Established Restaurant with
New
For Sale
$225,000
916 North Ave, Battle Creek, MI 49017
Compact commercial layout accommodates takeout, dine-in, and drive-through service.
Property Size1,316 SF
Price / SF$170.97
Days on Market3
Property Features for 916 North Ave
General Information
Standard status
Active
Size
1,316 SF
Additional Details
Business Included
Yes
Building Details
Year Built
1980
Listing Agency:
eXp Realty LLC
Listed By:
Karen D Elmore-Woods
(269) 209-1871
Source:
Katie-k
Added: Sep 1
Last Checked: Sep 2 at 7:21PM
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 eXp Realty LLC
Investment Insights
Based on property information with market context.
The Drumstick is a restaurant property and operating concept at 916 North Ave in Battle Creek, Michigan. Built in 1980, the 1,316-square-foot facility has a compact configuration suited to takeout, dine-in, and drive-through service, with on-site parking for customers.
The restaurant has operated at this location for more than 40 years and offers a menu centered on fried chicken, fish, barbecue ribs, and traditional side dishes. The sale presents an opportunity to continue the existing concept and goodwill or adapt the site for a different restaurant operation. Its North Avenue location provides direct street access within Battle Creek.
The restaurant has operated at this location for more than 40 years and offers a menu centered on fried chicken, fish, barbecue ribs, and traditional side dishes. The sale presents an opportunity to continue the existing concept and goodwill or adapt the site for a different restaurant operation. Its North Avenue location provides direct street access within Battle Creek.
Key Highlights
- 1,316‑square‑foot restaurant building constructed in 1980
- Operating restaurant concept with more than 40 years at the location
- Layout supports takeout, dine‑in, and drive‑through service
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
$14,637
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
6.51%
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%
$292,740
$292.7K
Cap Rate 7%
$209,100
$209.1K
Cap Rate 9%
$162,633
$162.6K
Market Conditions
NOI Build-Up for 1,316 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
$20.4K $15.48/SF
− Vacancy
−$856 −$0.65/SF
EGI
$19.5K $14.83/SF
− OpEx
−$4.9K −$3.71/SF
NOI
$14.6K $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%
$292,740
Cap Rate 7%
$209,100
Cap Rate 9%
$162,633
Alternative Uses
Best Use
Specialty Retail
$209.1K
$183.0K – $244.0K
NOI $14,637 @ 7.0% cap · market cap 6.51%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$15.61M
$13.66M – $18.21M
NOI $1,092,760 @ 7.0% cap · market cap 485.67%
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
72
Businesses Nearby
2k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Marathon Petroleum
Shops & Services
2,370 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?
Conventional restaurant - Compact commercial layout accommodates takeout, dine-in, and drive-through service.
Where is this conventional restaurant located?
The property is located at 916 North Ave Battle Creek, MI.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: 1,316‑square‑foot restaurant building constructed in 1980; Operating restaurant concept with more than 40 years at the location; Layout supports takeout, dine‑in, and drive‑through service
