Storefront Property with Lease
1203 1st St, Jackson, MI 49203
For Sale
$550,000
Existing lease configuration options provide flexibility for commercial occupancy.
Property Size6,440 SF
Lot Size0.87 Acres
Days on Market11
Property Features for 1203 1st St
General Information
Standard status
Size
Lot size
Property subtype
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listed By:
Byron Suggs · License #6501360318
(248) 301-9444
Source:
Elliman
Added: Oct 28
Changed: Nov 6
Last Checked: Nov 6 at 11:02AM
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 Byron Suggs
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This storefront property was built in 1975 and sits on a 0.87-acre parcel measuring 125 by 220 feet. Existing lease configuration options offer flexibility in how the commercial space is arranged.
The property has a BikeScore of 68, rated Bikeable, and a WalkScore of 49, rated Car-Dependent.
The property has a BikeScore of 68, rated Bikeable, and a WalkScore of 49, rated Car-Dependent.
Key Highlights
- 0.87‑acre parcel measuring 125 by 220 feet
- Commercial property built in 1975
- Existing lease configuration options
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,413
Cap Rate
8.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$888,260
$888.3K
Cap Rate 7%
$634,471
$634.5K
Cap Rate 9%
$493,478
$493.5K
Market Conditions
NOI Build-Up for 6,440 SF
Gross rent
$77.3K $12.00/SF
− Vacancy
−$13.8K −$2.15/SF
EGI
$63.4K $9.85/SF
− OpEx
−$19.0K −$2.96/SF
NOI
$44.4K $6.90/SF
Area
Jackson County, MI
Vacancy
17.90%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$888,260
Cap Rate 7%
$634,471
Cap Rate 9%
$493,478
Alternative Uses
Best Use
Retail
$634.5K
$555.2K – $740.2K
NOI $44,413 @ 7.0% cap · market cap 8.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.03M
$899.5K – $1.20M
NOI $71,963 @ 7.0% cap · market cap 13.08%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
294
Businesses Nearby
51k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 71%
Shops & Services 29%
Wendy's
Dining
14,006 visits/mo
0.4 miles
McDonald's
Dining
13,255 visits/mo
0.4 miles
Citgo
Shops & Services
8,241 visits/mo
0.4 miles
Little Caesars Pizza
Dining
7,193 visits/mo
0.4 miles
Mobil
Shops & Services
4,237 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
$150,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Storefront properties in Jackson, MI
Properties on Market for Storefront properties in Jackson
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Storefront property - Existing lease configuration options provide flexibility for commercial occupancy.
Where is this storefront property located?
The property is located at 1203 1st St Jackson, MI.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 0.87‑acre parcel measuring 125 by 220 feet; Commercial property built in 1975; Existing lease configuration options
