Restaurant Building with Outdoor
For Sale
$389,000
145 W Pearl Street, Jackson, MI 49201
Commercial Sale, Jackson, MI
Property Size1,980 SF
Lot Size0.05 Acres
Price / SF$196.46
Days on Market51
Property Features for 145 W Pearl Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
C-3
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bathroom 2, Bathroom 1
Elementary school district
Jackson
Middle school district
Jackson
High school district
Jackson
Standard status
Active
APN
1-003400000
Size
1,980 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
W 22 FT OF N 90 FT OF LOT 9 BIN R 1E OF THE ORIGINAL PLAT OF THE VILLAGE OF JACKSONBURG
Tax Annual Amount
5916
Legal Description
W 22 FT OF N 90 FT OF LOT 9 BIN R 1E OF THE ORIGINAL PLAT OF THE VILLAGE OF JACKSONBURG
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1950
Floors in Building
1
Number of units
1
Building materials
Brick
Roof type
Rubber
Listing Agency:
Century 21 Affiliated - Jackson
(517) 888-0050
Listed By:
Pamela Sue Mackinder · License #MI6501425179
(517) 581-1630
Added: Jul 20
Changed: Sep 7
Last Checked: Sep 8 at 5:06PM
MLS# 26037190
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 restaurant property at 145 W Pearl Street includes 1,980 square feet on a 0.05-acre parcel. The 1950 building has brick construction, a rubber roof, forced-air heating, and central air conditioning. Interior components include a basement and two bathrooms, while the operation includes commercial kitchen equipment and fixtures. A lunch-and-dinner menu and seasonal outdoor seating are also in place.
The property is positioned in Downtown Jackson, Michigan, at postal code 49201. The sale includes the liquor license along with the restaurant equipment and fixtures, providing a defined operating setup for continued food-and-beverage use.
The property is positioned in Downtown Jackson, Michigan, at postal code 49201. The sale includes the liquor license along with the restaurant equipment and fixtures, providing a defined operating setup for continued food-and-beverage use.
Key Highlights
- 1,980‑square‑foot restaurant property on a 0.05‑acre parcel
- Located at 145 W Pearl Street in Downtown Jackson, MI 49201
- Commercial kitchen equipment and fixtures 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
$18,813
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
4.84%
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%
$376,260
$376.3K
Cap Rate 7%
$268,757
$268.8K
Cap Rate 9%
$209,033
$209.0K
Market Conditions
NOI Build-Up for 1,980 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
$27.3K $13.80/SF
− Vacancy
−$2.2K −$1.13/SF
EGI
$25.1K $12.67/SF
− OpEx
−$6.3K −$3.17/SF
NOI
$18.8K $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%
$376,260
Cap Rate 7%
$268,757
Cap Rate 9%
$209,033
Alternative Uses
Best Use
Specialty Retail
$268.8K
$235.2K – $313.6K
NOI $18,813 @ 7.0% cap · market cap 4.84%
Second Best
Industrial
$196.5K
$172.0K – $229.3K
NOI $13,756 @ 7.0% cap · market cap 3.54%
Theoretical Best
Office A
$316.1K
$276.6K – $368.8K
NOI $22,125 @ 7.0% cap · market cap 5.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
1,469
Businesses Nearby
13k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 52%
Shops & Services 39%
Electronics 9%
BIGGBY COFFEE
Dining
6,603 visits/mo
0.4 miles
Huntington Bank
Shops & Services
2,329 visits/mo
0.1 miles
Boost Mobile
Electronics
1,213 visits/mo
0.3 miles
Old National Bank
Shops & Services
1,008 visits/mo
0.2 miles
Firestone Complete Auto Care
Shops & Services
765 visits/mo
0.3 miles
Demographics for 49201, MI
47,747
Population
18,102
Households
2.6
Avg Household Size
41
Median Age
23%
College-Educated
92%
High-School Grad
155.0 sq mi
ZIP Area
308
Density / Sq Mi
$71,714
Median Household Income
$36,390
Median Earnings
$945
Median Rent
$202,900
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Operating food-and-beverage property with a seasonal patio, commercial kitchen improvements, and an included liquor license.
Where is this conventional restaurant located?
The property is located at 145 W Pearl Street Jackson, MI.
What is the asking price?
The asking price for this property is $389,000.
What are key features of this property?
This property features: 1,980‑square‑foot restaurant property on a 0.05‑acre parcel; Located at 145 W Pearl Street in Downtown Jackson, MI 49201; Commercial kitchen equipment and fixtures included
