Brick Retail
1217 Greenwood Avenue, Jackson, MI 49203
For Sale
$199,900
Commercial Sale, Jackson, MI
Property Size2,200 SF
Lot Size0.48 Acres
Price / SF$90.86
Days on Market877
Property Features for 1217 Greenwood Avenue
General Information
Property type
Property subtype
Zoning description
Bathrooms
Full bathrooms
Rooms
Parking
Interior features
Subdivision
Elementary school district
Middle school district
High school district
Directions
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Heating system
Cooling system
Building Details
Year built
Floors in Building
Number of units
Building materials
Roof type
Listing Agency:
Howard Hanna Real Estate Services
(517) 787-9800
Listed By:
HEATHER HERNDON · License #6501335416
(517) 812-1641
Added: Jun 13, 2024
Changed: Oct 8
Last Checked: Nov 6 at 7:06PM
MLS# 24030047
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.
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Investment Insights
Based on property information with market context.
This 2,200-square-foot brick retail property was built in 1960 and includes an enclosed entry foyer, private offices, and one bathroom. Central air, forced-air heating, natural gas, broadband, and city water and sewer support ongoing commercial use. The building previously operated as a bank and later accommodated a cable company.
The 0.48-acre parcel has frontage on both Greenwood Avenue and First Street, with on-site parking. It is located in Jackson’s flat iron district, minutes from downtown and Ella Sharp Park. The layout and existing systems support retail, medical, and professional office applications.
The 0.48-acre parcel has frontage on both Greenwood Avenue and First Street, with on-site parking. It is located in Jackson’s flat iron district, minutes from downtown and Ella Sharp Park. The layout and existing systems support retail, medical, and professional office applications.
Key Highlights
- 2,200‑square‑foot brick commercial building constructed in 1960
- 0.48‑acre parcel with frontage on Greenwood Avenue and First Street
- Enclosed foyer, private offices, and one bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,172
Cap Rate
7.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$303,440
$303.4K
Cap Rate 7%
$216,743
$216.7K
Cap Rate 9%
$168,578
$168.6K
Market Conditions
NOI Build-Up for 2,200 SF
Gross rent
$26.4K $12.00/SF
− Vacancy
−$4.7K −$2.15/SF
EGI
$21.7K $9.85/SF
− OpEx
−$6.5K −$2.96/SF
NOI
$15.2K $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%
$303,440
Cap Rate 7%
$216,743
Cap Rate 9%
$168,578
Alternative Uses
Best Use
Office B
$263.4K
$230.5K – $307.3K
NOI $18,438 @ 7.0% cap · market cap 9.22%
Second Best
Retail
$216.7K
$189.7K – $252.9K
NOI $15,172 @ 7.0% cap · market cap 7.59%
Theoretical Best
Office A
$351.2K
$307.3K – $409.7K
NOI $24,584 @ 7.0% cap · market cap 12.30%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
294
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
$150,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Retail space in Jackson, MI
Properties on Market for Retail space in Jackson
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Retail space - Brick construction with an enclosed foyer, private offices, and central air.
Where is this retail space located?
The property is located at 1217 Greenwood Avenue Jackson, MI.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: 2,200‑square‑foot brick commercial building constructed in 1960; 0.48‑acre parcel with frontage on Greenwood Avenue and First Street; Enclosed foyer, private offices, and one bathroom
