Brick Office and Retail
1217 Greenwood Avenue Jackson, MI 49203
For Sale
$199,900
COMMERCIAL - Jackson, MI
Property Size2,200 SF
Lot Size0.48 Acres
Price / SF$90.86
Days on Market774
Property Features for 1217 Greenwood Avenue
General Information
- Property type
- Commercial Sale
- Property subtype
- Retail
- Bathrooms
- 1
- Rooms
- Bathroom 1
- Parking
- 20
- Interior features
- Broadband
- Standard status
- Active
- APN
- 3-226200000
- Size
- 2,200 SF
- Lot size
- 0.48 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- 2263, 2264, 2265, 2266 LOTS 4 & 5 & E 99 FT OF LOT 6 BLK 3 PALMER'S ADD
- Tax Annual Amount
- 5104
Utilities
- Heating system
- Forced Air
- Cooling system
- Central Air
Building Details
- Year built
- 1960
- Floors in Building
- 1
- Number of units
- 1
- Building materials
- Brick
- Roof type
- Rubber
Listing Agency:
Howard Hanna Real Estate Services
(517) 787-9800
Listed By:
HEATHER HERNDON · License #6501335416
(517) 812-1641
Added: Jun 13, 2024
Changed: Jul 23
Last Checked: Jul 26 at 4:06AM
MLS# 24030047
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 brick commercial building offers approximately 2,200 square feet and an enclosed foyer at entry. Inside, the layout includes private offices and a bathroom, with an additional room currently used as a Wi-Fi hub that could be converted back. Building utilities include natural gas, central air, and city water and sewer.
The property has parking and frontage on both Greenwood Ave and First St. It is described as being in the Flat Iron District, minutes from downtown and Ella Sharp Park.
The building has historically been used as a bank and later as a cable company, and is presented as suitable for medical, professional office, or retail use. The seller will consider a land contract with 20% down and a 5-year balloon.
The property has parking and frontage on both Greenwood Ave and First St. It is described as being in the Flat Iron District, minutes from downtown and Ella Sharp Park.
The building has historically been used as a bank and later as a cable company, and is presented as suitable for medical, professional office, or retail use. The seller will consider a land contract with 20% down and a 5-year balloon.
Key Highlights
- 2200 Sq Ft Brick Commercial Building in the flat iron district.
- Great parking with frontage on both Greenwood Ave & First St.
- Suitable for Medical, Professional Office or Retail Space.
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $26.4k | $12.00 |
| − Vacancy | −$4.7k | −$2.15 |
| EGI | $21.7k | $9.85 |
| − OpEx | −$6.5k | −$2.96 |
| NOI | $15.2k | $6.90 |
2,200 SF · lease $12.00/SF/yr · vacancy 17.90% · expense 30.00%
Alternative Uses
Best Use
Healthcare Medical
$287.1K
$251.2K – $335.0K
NOI $20,097 @ 7.0% cap · market cap 10.05%
Second Best
Office B
$263.4K
$230.5K – $307.3K
NOI $18,438 @ 7.0% cap · market cap 9.22%
Theoretical Best
Office A
$351.2K
$307.3K – $409.7K
NOI $24,584 @ 7.0% cap · market cap 12.30%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Office buildings
FAQs
What type of property is this?
Office building - Brick commercial building with private offices, enclosed foyer, and central air, served by city water and sewer.
Where is this office building located?
The property is located at 1217 Greenwood Avenue Jackson, MI.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: 2200 Sq Ft Brick Commercial Building in the flat iron district.; Great parking with frontage on both Greenwood Ave & First St.; Suitable for Medical, Professional Office or Retail Space.
