Multi-Suite Office
For Sale
$1,500,000
2532 Spring Arbor Road, Jackson, MI 49203
COMMERCIAL - Jackson, MI
Property Size5,762 SF
Lot Size1.21 Acres
Price / SF$260.33
Days on Market46
Property Features for 2532 Spring Arbor Road
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
201- COMMERCIAL
Bathrooms
6
Full bathrooms
6
Rooms
Bathroom 3, Bathroom 6, Bathroom 4, Bathroom 2, Bathroom 1, Bathroom 5
Parking
35
Interior features
Broadband
Elementary school district
Jackson
Middle school district
Jackson
High school district
Jackson
Directions
Just east of M60 split on north side of road.
Standard status
Active
APN
000-13-08-226-009-00
Size
5,762 SF
Lot size
1.21 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Per Recorded Deed
Tax Annual Amount
5808
Legal Description
Per Recorded Deed
Utilities
Utilities
Cable Available
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1964
Floors in Building
2
Number of units
4
Building materials
Block, Wood Siding, Brick
Roof type
Rubber
Listing Agency:
Coldwell Banker Groves Real Estate
(517) 439-1511
Listed By:
Timothy Groves
(517) 398-1514
Added: Jul 21
Changed: Aug 4
Last Checked: Sep 4 at 5:06AM
MLS# 26040268
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 5,762-square-foot office building includes four suites with varying layouts, numerous private offices, and six bathrooms. Much of the interior has been remodeled, and one suite is currently leased while the other spaces can accommodate an owner-user or additional tenants. The property is constructed with block, wood siding, and brick, with forced-air heat, central air, a rubber roof, broadband, and cable availability.
Set on 1.21 acres at 2532 Spring Arbor Road in Jackson, the property includes ample parking and is situated within an established business district. O-1 zoning supports its professional office orientation. The building dates to 1964 and may qualify for Brownfield tax abatement under MI Act 381; terms and transferability are subject to buyer verification with Summit Township. Stated potential uses include medical, legal, financial, insurance, counseling, and other professional offices.
Set on 1.21 acres at 2532 Spring Arbor Road in Jackson, the property includes ample parking and is situated within an established business district. O-1 zoning supports its professional office orientation. The building dates to 1964 and may qualify for Brownfield tax abatement under MI Act 381; terms and transferability are subject to buyer verification with Summit Township. Stated potential uses include medical, legal, financial, insurance, counseling, and other professional offices.
Key Highlights
- 5,762‑square‑foot office building on 1.21 acres
- Four office suites with varying sizes and numerous private offices
- One suite is currently leased; remaining spaces are available for occupancy or additional tenants
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
$48,290
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
3.22%
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%
$965,800
$965.8K
Cap Rate 7%
$689,857
$689.9K
Cap Rate 9%
$536,556
$536.6K
Market Conditions
NOI Build-Up for 5,762 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
$83.0K $14.40/SF
− Vacancy
−$18.6K −$3.23/SF
EGI
$64.4K $11.17/SF
− OpEx
−$16.1K −$2.79/SF
NOI
$48.3K $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%
$965,800
Cap Rate 7%
$689,857
Cap Rate 9%
$536,556
Alternative Uses
Best Use
Office B
$689.9K
$603.6K – $804.8K
NOI $48,290 @ 7.0% cap · market cap 3.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$919.8K
$804.8K – $1.07M
NOI $64,387 @ 7.0% cap · market cap 4.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Office units
Location Intelligence
Trade Area within ½ mile
308
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 - Four suites support owner occupancy, leasing, and a range of professional office uses.
Where is this office building located?
The property is located at 2532 Spring Arbor Road Jackson, MI.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 5,762‑square‑foot office building on 1.21 acres; Four office suites with varying sizes and numerous private offices; One suite is currently leased; remaining spaces are available for occupancy or additional tenants
