Renovated Office Building with
For Sale
$350,000
2320 Francis Street, Jackson, MI 49203
COMMERCIAL - Jackson, MI
Property Size1,824 SF
Lot Size0.72 Acres
Price / SF$191.89
Days on Market199
Property Features for 2320 Francis Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
C1
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Parking
25
Interior features
Broadband
Elementary school district
Jackson
Middle school district
Jackson
High school district
Jackson
Directions
On Francis St South of South St
Subdivision
Jackson County - JX
Standard status
Active
APN
130-13-10-428-001-00
Size
1,824 SF
Lot size
0.72 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Lots 1,2 & 3 of Avondale Subdivision & Lots 1 & 2 EXC THE N 50 FT OF LOT 2 CARSON'S SUBDIVISON
Tax Annual Amount
1149
Legal Description
Lots 1,2 & 3 of Avondale Subdivision & Lots 1 & 2 EXC THE N 50 FT OF LOT 2 CARSON'S SUBDIVISON
Utilities
Utilities
Cable Available
Heating system
Forced Air
Cooling system
Central Air
Amenities
vault
detached garage
Building Details
Year built
1970
Floors in Building
1
Number of units
2
Building materials
Wood Siding, Brick
Listing Agency:
ERA Reardon Realty, L.L.C.
(517) 782-2996
Listed By:
FRED M HETHERWICK · License #6502120657
(517) 206-0459
Added: Jan 22
Changed: Aug 4
Last Checked: Aug 9 at 8:06PM
MLS# 26002701
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 freshly renovated office building is offered for sale and includes a vault plus a detached garage for additional on-site storage or parking support. The property is set on 0.72 acres and contains 1,824 square feet.
Located on Francis Street in Jackson, Michigan, the building fronts a busy street, providing direct access and convenient street-level presence for office users.
The existing improvements support an office configuration, with the vault and detached garage included as part of the property’s documented features.
Located on Francis Street in Jackson, Michigan, the building fronts a busy street, providing direct access and convenient street-level presence for office users.
The existing improvements support an office configuration, with the vault and detached garage included as part of the property’s documented features.
Key Highlights
- Freshly renovated office building
- Built in 1970
- Wood siding and brick construction
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
$15,287
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
4.37%
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%
$305,740
$305.7K
Cap Rate 7%
$218,386
$218.4K
Cap Rate 9%
$169,856
$169.9K
Market Conditions
NOI Build-Up for 1,824 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
$26.3K $14.40/SF
− Vacancy
−$5.9K −$3.23/SF
EGI
$20.4K $11.17/SF
− OpEx
−$5.1K −$2.79/SF
NOI
$15.3K $8.38/SF
Area
Jackson County, MI
Vacancy
22.40%
Lease Rate
$14.40 /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%
$305,740
Cap Rate 7%
$218,386
Cap Rate 9%
$169,856
Alternative Uses
Best Use
Office B
$218.4K
$191.1K – $254.8K
NOI $15,287 @ 7.0% cap · market cap 4.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$291.2K
$254.8K – $339.7K
NOI $20,382 @ 7.0% cap · market cap 5.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
98
Businesses Nearby
Explore this area
Business Placement
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 Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Freshly renovated office building on a busy street, featuring a vault and a detached garage.
Where is this office building located?
The property is located at 2320 Francis Street Jackson, MI.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Freshly renovated office building; Built in 1970; Wood siding and brick construction
