Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    111 West Prospect Street Jackson, MI 49203

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Retail neighborhood center with 4300 SF available.

    Type:Office
    Property size:
    26,000 SF
    Added:
    Jan 27, 2026
    Days on Market:
    67
    Last Refresh:
    Apr 1 at 11:19 pm

    Property Features for 111 West Prospect Street

    General Information

    Standard status
    Active
    Size
    26,000 SF
    Property subtype
    Office

    Properties For Sale

    at 111 West Prospect Street Contact us

    We can help!

    Listing Contact
    Scott Adams

    Listing agent Scott Adams

    Listing office

    Listing date Jan 27, 2026

    Source Naiglobal

    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 Scott Adams

    Overview

    Retail Neighborhood Center For Sale

    This retail neighborhood center offers 4,300 square feet of available space. The property is located at the corner of West Prospect Street and Martin Luther King Jr. Drive. It is situated in a busy neighborhood center next to Family Dollar and CSL Plasma, and features ample parking. The property has a total size of 26,000 square feet.
    Location Intelligence

    Current Use by Public Records

    Shopping centers

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Jackson
    County
    Jackson
    State
    Michigan
    Longitude
    -84.4014
    Latitude
    42.2271

    Nearby Similar for Sale

    • $399,000
      3,016 SF

      Commercial Building on 4 Acres

      3,000 sq ft building on 4 acres in Jackson.
      130 East Street, Jackson, MI 49201
      View Details
    • $335,000
      2,830 SF

      Freestanding Retail Banking Facility

      2,830 SF building on 0.56 acres in Jackson, MI.
      2815 E Michigan Avenue, Jackson, MI 49202
      View Details
    • $650,000
      2,936 SF

      Jackson, MI Retail Opportunity

      Corner lot near downtown and hospital with high traffic.
      1712 E Michigan Avenue, Jackson, MI 49202
      View Details
    • $650,000
      1,731 SF

      Downtown Jackson Commercial Property For Sale

      Corner lot near Consumers Energy and historic train station.
      301 S Cooper Street, Jackson, MI 49201
      View Details
    • $499,900
      18,297 SF

      Downtown Commercial Building with Elevator

      18,000 sq ft commercial building in downtown Jackson, MI.
      145 S Jackson Street, Jackson, MI 49201
      View Details
    • $399,000
      3,016 SF

      Retail Opportunity in Jackson, MI

      Retail property for sale in Jackson, Michigan with 3,016 SF.
      130 East Street, Jackson, MI 49201
      View Details
    • $749,000
      9,720 SF

      Versatile Commercial Space with Updates

      Updated commercial space with banquet facility, kitchen, and offices.
      3010 Wildwood Avenue, Jackson, MI 49202
      View Details
    • $395,000
      2,640 SF

      High-Traffic Corner Location in Jackson

      Commercial opportunity with office building and pole barn on 0.55 acres.
      2000 W Ganson Street, Jackson, MI 49202
      View Details
    • $125,000
      240 SF

      High-Visibility Commercial Opportunity

      Prime auto sales lot with exceptional traffic and visibility.
      6006 Ann Arbor Road, Jackson, MI 49201
      View Details
    • $699,000
      6,080 SF

      Turnkey Industrial/Cannabis Cultivation Facility

      6,080 sq ft industrial building ready for cannabis cultivation.
      5028 Page Avenue, Jackson, MI 49201
      View Details
    • $450,000
      3,800 SF

      Industrial Building in Green Zone

      3,800 sqft industrial building in Jackson, Michigan for sale.
      240 Watts Road, Jackson, MI 49203
      View Details
    • $799,000
      15,840 SF

      Jackson Retail Opportunity

      Retail space available in Jackson, Michigan.
      100 W Washington Avenue, Jackson, MI 49201
      View Details

    FAQs

    What type of property is this?
    Shopping center - Retail neighborhood center with 4300 SF available.
    Where is this shopping center located?
    The property is located at 111 West Prospect Street Jackson, MI.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: High‑traffic location at the corner of West Prospect and Martin Luther King Jr Dr.; Part of a busy neighborhood retail center.; 4300 sq ft of available retail space.
    (517) 487-9222
    We can help!
    Listing Contact
    Scott Adams
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!