$2.4K −$0.65/SF
EGI
$54.7K $14.83/SF
− OpEx
−$13.7K −$3.71/SF
NOI
$41.0K $11.12/SF
Area
Calhoun County, MI
Vacancy
4.20%
Lease Rate
$15.48 /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%
$820,840
Cap Rate 7%
$586,314
Cap Rate 9%
$456,022
Alternative Uses
Best Use
Specialty Retail
$586.3K
$513.0K – $684.0K
NOI $41,042 @ 7.0% cap · market cap 9.12%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$43.77M
$38.30M – $51.07M
NOI $3,064,047 @ 7.0% cap · market cap 680.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
144
Businesses Nearby
7k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar General
Shops & Services
7,390 visits/mo
0.5 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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Includes furnishings, equipment, and a Liquor C License for continued restaurant operations.
Where is this conventional restaurant located?
The property is located at 883 North Avenue Battle Creek, MI.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Main‑level restaurant with lower‑level lounge; Real estate, restaurant equipment, and furnishings included; Liquor C License included
