Flex Space with
For Sale
$399,000
2005 E Michigan Avenue, Jackson, MI 49202
COMMERCIAL - Jackson, MI
Property Size2,916 SF
Lot Size0.62 Acres
Price / SF$136.83
Days on Market500
Property Features for 2005 E Michigan Avenue
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
C-4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Parking
30
Elementary school district
Jackson
Middle school district
Jackson
High school district
Jackson
Directions
Corner of E Michigan and Gorham.
Subdivision
Jackson County - JX
Standard status
Active
APN
6-080500000
Size
2,916 SF
Lot size
0.62 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
LOTS 1 & 2 BLK 21 EAST ADD NO 5
Tax Annual Amount
5667
Legal Description
LOTS 1 & 2 BLK 21 EAST ADD NO 5
Utilities
Heating system
Forced Air
Amenities
showroom
reception area
office
break room
storage
warehouse space
overhead doors
Building Details
Year built
1985
Floors in Building
1
Number of units
1
Building materials
Block, Vinyl Siding, Wood Siding
Roof type
Composition
Listing Agency:
ERA Reardon Realty, L.L.C.
(517) 782-2996
Listed By:
ALEX C PERLOS · License #6501210977
(517) 740-4421
Added: Apr 9, 2025
Changed: Aug 10
Last Checked: Aug 21 at 4:06PM
MLS# 25014327
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 2,916-square-foot flex-space building includes a showroom, reception area, office, break room, storage, and warehouse space with overhead doors. The property was built in 1985 and features block, vinyl siding, and wood siding construction, a composition roof, forced-air heating, and two bathrooms. It was formerly used as an auto dealership and detail shop.
The 0.62-acre property is near downtown Jackson, Henry Ford, Jackson’s historic train station, shops, and restaurants. Access to US-127 and I-94 is also nearby. A deed restriction excludes oil change businesses.
The 0.62-acre property is near downtown Jackson, Henry Ford, Jackson’s historic train station, shops, and restaurants. Access to US-127 and I-94 is also nearby. A deed restriction excludes oil change businesses.
Key Highlights
- 2,916 square feet of flex‑space improvements
- 0.62‑acre property near downtown Jackson
- Showroom, reception area, office, break room, and storage
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
$27,389
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
6.86%
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%
$547,780
$547.8K
Cap Rate 7%
$391,271
$391.3K
Cap Rate 9%
$304,322
$304.3K
Market Conditions
NOI Build-Up for 2,916 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
$47.2K $16.20/SF
− Vacancy
−$5.1K −$1.75/SF
EGI
$42.1K $14.45/SF
− OpEx
−$14.7K −$5.06/SF
NOI
$27.4K $9.39/SF
Area
Jackson County, MI
Vacancy
10.80%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
35.00%
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%
$547,780
Cap Rate 7%
$391,271
Cap Rate 9%
$304,322
Alternative Uses
Best Use
Flex RnD
$391.3K
$342.4K – $456.5K
NOI $27,389 @ 7.0% cap · market cap 6.86%
Second Best
Industrial
$289.4K
$253.2K – $337.7K
NOI $20,259 @ 7.0% cap · market cap 5.08%
Theoretical Best
Office A
$465.5K
$407.3K – $543.1K
NOI $32,585 @ 7.0% cap · market cap 8.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
436
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49202, MI
19,359
Population
9,598
Households
2
Avg Household Size
37
Median Age
15%
College-Educated
91%
High-School Grad
12.7 sq mi
ZIP Area
1,524
Density / Sq Mi
$41,916
Median Household Income
$30,638
Median Earnings
$915
Median Rent
$104,100
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- The Hot Box — 200 Henrietta St, Jackson, MI 49203
Frequently Asked Questions
What type of property is this?
Flex space - Interior includes reception, office, break room, storage, and warehouse areas.
Where is this flex space located?
The property is located at 2005 E Michigan Avenue Jackson, MI.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 2,916 square feet of flex‑space improvements; 0.62‑acre property near downtown Jackson; Showroom, reception area, office, break room, and storage
