Restaurant and Laundromat Retail
For Sale
$799,900
1202-1206 Martin Luther King Junior Drive, Jackson, MI 49203
COMMERCIAL - Jackson, MI
Property Size5,460 SF
Lot Size1.01 Acres
Price / SF$146.50
Days on Market130
Property Features for 1202-1206 Martin Luther King Junior Drive
General Information
Property type
Commercial Sale
Property subtype
Retail
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Interior features
Broadband
Elementary school district
Jackson
Middle school district
Jackson
High school district
Jackson
Directions
W High St to MLK Jr Dr
Standard status
Active
APN
#5-0699.1000
Size
5,460 SF
Lot size
1.01 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
698, 699, 700, 701, 702, 703 S 42 FT OF LOT 10 ALL OF LOTS 11, 12, 13, 14 & 15 BLK 2 MERRIMAN'S ADD
Tax Annual Amount
7478
Legal Description
698, 699, 700, 701, 702, 703 S 42 FT OF LOT 10 ALL OF LOTS 11, 12, 13, 14 & 15 BLK 2 MERRIMAN'S ADD
Utilities
Utilities
Cable Available
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
2002
Floors in Building
1
Number of units
2
Building materials
Brick, Metal Siding
Roof type
Metal
Listing Agency:
Coldwell Banker Beiswanger Realty Group
(517) 435-1500
Listed By:
Jordon Jarrett · License #6501378237
(517) 795-6044
Added: Apr 14
Changed: Aug 4
Last Checked: Aug 21 at 5:06PM
MLS# 26015400
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 commercial property includes an open concept deli with a fully equipped kitchen. The deli space is paired with a neighboring operational laundromat, and the laundromat equipment is included with the sale.
In addition to the main building, the property also includes three additional parcels. The address is 1202–1206 Martin Luther King Jr. Drive in Jackson, Michigan (49203), in Jackson County.
In addition to the main building, the property also includes three additional parcels. The address is 1202–1206 Martin Luther King Jr. Drive in Jackson, Michigan (49203), in Jackson County.
Key Highlights
- Commercial property at 1202‑1206 Martin Luther King Jr. Drive, Jackson, MI
- Open concept deli with a fully equipped kitchen
- On‑site laundromat with equipment included and currently operational
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
$51,877
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
6.49%
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%
$1,037,540
$1.0M
Cap Rate 7%
$741,100
$741.1K
Cap Rate 9%
$576,411
$576.4K
Market Conditions
NOI Build-Up for 5,460 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
$75.3K $13.80/SF
− Vacancy
−$6.2K −$1.13/SF
EGI
$69.2K $12.67/SF
− OpEx
−$17.3K −$3.17/SF
NOI
$51.9K $9.50/SF
Area
Jackson County, MI
Vacancy
8.20%
Lease Rate
$13.80 /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%
$1,037,540
Cap Rate 7%
$741,100
Cap Rate 9%
$576,411
Alternative Uses
Best Use
Specialty Retail
$741.1K
$648.5K – $864.6K
NOI $51,877 @ 7.0% cap · market cap 6.49%
Second Best
Retail
$537.9K
$470.7K – $627.6K
NOI $37,654 @ 7.0% cap · market cap 4.71%
Theoretical Best
Office A
$871.6K
$762.7K – $1.02M
NOI $61,012 @ 7.0% cap · market cap 7.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
292
Businesses Nearby
4k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 46%
Dining 35%
Home Improvements & Furnishings 19%
AutoZone
Shops & Services
1,883 visits/mo
0.2 miles
Domino's Pizza
Dining
1,452 visits/mo
0.2 miles
Johnstone Supply
Home Improvements & Furnishings
761 visits/mo
0.4 miles
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 Retail 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?
Grocery and convenience store - Open concept deli space with a fully equipped kitchen, adjacent to an operational laundromat with equipment included.
Where is this grocery and convenience store located?
The property is located at 1202-1206 Martin Luther King Junior Drive Jackson, MI.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: Commercial property at 1202‑1206 Martin Luther King Jr. Drive, Jackson, MI; Open concept deli with a fully equipped kitchen; On‑site laundromat with equipment included and currently operational
