Pharmacy Building with
For Sale
Under Contract
$780,000
210 Hinckley Boulevard, Jackson, MI 49203
Commercial Sale, Jackson, MI
Property Size10,128 SF
Lot Size1.46 Acres
Price / SF$77.01
Days on Market569
Property Features for 210 Hinckley Boulevard
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
C-3
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Parking
46
Elementary school district
Vandercook Lake
Middle school district
Vandercook Lake
High school district
Vandercook Lake
Directions
Just west of Francis St, on the north side of Hinckley
Subdivision
Jackson County - JX
Standard status
Active Under Contract
APN
000-13-23-152-001-00
Size
10,128 SF
Lot size
1.46 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
A PCL OF LAND OWNED AND USED AS ONE PCL BEING A PART OF NE 1/4 OF SEC 22 and PART OF NW 1/4 OF SEC 23 T3S R1W AND PART
Tax Annual Amount
13069
Legal Description
A PCL OF LAND OWNED AND USED AS ONE PCL BEING A PART OF NE 1/4 OF SEC 22 and PART OF NW 1/4 OF SEC 23 T3S R1W AND PART
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1999
Floors in Building
1
Number of units
1
Building materials
Block, Stone
Roof type
Composition
Listing Agency:
ERA Reardon Realty, L.L.C.
(517) 782-2996
Listed By:
PHILLIP M MORGAN · License #6502108104
(517) 204-4385
Added: Feb 6, 2025
Changed: Aug 28
Last Checked: Aug 29 at 2:06AM
MLS# 25004469
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 10,128-square-foot pharmacy building offers a largely open interior configured for adaptable commercial use. The property was constructed in 1999 with block and stone materials, a composition roof, central air conditioning, and forced-air heating. Two bathrooms are included within the building.
The 1.46-acre site provides parking for 46 vehicles and includes drive-through capability. The property is identified at 210 Hinckley Boulevard in Jackson, Michigan, with a reported daily traffic count of 5,175 vehicles. Its commercial improvements and open floor plan support continued pharmacy use or other retail-oriented applications.
The 1.46-acre site provides parking for 46 vehicles and includes drive-through capability. The property is identified at 210 Hinckley Boulevard in Jackson, Michigan, with a reported daily traffic count of 5,175 vehicles. Its commercial improvements and open floor plan support continued pharmacy use or other retail-oriented applications.
Key Highlights
- 10,128 square feet with a largely open floor plan
- 1.46‑acre site with parking for 46 vehicles
- Drive‑through capability
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
$69,847
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
8.95%
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%
$1,396,940
$1.4M
Cap Rate 7%
$997,814
$997.8K
Cap Rate 9%
$776,078
$776.1K
Market Conditions
NOI Build-Up for 10,128 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
$121.5K $12.00/SF
− Vacancy
−$21.8K −$2.15/SF
EGI
$99.8K $9.85/SF
− OpEx
−$29.9K −$2.96/SF
NOI
$69.8K $6.90/SF
Area
Jackson County, MI
Vacancy
17.90%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,396,940
Cap Rate 7%
$997,814
Cap Rate 9%
$776,078
Alternative Uses
Best Use
Specialty Retail
$1.37M
$1.20M – $1.60M
NOI $96,229 @ 7.0% cap · market cap 12.34%
Second Best
Retail
$997.8K
$873.1K – $1.16M
NOI $69,847 @ 7.0% cap · market cap 8.95%
Theoretical Best
Office A
$1.62M
$1.41M – $1.89M
NOI $113,174 @ 7.0% cap · market cap 14.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5,175 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
132
Businesses Nearby
14k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 62%
Dining 19%
Home Improvements & Furnishings 19%
BP
Shops & Services
8,752 visits/mo
0.2 miles
SUBWAY
Dining
2,721 visits/mo
0.2 miles
Vandercook Ace Hardware
Home Improvements & Furnishings
2,631 visits/mo
0.1 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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Weatherwax Drug — 210 Hinckley Blvd, Jackson, MI 49203
- Weatherwax Pharmacies — 210 Hinckley Blvd, Jackson, MI 49203
- Julie L. Pariseau, RPH — 210 Hinckley Blvd, Jackson, MI 49203
- Stephanie Richmond — 210 Hinckley Blvd, Jackson, MI 492035313
- HypoCleanse — 3900 Francis St, Jackson, MI 49203
Frequently Asked Questions
What type of property is this?
Drug store - Open commercial layout with central air and forced-air heating.
Where is this drug store located?
The property is located at 210 Hinckley Boulevard Jackson, MI.
What is the asking price?
The asking price for this property is $780,000.
What are key features of this property?
This property features: 10,128 square feet with a largely open floor plan; 1.46‑acre site with parking for 46 vehicles; Drive‑through capability
