Retail Pharmacy Building For
For Sale
$780,000
210 Hinckley Blvd, Jackson, MI 49203
Modern, well-equipped retail space in prime location with high visibility.
Property Size10,128 SF
Lot Size1.46 Acres
Price / SF$77.01
Days on Market561
Property Features for 210 Hinckley Blvd
General Information
Standard status
Active
Size
10,128 SF
Lot size
1.46 Acres
Taxes and HOA fees
Annual Taxes
$13,068
Listing Agency:
ERA Reardon Realty, L.L.C.
(517) 204-4385
Listed By:
PHILLIP M MORGAN · License #6502108104
(517) 204-4385
Source:
Exprealty
Added: Feb 6, 2025
Changed: Aug 19
Last Checked: Aug 20 at 10:09AM
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 ERA Reardon Realty, L.L.C.
Investment Insights
Based on property information with market context.
A retail pharmacy building is available for sale, offering an opportunity for business operations. The building features 10,128 square feet of modern, well-equipped retail space. It is currently operating as a pharmacy. The property is situated in Vandercook Lake, benefiting from premium visibility and a daily traffic count of 5,175 vehicles per day. The commercial space is convertible and includes parking with 46 spaces and a drive-thru window. Furniture, fixtures, and equipment are negotiable. Another store is available in Spring Arbor at 8012 Spring Arbor Rd, which can be purchased separately or together.
Key Highlights
- Prime location in Vandercook Lake with high visibility and significant daily traffic (5,175 vehicles/day).
- Large, modern, and well‑equipped retail space (10,128 sqft) currently operating as a pharmacy.
- Convertible commercial space with ample parking (46 spaces) and a drive‑thru window.
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
$69,847
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
8.95%
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%
$1,396,940
$1.4M
Cap Rate 7%
$997,814
$997.8K
Cap Rate 9%
$776,078
$776.1K
Market Conditions
NOI Build-Up for 10,128 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
$121.5K $12.00/SF
− Vacancy
−$21.8K −$2.15/SF
EGI
$99.8K $9.85/SF
− OpEx
−$29.9K −$2.96/SF
NOI
$69.8K $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 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%
$1,396,940
Cap Rate 7%
$997,814
Cap Rate 9%
$776,078
Alternative Uses
Best Use
Specialty Retail
$1.37M
$1.20M – $1.60M
NOI $96,229 @ 7.0% cap · market cap 12.34%
Second Best
Retail
$997.8K
$873.1K – $1.16M
NOI $69,847 @ 7.0% cap · market cap 8.95%
Theoretical Best
Office A
$1.62M
$1.41M – $1.89M
NOI $113,174 @ 7.0% cap · market cap 14.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
132
Businesses Nearby
14k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 62%
Dining 19%
Home Improvements & Furnishings 19%
BP
Shops & Services
8,752 visits/mo
0.2 miles
SUBWAY
Dining
2,721 visits/mo
0.2 miles
Vandercook Ace Hardware
Home Improvements & Furnishings
2,631 visits/mo
0.1 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.
Similar Off Market Nearby
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- Stephanie Richmond — 210 Hinckley Blvd, Jackson, MI 492035313
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Frequently Asked Questions
What type of property is this?
Drug store - Modern, well-equipped retail space in prime location with high visibility.
Where is this drug store located?
The property is located at 210 Hinckley Blvd Jackson, MI.
What is the asking price?
The asking price for this property is $780,000.
What are key features of this property?
This property features: Prime location in Vandercook Lake with **high visibility** and significant daily traffic (5,175 vehicles/day).; Large, modern, and **well‑equipped retail space** (10,128 sqft) currently operating as a pharmacy.; Convertible commercial space with ample parking (46 spaces) and a drive‑thru window.
