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    Property profile & analytics

    1581-1583 NE Capital Ave NE, Unit I Battle Creek, MI 49017

    • Strip malls
    • 42,837 SF
    • 3.42 lot acres
    For Lease
    View listing
    $10 SF/Yr
    Last Sale
    Jan 03, 2023
    $638,000
    Value Estimations
    $695,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-2088881
    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

    • Pawfect impressions / (Bike/Boat/Book/etc) Store / Pet Store & Service

    Property Details for 1581-1583 NE Capital Ave NE

    Lot size
    3.42 lot acres
    Property size
    42,837 SF
    Zone code
    GC
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    18-032-100-00
    APU
    1803210000

    Description

    Capital Square Shopping Center, a 50,984-square-foot retail center in Battle Creek, Michigan, presents a compelling investment opportunity. Located on a 5.06-acre parcel at 1583-1603 Capital Ave NE, 49017, this 100% occupied shopping center boasts three tenants: Family Fare Supermarket (anchor tenant since 1979), Family Dollar, and Rent-A-Center. All tenants are on NNN leases, expiring December 30, 2025, generating a net operating income (NOI) of approximately $205,108. Built in 1979 and renovated in 1991, the property features dual-sided monument signage on Capital Avenue, providing excellent visibility to over 10,000 vehicles per day. Ample parking is available with 106 surface-level spaces. The center benefits from a strong location near numerous national retailers, including Walgreens, Dollar Tree, Dollar General, AutoZone, O'Reilly Auto Parts, Ace Hardware, Biggby Coffee, McDonald's, Taco Bell, Subway, KFC, and Wendy's. A partial roof replacement is currently underway for the Family Fare Supermarket. The remaining tenants have occupied the center since at least 2005. This property offers a stable income stream and significant potential for future growth.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $800,000

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $925,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Battle Creek
    County
    Calhoun
    State
    Michigan
    Longitude
    -85.1554
    Latitude
    42.3448
    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
    $18,167
    $0.00
    $0.00
    $313,600
    -
    $0.00
    $0.00
    $627,200

    Comparable in this City

    • Value Estimation by Request
      52,441 SF

      1603 Capital NE Ave

      SHOPPING CENTER, STRIP CENTER • 52,441 SF
      1603 Capital NE Ave, Battle Creek, MI 49017-5381
      View Details
    • Value Estimation by Request
      6,912 SF

      912 Nn Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 6,912 SF
      912 Nn Ave, Battle Creek, MI 49017-3124
      View Details
    • Value Estimation by Request
      8,188 SF

      23047 M 78

      WHOLESALE OUTLET, DISCOUNT STORE • 8,188 SF
      23047 M 78, Battle Creek, MI 49017-9744
      View Details
    • Value Estimation by Request
      12,770 SF

      862 Nn Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 12,770 SF
      862 Nn Ave, Battle Creek, MI 49017-3124
      View Details
    • Value Estimation by Request
      11,683 SF

      89 Michigan W Ave

      RETAIL STORES (PERSONAL SERVICES) • 11,683 SF
      89 Michigan W Ave, Battle Creek, MI 49017-3605
      View Details
    • Value Estimation by Request
      2,940 SF

      619 Nn Ave

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,940 SF
      619 Nn Ave, Battle Creek, MI 49017-3230
      View Details

    Similar Nearby for Sale

    • $3,300,000
      Pending

      Battle Creek Shopping Center For Sale

      42,837 SF shopping center on Capital Avenue NE, Battle Creek.
      1583 Capital Ave NE, Battle Creek, MI 49017
      View Details
    • Contact for pricing
      50,984 SF

      Capital Square Shopping Center

      Grocery-anchored retail center, Battle Creek, MI
      1583 Capital Ave, Battle Creek, MI 49017
      View Details
    • $500,000

      Retail Building on Large Lot

      2100 SF building on 1.27 acre lot for sale.
      625 North Ave, Battle Creek, MI 49017
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    • $339,900
      5,070 SF

      Battle Creek Convenience Store For Sale

      Long-standing convenience store with living space near Fine Lake.
      13027 Banfield Rd, Battle Creek, MI 49017
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    • $399,000
      6,103 SF

      Battle Creek Commercial Property For Sale

      Commercial property with high ratings and new roofs in Battle Creek.
      21995 Bedford Rd N, Battle Creek, MI 49017
      View Details
    • $299,000
      10,148 SF

      Downtown Battle Creek Mixed-Use Building

      Two-story building in downtown Battle Creek suitable for various uses.
      56 E Michigan Ave, Battle Creek, MI 49017
      View Details

    Similar Nearby for Lease

    • $10 SF/Yr
      42,837 SF

      Battle Creek Shopping Center Space

      Retail spaces available in established Battle Creek shopping center.
      1581-1583 NE Capital Ave NE, Battle Creek, MI 49017
      View Details
    • $8 SF/Yr
      6,771 SF

      Retail Space Near Save A Lot

      Versatile retail space with warehouse and high visibility location.
      240 E Roosevelt Ave, Battle Creek, MI 49017
      View Details
    • $15 SF/Yr
      168,081 SF

      Battle Creek Tower Office Space

      Downtown Battle Creek Class A Offices
      70 Michigan Ave, Battle Creek, MI 49017
      View Details
    • $15 SF/Yr
      34,953 SF

      49 West Michigan

      Office space • 34,953 SF
      49 Michigan Ave, Battle Creek, MI 49017
      View Details
    • $14 SF/Yr
      7,073 SF

      Downtown Battle Creek Office Space

      Prime Office Suites Available, 752-1848 SF
      77 Michigan Ave, Battle Creek, MI 49017
      View Details
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    Battle Creek, MI 49017
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    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
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