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    Property profile & analytics

    2845 Capital Ave SW, Unit 201 Battle Creek, MI 49015

    • Office buildings
    • 38,577 SF
    • 4.87 lot acres
    For Lease
    View listing
    $18 SF/Yr
    Last Sale
    May 17, 2023
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-2175539
    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

    • Byron D. Campbell II, MD / Physician / Medical Clinic
    • William Workman, DO / Pediatrician / Physician
    • Dr. Jeffrey Jones / Physician / Medical Clinic
    • Dr. Robert Shurmur / Physician
    • Michigan Home Dialysis Center Inc / Medical Clinic

    Property Details for 2845 Capital Ave SW

    Year built
    1992
    Lot size
    4.87 lot acres
    Property size
    38,577 SF
    Zone code
    T3
    Property type
    Office buildings
    APN
    0086-00-940-0
    APU
    86009400

    Description

    This exceptional 38,577 square foot Class B medical office building, situated on 4.87 acres at 2845 Capital Avenue in Battle Creek, offers immediate occupancy in two available suites ranging from 700 to 3,611 square feet. Built in 1992, this three-story building boasts a desirable location along the Capital Avenue corridor, experiencing high traffic volume of 13,470 vehicles daily. The available spaces are completely vacant, providing a unique opportunity for tenant build-out and customization. Benefit from prominent signage opportunities on the monument sign along Capital Avenue, ensuring excellent visibility and brand recognition. The property is zoned T3 and features a single building with multiple tenants, including established medical practices such as Fresenius Dialysis Center, Borgess Medical Center, B&T Medical Adventures, Oakland Orthopedics, Advanced Vascular Surgery, and Bronson Methodist. This presents a strong medical synergy and a thriving professional environment. The property's APN is 0086-00-940-0. This is an unparalleled chance to establish or expand your medical practice in a high-traffic, well-established medical center. Don't miss this opportunity to secure your ideal space in this thriving Battle Creek location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,944,000
      Market price range: $1.30M - $4.10M
      AI Estimate
      $3,944,000
      Market price range: $1.30M - $4.10M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $2,845,000
      Current use
      COMMERCIAL (GENERAL)
      $4,860,000
      Change: +71% Conversion: Easy
      RESTAURANT
      $3,205,000
      Change: +13% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $2,605,000
      Change: -8% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Battle Creek
    County
    Calhoun
    State
    Michigan
    Longitude
    -85.1971
    Latitude
    42.259
    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
    $1,751,048
    -
    $0.00
    $0.00
    $3,502,096

    Comparable in this City

    • Value Estimation
      $2,165,000
      37,848 SF

      4625 Beckley Rd

      OFFICE BUILDING • 37,848 SF
      4625 Beckley Rd, Battle Creek, MI 49015-7948
      View Details
    • Value Estimation by Request
      4,345 SF

      3200 Capital SW Ave

      OFFICE BUILDING • 4,345 SF
      3200 Capital SW Ave, Battle Creek, MI 49015-4300
      View Details
    • Value Estimation by Request
      3,175 SF

      2150 Columbia W Ave

      OFFICE BUILDING • 3,175 SF
      2150 Columbia W Ave, Battle Creek, MI 49015-2848
      View Details
    • Value Estimation
      $565,000
      12,670 SF

      77 20th S St

      OFFICE BUILDING • 12,670 SF
      77 20th S St, Battle Creek, MI 49015-2991
      View Details
    • Value Estimation
      $1,155,000
      24,800 SF

      424 Riverside Dr

      OFFICE BUILDING • 24,800 SF
      424 Riverside Dr, Battle Creek, MI 49015-3440
      View Details
    • Value Estimation by Request
      3,200 SF

      150 Riverside Dr

      OFFICE BUILDING • 3,200 SF
      150 Riverside Dr, Battle Creek, MI 49015-2531
      View Details

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    Similar Nearby for Lease

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      Battle Creek Medical Office Space

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      View Details
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      Battle Creek Office Suites Available

      Office suites for lease in thriving business center.
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    • $12 SF/Yr
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      Downtown Battle Creek Office Suite

      Move-in ready office space in downtown Battle Creek available for lease.
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    • Contact for pricing
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    • $8 SF/Yr
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      Downtown Battle Creek Office Suite

      Move-in ready office space in downtown Battle Creek available for lease.
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      View Details
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    2845 Capital Ave SW, Unit 201
    Battle Creek, MI 49015
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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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