Former Tire Shop with
For Sale
Contact for pricing
204 E Columbia Ave, Battle Creek, MI 49015
8,340 SF building with 8 bays and 1,864 SF mezzanine.
Property Size8,340 SF
Price / SF$137.89
Days on Market1528
Property Features for 204 E Columbia Ave
General Information
Standard status
Active
Size
8,340 SF
Property subtype
Retail, Office
Zoning
B-1 Corridor Commercial District
Listing Agency:
Mid-America Real Estate - Michigan, Inc.
Listed By:
Jared Gell · License #6501329516
Source:
Crexi
Added: Jun 16, 2022
Changed: Aug 11
Last Checked: Aug 19 at 10:11AM
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 Mid-America Real Estate - Michigan, Inc.
Investment Insights
Based on property information with market context.
The property is a former Discount Tire store situated on the southwest quadrant of E. Columbia Avenue and Riverside Drive. The building spans 8,340 square feet and includes 8 service bays, along with a 1,864 square foot mezzanine. It is located adjacent to a new White Water Express Car Wash and across from a new Circle K. The site provides access from both E. Columbia Avenue and Riverside Drive. Signage includes a large pylon sign on E. Columbia Avenue and a monument sign on Riverside Drive. The 2024 real estate taxes totaled $27,174.04. Zoned B-1 Corridor Commercial District, the property allows for a range of uses, including financial institutions, drive-thru restaurants, medical offices, and vehicle dealerships. Traffic on E. Columbia Avenue exceeds 20,000 cars per day.
Key Highlights
- High traffic location: Over 20,000 cars per day on E. Columbia Avenue.
- Versatile B‑1 Corridor Commercial District zoning allows for a broad range of uses.
- Building features 8,340 SF with 8 service bays, plus a 1,864 SF mezzanine.
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
$86,577
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
7.53%
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%
$1,731,540
$1.7M
Cap Rate 7%
$1,236,814
$1.2M
Cap Rate 9%
$961,967
$962.0K
Market Conditions
NOI Build-Up for 8,340 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
$129.1K $15.48/SF
− Vacancy
−$5.4K −$0.65/SF
EGI
$123.7K $14.83/SF
− OpEx
−$37.1K −$4.45/SF
NOI
$86.6K $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%
$1,731,540
Cap Rate 7%
$1,236,814
Cap Rate 9%
$961,967
Alternative Uses
Best Use
Retail
$1.24M
$1.08M – $1.44M
NOI $86,577 @ 7.0% cap · market cap 7.53%
Second Best
Industrial
$736.9K
$644.8K – $859.7K
NOI $51,581 @ 7.0% cap · market cap 4.49%
Theoretical Best
Healthcare Medical
$98.93M
$86.57M – $115.42M
NOI $6,925,245 @ 7.0% cap · market cap 602.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
456
Businesses Nearby
153k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 46%
Groceries 25%
Dining 25%
Electronics 3%
Family Fare
Groceries
22,710 visits/mo
0.3 miles
Circle K
Shops & Services
20,796 visits/mo
0.1 miles
Gordon Food Service
Groceries
16,170 visits/mo
0.2 miles
Shell
Shops & Services
15,653 visits/mo
0.4 miles
Taco Bell
Dining
13,300 visits/mo
0.4 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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Similar Off Market Nearby
- Lakeview Body Shop — 334 W Columbia Ave, Battle Creek, MI 49015
- One Stop Express Lube — 145 W Columbia Ave # 100, Battle Creek, MI 49015
- Galactic Shades Window Tinting — 145 W Columbia Ave ste 200, Battle Creek, MI 49014
- Goldsberry Mobile Windshield Repair & Replacement Team — 907 capital ave sw, battle creek, mi 49015
- Auto-Lab — 145 W Columbia Ave # 400, Battle Creek, MI 49015
Frequently Asked Questions
What type of property is this?
Auto shop - 8,340 SF building with 8 bays and 1,864 SF mezzanine.
Where is this auto shop located?
The property is located at 204 E Columbia Ave Battle Creek, MI.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: High traffic location: Over 20,000 cars per day on E. Columbia Avenue.; Versatile B‑1 Corridor Commercial District zoning allows for a broad range of uses.; Building features **8,340 SF with 8 service bays, plus a 1,864 SF mezzanine.**
