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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2770 Centerville Rd Sturgis, MI 49091

    • Commercial real estate
    • 11.62 lot acres
    For Sale
    View listing
    $450,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-2042641
    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

    • Sturgis Wellness Center and Provisioning / Wellness Center

    Property Details for 2770 Centerville Rd

    Lot size
    11.62 lot acres
    Property type
    Commercial real estate
    APN
    052-777-294-00
    APU
    5277729400

    Description

    This exceptional 11.37-acre industrial property in Sturgis, Michigan, presents a compelling redevelopment opportunity. Located on the Indiana/Michigan border, this site boasts convenient access to I-80/90, less than half a mile away. The property previously served as a golf driving range and includes a 1,092 square foot building with potential for repurposing. The building's adaptability makes it suitable for a variety of uses. The site's zoning is Highway-Business 1, opening doors to diverse development possibilities, including but not limited to multi-family housing, recreational facilities, storage units, a church, a mobile home park, or a hotel, all subject to necessary zoning approvals. Recent improvements include a new asphalt parking area and entrance drive, completed within the past year. This prime location and versatile zoning make this an attractive investment for developers seeking a high-potential project. The property's size and strategic location offer significant advantages for a wide range of commercial ventures. This is a rare opportunity to acquire a substantial parcel of land with existing infrastructure in a rapidly growing area. Serious inquiries are encouraged.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Sturgis
    County
    St. Joseph
    State
    Michigan
    Longitude
    -85.4247
    Latitude
    41.7609
    CBSA code
    44780
    CBSA name
    STURGIS, MI MICROPOLITAN 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
    2023
    $8,120
    $125,900
    $96,700
    $222,600
    -
    $251,800
    $193,400
    $445,200

    Comparable in this City

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      155 Memorial Dr

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      509 Orange St

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      1 Airport Rd, Unit A2

      COMMERCIAL (GENERAL)
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      COMMERCIAL (GENERAL)
      426 Broadus St, Sturgis, MI 49091
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    Similar Nearby for Sale

    • $450,000
      11.37 Acres

      Sturgis Commercial Land - $450K

      11.37 Acres, Highway Business Zoning
      2770 Centerville Rd, Sturgis, MI 49091
      View Details
    • $150,000
      1.36 Acres

      Sturgis Commercial Land - 1.36 Acres

      Prime Commercial Land, I-80/90 Access
      0 Centerville Rd, Sturgis, MI 49091
      View Details
    • $450,000
      9.00 Acres

      Sturgis Commercial Land - 9 Acres

      Prime Sturgis commercial land, I-80 access.
      2730 Centerville Rd, Sturgis, MI 49091
      View Details
    • Contact for pricing
      0.27 Acres

      Corner Lot with Lake Access

      Residential lot with deeded lake access in Sturgis, Michigan.
      Vl Seneca Ct, Sturgis, MI 49091
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    • Contact for pricing
      0.14 Acres

      Vacant Lot in Sturgis, MI

      Vacant building lot in an established Sturgis neighborhood.
      Vl Farwell Ave, Sturgis, MI 49091
      View Details
    • $159,900
      0.82 Acres

      Sturgis Industrial Development Opportunity

      Industrial-zoned land near I-80/I-90, suitable for manufacturing and logistics.
      708 N Centerville Rd, Sturgis, MI 49091
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,338 SF

      Sturgis Retail Land Opportunity

      Prime Sturgis, MI commercial land for lease.
      1270 Centerville Rd, Sturgis, MI 49091
      View Details
    • Contact for pricing

      Retail Space in Sturgis Plaza

      Retail space available in a grocery-anchored shopping center.
      South Centerville Rd, Sturgis, MI 49091
      View Details
    • Contact for pricing
      16,611 SF

      Retail Space in Sturgis Plaza

      Retail space available within a grocery-anchored shopping center.
      805-811 S Centerville Rd, Sturgis, MI 49091
      View Details
    • $20 SF/Yr
      2,200 SF

      Sturgis, MI Commercial Space

      Class A office/retail space with high visibility and ample parking.
      1307 S Centerville Rd, Sturgis, MI 49091
      View Details
    • $3,000,000

      Industrial Space with Crane Access

      60,000 SF industrial space featuring a 20-ton crane.
      1515 W Chicago Rd, Sturgis, MI 49091
      View Details
    • $4 SF/Yr
      881,000 SF

      Sturgis Warehouse

      Manufacturing properties • 881,000 SF
      210 Broadus St, Sturgis, MI 49091
      View Details
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    2770 Centerville Rd
    Sturgis, MI 49091
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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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