Leased Warehouse
For Sale
$1,637,000
1051 Hurst Rd, Jackson, MI 49203
For sale warehouse leased to FedEx Express Corporation with BBB credit and a listed 8.25% cap rate.
Property Size19,530 SF
Days on Market124
Property Features for 1051 Hurst Rd
General Information
Standard status
Active
Size
19,530 SF
Property subtype
Commercial
Lease Term
±2 YRS
Additional Details
Cap Rate
8.25%
Building Details
Building Size
19,530 SF
Year Built
1998
Listing Agency:
Matthews
Listed By:
Alexander Harrold · License #02009656 (CA)
(310) 919-5790
Source:
Matthews
Added: May 8
Changed: Sep 8
Last Checked: Sep 7 at 12:45PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Matthews
Investment Insights
Based on property information with market context.
This for-sale warehouse/distribution facility is offered as a leased investment. The property is marketed with FedEx Express Corporation as the tenant and BBB credit, with an indicated 8.25% cap rate. The building size is listed at 19,530 square feet.
The property is located at 1051 Hurst Road in Jackson, Michigan 49201. For additional details on the lease terms and operating information, interested parties should request the offering materials.
The property is located at 1051 Hurst Road in Jackson, Michigan 49201. For additional details on the lease terms and operating information, interested parties should request the offering materials.
Key Highlights
- Warehouse built in 1998
- Leased to FedEx Express Corporation
- Leased tenant listed with BBB credit
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
$135,684
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
8.29%
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%
$2,713,680
$2.7M
Cap Rate 7%
$1,938,343
$1.9M
Cap Rate 9%
$1,507,600
$1.5M
Market Conditions
NOI Build-Up for 19,530 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
$215.6K $11.04/SF
− Vacancy
−$21.8K −$1.12/SF
EGI
$193.8K $9.92/SF
− OpEx
−$58.2K −$2.98/SF
NOI
$135.7K $6.95/SF
Area
Jackson County, MI
Vacancy
10.10%
Lease Rate
$11.04 /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%
$2,713,680
Cap Rate 7%
$1,938,343
Cap Rate 9%
$1,507,600
Alternative Uses
Best Use
Warehouse
$2.35M
$2.06M – $2.75M
NOI $164,759 @ 7.0% cap · market cap 10.06%
Second Best
Industrial
$1.94M
$1.70M – $2.26M
NOI $135,684 @ 7.0% cap · market cap 8.29%
Theoretical Best
Office A
$3.12M
$2.73M – $3.64M
NOI $218,236 @ 7.0% cap · market cap 13.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
76
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 Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Distribution center - For sale warehouse leased to FedEx Express Corporation with BBB credit and a listed 8.25% cap rate.
Where is this distribution center located?
The property is located at 1051 Hurst Rd Jackson, MI.
What is the asking price?
The asking price for this property is $1,637,000.
What are key features of this property?
This property features: Warehouse built in 1998; Leased to FedEx Express Corporation; Leased tenant listed with BBB credit
