Retail Storefront with Deli and
For Sale
$799,900
1202-1206 Martin Luther King Junior Drive, Jackson, MI 49203
Commercial Sale, Jackson, MI
Property Size5,460 SF
Lot Size1.01 Acres
Price / SF$146.50
Days on Market148
Property Features for 1202-1206 Martin Luther King Junior Drive
General Information
Property type
Commercial Sale
Property subtype
Retail
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Interior features
Broadband
Elementary school district
Jackson
Middle school district
Jackson
High school district
Jackson
Directions
W High St to MLK Jr Dr
Standard status
Active
APN
#5-0699.1000
Size
5,460 SF
Lot size
1.01 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
698, 699, 700, 701, 702, 703 S 42 FT OF LOT 10 ALL OF LOTS 11, 12, 13, 14 & 15 BLK 2 MERRIMAN'S ADD
Tax Annual Amount
7478
Legal Description
698, 699, 700, 701, 702, 703 S 42 FT OF LOT 10 ALL OF LOTS 11, 12, 13, 14 & 15 BLK 2 MERRIMAN'S ADD
Utilities
Utilities
Cable Available
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
2002
Floors in Building
1
Number of units
2
Building materials
Brick, Metal Siding
Roof type
Metal
Listing Agency:
Coldwell Banker Beiswanger Realty Group
(517) 435-1500
Listed By:
Jordon Jarrett · License #6501378237
(517) 795-6044
Added: Apr 14
Changed: Sep 7
Last Checked: Sep 8 at 9:06AM
MLS# 26015400
Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 5,460-square-foot retail property, built in 2002, includes an open deli layout with a fully equipped kitchen and two bathrooms. The improvements feature brick and metal siding, a metal roof, forced-air heating, central air, broadband, and cable availability. A neighboring laundromat is part of the property, with its equipment included.
The offering encompasses 1.01 acres at 1202-1206 Martin Luther King Junior Drive in Jackson, Michigan, along with three additional parcels. The combination of existing retail and service-oriented improvements creates a multi-component commercial property with land included for future planning. Current site features include an operating laundromat and food-service space.
The offering encompasses 1.01 acres at 1202-1206 Martin Luther King Junior Drive in Jackson, Michigan, along with three additional parcels. The combination of existing retail and service-oriented improvements creates a multi-component commercial property with land included for future planning. Current site features include an operating laundromat and food-service space.
Key Highlights
- 5,460‑square‑foot retail property built in 2002
- Open deli layout with fully equipped kitchen
- Operating laundromat with equipment included
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
$51,877
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
6.49%
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%
$1,037,540
$1.0M
Cap Rate 7%
$741,100
$741.1K
Cap Rate 9%
$576,411
$576.4K
Market Conditions
NOI Build-Up for 5,460 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
$75.3K $13.80/SF
− Vacancy
−$6.2K −$1.13/SF
EGI
$69.2K $12.67/SF
− OpEx
−$17.3K −$3.17/SF
NOI
$51.9K $9.50/SF
Area
Jackson County, MI
Vacancy
8.20%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
25.00%
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%
$1,037,540
Cap Rate 7%
$741,100
Cap Rate 9%
$576,411
Alternative Uses
Best Use
Specialty Retail
$741.1K
$648.5K – $864.6K
NOI $51,877 @ 7.0% cap · market cap 6.49%
Second Best
Retail
$537.9K
$470.7K – $627.6K
NOI $37,654 @ 7.0% cap · market cap 4.71%
Theoretical Best
Office A
$871.6K
$762.7K – $1.02M
NOI $61,012 @ 7.0% cap · market cap 7.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
292
Businesses Nearby
4k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 46%
Dining 35%
Home Improvements & Furnishings 19%
AutoZone
Shops & Services
1,883 visits/mo
0.2 miles
Domino's Pizza
Dining
1,452 visits/mo
0.2 miles
Johnstone Supply
Home Improvements & Furnishings
761 visits/mo
0.4 miles
Demographics for 49203, MI
37,269
Population
16,999
Households
2.2
Avg Household Size
39
Median Age
23%
College-Educated
93%
High-School Grad
26.5 sq mi
ZIP Area
1,406
Density / Sq Mi
$55,689
Median Household Income
$37,096
Median Earnings
$992
Median Rent
$150,900
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Brick commercial property combines food-service improvements with an operating laundromat and additional parcels.
Where is this storefront property located?
The property is located at 1202-1206 Martin Luther King Junior Drive Jackson, MI.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: 5,460‑square‑foot retail property built in 2002; Open deli layout with fully equipped kitchen; Operating laundromat with equipment included
