Renovated Commercial Property with
For Sale
$575,000
946 Capital Ave Ne, Battle Creek, MI 49017
Turn-key commercial property with apartments and high-traffic location.
Property Size4,000 SF
Lot Size0.64 Acres
Price / SF$143.75
Days on Market277
Property Features for 946 Capital Ave Ne
General Information
Standard status
Active
Size
4,000 SF
Lot size
0.64 Acres
Taxes and HOA fees
Annual Taxes
$3,030
Listing Agency:
eXp Realty LLC
(269) 274-4340
Listed By:
Dyan E Davis · License #6501403659
(269) 274-4340
Source:
Exprealty
Added: Nov 17, 2025
Changed: Aug 8
Last Checked: Aug 8 at 1:10PM
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.
This newly renovated property offers a high-quality office/service space with a modern ambience. Established in 1964, the location has a history of generating profits for various businesses due to its high traffic. The property includes a heated 48' x 32' pole barn equipped with a hoist. A 15,000 sq ft parking lot has been newly seal coated. Additionally, the property features two connected apartments. The buildings encompass 4,000 sq ft and have been updated with new electrical systems, roofs, siding, and interior/exterior finishes. This turn-key property, with a negotiable business name, is suitable for various business ventures, including continuing as a car lot, repair shop, or other enterprises.
Key Highlights
- Turnkey opportunity with newly renovated 4,000 sq ft buildings, including new electrical, roofs, siding, and interior/exterior.
- High‑traffic commercial location established in 1964 with proven sales history.
- Heated 48' x 32' pole barn with hoist.
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
$41,524
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
7.22%
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%
$830,480
$830.5K
Cap Rate 7%
$593,200
$593.2K
Cap Rate 9%
$461,378
$461.4K
Market Conditions
NOI Build-Up for 4,000 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
$61.9K $15.48/SF
− Vacancy
−$2.6K −$0.65/SF
EGI
$59.3K $14.83/SF
− OpEx
−$17.8K −$4.45/SF
NOI
$41.5K $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%
$830,480
Cap Rate 7%
$593,200
Cap Rate 9%
$461,378
Alternative Uses
Best Use
Retail
$593.2K
$519.1K – $692.1K
NOI $41,524 @ 7.0% cap · market cap 7.22%
Second Best
Apartment 5plus
$434.3K
$380.1K – $506.7K
NOI $30,404 @ 7.0% cap · market cap 5.29%
Theoretical Best
Healthcare Medical
$47.45M
$41.52M – $55.36M
NOI $3,321,460 @ 7.0% cap · market cap 577.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
330
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
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 Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Automotive property - Turn-key commercial property with apartments and high-traffic location.
Where is this automotive property located?
The property is located at 946 Capital Ave Ne Battle Creek, MI.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Turnkey opportunity with **newly renovated 4,000 sq ft buildings**, including new electrical, roofs, siding, and interior/exterior.; High‑traffic commercial location established in 1964 with proven sales history.; Heated 48' x 32' pole barn with hoist.
