Modern Industrial Facility with Eco-Friendly
For Sale
$5,900,000
2021 Wellworth, Jackson, MI 49203
71,815 sqft industrial facility with showroom, office, and warehouse space.
Property Size71,815 SF
Lot Size3.42 Acres
Price / SF$82.16
Days on Market837
Property Features for 2021 Wellworth
General Information
Standard status
Active
Size
71,815 SF
Lot size
3.42 Acres
Taxes and HOA fees
Annual Taxes
$132,045
Listing Agency:
ERA Reardon Realty, L.L.C.
(517) 204-4385
Listed By:
PHILLIP M MORGAN · License #6502108104
(517) 204-4385
Source:
Exprealty
Added: May 7, 2024
Changed: Aug 20
Last Checked: Aug 21 at 1:34PM
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.
The property at 2021 Wellworth Street is a modern industrial facility situated on 3.42 acres in Jackson, Michigan. Constructed in 2009, the Energy Star rated building offers 71,815 square feet of flexible space suitable for industrial, warehousing, and office purposes. The layout includes a 1,745 sqft showroom, 10,570 sqft of office space, and a 59,500 sqft shop/warehouse area featuring 30-foot clear height ceilings and five grade-level docks. The facility is equipped with a 1200 Amp I-Line Square D Panel with 480Y/277v 120v 3PH 4W, a fire suppression system, LED lighting with daylight harvesting and occupancy controls, solar-tracking skylights, and insulation. The shop/warehouse contains buss duct, compressed air, and a paint booth. A whole building generator ensures continuous operation. Additional features include a Bosch certified clean room, administrative offices, meeting/class rooms, and a break room. The energy-efficient glass entry showroom includes a water feature and an elevator. A suspended 0.7mi walking track is also present. The property is accessible to newly improved highways, a federally expanded airport, and rail lines.
Key Highlights
- Large, flexible industrial space: 71,815 sqft including a 59,500 sqft shop/warehouse with 30‑foot ceilings.
- Eco‑friendly and energy‑efficient: Energy Star rated with LED lighting, daylight harvesting, solar‑tracking skylights, and super multi‑blanket insulation.
- High power capacity: 1200 Amp I‑Line Square D Panel.**
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
$498,933
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
8.46%
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%
$9,978,660
$10.0M
Cap Rate 7%
$7,127,614
$7.1M
Cap Rate 9%
$5,543,700
$5.5M
Market Conditions
NOI Build-Up for 71,815 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
$792.8K $11.04/SF
− Vacancy
−$80.1K −$1.12/SF
EGI
$712.8K $9.92/SF
− OpEx
−$213.8K −$2.98/SF
NOI
$498.9K $6.95/SF
Area
Jackson County, MI
Vacancy
10.10%
Lease Rate
$11.04 /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%
$9,978,660
Cap Rate 7%
$7,127,614
Cap Rate 9%
$5,543,700
Alternative Uses
Best Use
Warehouse
$8.65M
$7.57M – $10.10M
NOI $605,847 @ 7.0% cap · market cap 10.27%
Second Best
Office B
$8.60M
$7.52M – $10.03M
NOI $601,867 @ 7.0% cap · market cap 10.20%
Theoretical Best
Office A
$11.46M
$10.03M – $13.37M
NOI $802,490 @ 7.0% cap · market cap 13.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
168
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
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Industrial property - 71,815 sqft industrial facility with showroom, office, and warehouse space.
Where is this industrial property located?
The property is located at 2021 Wellworth Jackson, MI.
What is the asking price?
The asking price for this property is $5,900,000.
What are key features of this property?
This property features: Large, flexible industrial space: **71,815 sqft including a 59,500 sqft shop/warehouse with 30‑foot ceilings.**; Eco‑friendly and energy‑efficient: Energy Star rated with LED lighting, daylight harvesting, solar‑tracking skylights, and super multi‑blanket insulation.; High power capacity: 1200 Amp I‑Line Square D Panel.**
