Updated Office
New
For Sale
$985,000
110 1st Street, Jackson, MI 49201
Commercial Sale, Jackson, MI
Property Size9,962 SF
Lot Size0.79 Acres
Price / SF$98.88
Days on Market3
Property Features for 110 1st Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
C-3
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bathroom 3, Bathroom 1
Parking
53
Elementary school district
Jackson
Middle school district
Jackson
High school district
Jackson
Standard status
Active
APN
3-0059.3000
Size
9,962 SF
Lot size
0.79 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
0060.1, 0063, 0065, 0068, 0069 0058.2, 0059.1 LOT 1, ALL OF LOT 6 EX N 22 FT OF W 1/2, ALSO ALL THAT PART OF FOLLOWING:
Tax Annual Amount
17260
Legal Description
0060.1, 0063, 0065, 0068, 0069 0058.2, 0059.1 LOT 1, ALL OF LOT 6 EX N 22 FT OF W 1/2, ALSO ALL THAT PART OF FOLLOWING:
Utilities
Utilities
Phone Available
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1977
Floors in Building
1
Number of units
2
Building materials
Brick
Roof type
Rubber
Listing Agency:
ERA Reardon Realty, L.L.C.
(517) 782-2996
Listed By:
PHILLIP M MORGAN · License #6502108104
(517) 204-4385
Added: Sep 8
Changed: Sep 10
Last Checked: Sep 10 at 10:06AM
MLS# 26047620
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 9,962-square-foot office building sits on 0.79 acres and was constructed in 1977. The brick property has been updated and includes forced-air heating, central air, a rubber roof, phone availability, and three bathrooms. Its layout supports continued multi-tenant use while allowing flexibility for an owner-user.
Located at 110 1st Street in Downtown Jackson, the building is currently 100% occupied by two established tenants: a US Congressman's office and a professional accounting firm. The leases generate a 14% cap rate. The accounting firm is willing to relocate if a new owner requires space, creating the possibility of combining business operations with ongoing rental income.
Located at 110 1st Street in Downtown Jackson, the building is currently 100% occupied by two established tenants: a US Congressman's office and a professional accounting firm. The leases generate a 14% cap rate. The accounting firm is willing to relocate if a new owner requires space, creating the possibility of combining business operations with ongoing rental income.
Key Highlights
- 9,962‑square‑foot office building on 0.79 acres
- 100% occupied by two established tenants
- Leases generate a 14% cap rate
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
$83,490
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
8.48%
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%
$1,669,800
$1.7M
Cap Rate 7%
$1,192,714
$1.2M
Cap Rate 9%
$927,667
$927.7K
Market Conditions
NOI Build-Up for 9,962 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
$143.5K $14.40/SF
− Vacancy
−$32.1K −$3.23/SF
EGI
$111.3K $11.17/SF
− OpEx
−$27.8K −$2.79/SF
NOI
$83.5K $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%
$1,669,800
Cap Rate 7%
$1,192,714
Cap Rate 9%
$927,667
Alternative Uses
Best Use
Office B
$1.19M
$1.04M – $1.39M
NOI $83,490 @ 7.0% cap · market cap 8.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.59M
$1.39M – $1.86M
NOI $111,319 @ 7.0% cap · market cap 11.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,473
Businesses Nearby
Explore this area
Business Placement
Demographics for 49201, MI
47,747
Population
18,102
Households
2.6
Avg Household Size
41
Median Age
23%
College-Educated
92%
High-School Grad
155.0 sq mi
ZIP Area
308
Density / Sq Mi
$71,714
Median Household Income
$36,390
Median Earnings
$945
Median Rent
$202,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Fully occupied office property with two tenants, updated interiors, and potential for owner occupancy.
Where is this office building located?
The property is located at 110 1st Street Jackson, MI.
What is the asking price?
The asking price for this property is $985,000.
What are key features of this property?
This property features: 9,962‑square‑foot office building on 0.79 acres; 100% occupied by two established tenants; Leases generate a 14% cap rate
