Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1401 Shiga Dr Springfield, MI 49037-5605

    • Industrial properties
    • 59,850 SF
    • 23.78 lot acres
    OFF-MARKET
    Value Estimations
    $3,040,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-4230805
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Industrial properties

    Property Details for 1401 Shiga Dr

    Year built
    2018
    Lot size
    23.78 lot acres
    Property size
    59,850 SF
    Zone code
    I2
    Property type
    Industrial properties
    APN
    0020-17-142-1
    APU
    20171421

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,039,000
      Market price range: $994k - $3.04M
      AI Estimate
      $3,039,000
      Market price range: $994k - $3.04M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $1,970,000
      Current use
      RESTAURANT
      $4,970,000
      Change: +152% Conversion: Difficult
      OFFICE BUILDING
      $4,415,000
      Change: +124% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $4,040,000
      Change: +105% Conversion: Easy
      RETAIL STORES
      $3,540,000
      Change: +80% Conversion: Moderate

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Calhoun
    State
    Michigan
    Longitude
    -85.2261
    Latitude
    42.3351
    CBSA code
    12980
    CBSA name
    BATTLE CREEK, MI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $0.00
    $0.00
    $0.00
    $1,103,034
    -
    $0.00
    $0.00
    $2,206,068

    Comparable in this City

    • Value Estimation by Request
      1.92 Acres

      Goodale Ave

      INDUSTRIAL (GENERAL) • 1.92 Acres
      Goodale Ave, Battle Creek, MI 49037
      View Details
    • Value Estimation by Request
      1,295 SF

      126 Parrish St

      INDUSTRIAL (GENERAL) • 1,295 SF
      126 Parrish St, Battle Creek, MI 49037
      View Details
    • Value Estimation by Request
      3,472 SF

      126 Brady Rd

      INDUSTRIAL (GENERAL) • 3,472 SF
      126 Brady Rd, Battle Creek, MI 49037-5623
      View Details
    • Value Estimation
      $5,410,000
      123,918 SF

      300 Buckner Rd

      INDUSTRIAL (GENERAL) • 123,918 SF
      300 Buckner Rd, Battle Creek, MI 49037-5602
      View Details
    • Value Estimation
      $8,680,000
      199,664 SF

      100 Hl Brady Rd

      INDUSTRIAL (GENERAL) • 199,664 SF
      100 Hl Brady Rd, Battle Creek, MI 49037-7301
      View Details
    • Value Estimation
      $8,985,000
      191,099 SF

      215 Hl Brady Rd

      INDUSTRIAL (GENERAL) • 191,099 SF
      215 Hl Brady Rd, Battle Creek, MI 49037-5614
      View Details

    Similar Nearby for Sale

    • $2,900,000
      107,560 SF

      Industrial Building in Fort Custer

      Industrial building for sale in Fort Custer Industrial Park.
      300 Fritz Keiper Blvd, Battle Creek, MI 49037
      View Details
    • $249,000
      6,260 SF

      Upgraded Industrial Building in Battle Creek

      Industrial building with recent upgrades in Battle Creek, Michigan.
      333 W Hamblin Ave, Battle Creek, MI 49037
      View Details
    • $349,000
      9,722 SF

      2475 Dickman Rd, Springfield, MI 49037

      Industrial properties • 9,722 SF
      2475 Dickman Rd, Springfield, MI 49037
      View Details
    • $299,999

      Light Industrial Warehouse For Sale

      Freestanding, newly constructed warehouse suitable for cannabis or industrial use.
      24 Leonard Rd, Battle Creek, MI 49037
      View Details
    • $599,900
      10,756 SF

      Battle Creek Commercial Opportunity

      Commercial property on Michigan Ave with two metal buildings.
      750 Michigan Ave, Battle Creek, MI 49037
      View Details
    • $5,750,000
      112,500 SF

      Springfield Warehouse Investment

      112,500 SF NNN Lease, 6.83% Cap Rate
      1961 Base Ave, Springfield, MI 49037
      View Details

    Similar Nearby for Lease

    • $1.00 SF/Yr
      4,000 SF

      Industrial Space Near I-94

      4000 SF industrial space with overhead doors near I-94.
      256 N 30Th St, Springfield, MI 49037
      View Details
    • $10 SF/Yr
      2,779 SF

      Flex Space Near Battle Creek Airport

      Flex space with office, retail, and warehouse functionality available for rent.
      2535 5Th Ave, Springfield, MI 49037
      View Details
    • $5 SF/Yr
      13,128 SF

      Battle Creek Industrial Warehouse For Rent

      One-story industrial warehouse with office space available for lease.
      103 Grove St, Battle Creek, MI 49037
      View Details
    • $1,500 /Mo
      1,537 SF

      Springfield Flex Space For Rent

      Flex space available for rent in Springfield, Michigan.
      4535 Wayne Rd Unit, Springfield, MI 49037
      View Details
    • $3 SF/Yr
      22,000 SF

      Springfield Retail Opportunity

      22,000 SF retail space available for lease in Springfield.
      4535 Wayne Rd, Springfield, MI 49037
      View Details
    • Contact for pricing

      Calhoun County Commercial Land Parcel

      0.76-acre commercial lot, single tenant.
      0 Goodale Ave, Battle Creek, MI 49037
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1401 Shiga Dr
    Springfield, MI 49037-5605
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!