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    409-429 Hupp Avenue Jackson, MI 49201

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    Claim this Listing
    For Sale
    $900,000

    COMMERCIAL - Jackson, MI

    Type:Retail
    Property size:
    20,400 SF
    Lot size:
    1.41 Acres
    Price / SF:
    $44/SF
    Added:
    Jun 26, 2024
    Days on Market:
    676
    Last Refresh:
    May 2 at 8:06 pm

    Property Features for 409-429 Hupp Avenue

    General Information

    Property type
    Commercial Sale
    Property subtype
    Retail
    Bathrooms
    3
    Rooms
    Bathroom 1, Bathroom 3, Bathroom 2
    Parking
    72
    Standard status
    Active
    APN
    6-017600000
    Size
    20,400 SF
    Lot size
    1.41 Acres

    Taxes and HOA fees

    Tax Year
    2026
    Tax Description
    COM AT A PT ON N LN OF LIBERTY ST 204.67 FT S 81 DEG 37' E FROM NE COR OF LIBERTY & MILWAUKEE STREETS TH N 1 DEG 39' E
    Tax Annual Amount
    13755

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air
    Water front
    1

    Building Details

    Year built
    1918
    Floors in Building
    2
    Number of units
    2
    Building materials
    Brick, Metal Siding
    Roof type
    Rubber

    We can help!

    Listing Contact
    HEATHER HERNDON
    HEATHER HERNDON

    Listing agent HEATHER HERNDON License #6501335416

    Listing office Howard Hanna Real Estate Services 2131 Ferguson Rd Ste116, Jackson, MI

    Listing date Jun 26, 2024

    MLS# 24032620

    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.

    Overview

    Commercial Property Near Grand River

    This commercial property is situated across from a railroad station and one block from a hospital, with frontage on the Grand River. MDOT plans to add a walking path in 2025. The sale includes three parcels: two buildings and a parking lot with combined parking for up to 72 vehicles. Potential uses include a tech center, conference or event center, retail space, restaurant, condos, or apartments. Baseline phase 2 is recorded with the State. One building, located at 429 Hupp, is vacant. The other building, located at 409 Hupp, is currently occupied with a two-year lease that includes a 60-day termination clause by the seller. The property is located 40 minutes from Ann Arbor and 30 minutes from Lansing. The total lot size is 1.41 acres, and the property size is 20400 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Jackson
    County
    Jackson
    State
    Michigan
    Longitude
    -84.399519
    Latitude
    42.247153

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    FAQs

    What type of property is this?
    Retail property - Commercial property with development potential near the Grand River.
    Where is this retail property located?
    The property is located at 409-429 Hupp Avenue Jackson, MI.
    What is the asking price?
    The asking price for this property is $900,000.
    What are key features of this property?
    This property features: Prime location across from Railroad station and one block from the Hospital.; Includes 3 parcels: 2 buildings and a parking lot.; Parking for up to 72 vehicles.
    (517) 812-1641
    We can help!
    Listing Contact
    HEATHER HERNDON
    HEATHER HERNDON
    Real Estate License ID: 6501335416
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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    409-429 Hupp Avenue, Jackson, MI 49201

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