1226 E Mcdevitt Ave Vandercook, Lake, MI 49203

Building Details

Year Built 1891 More

Buildings 1 More

Stories 1 More

Units 1 More

Listing Agency: ERA REARDON REALTY, L.L.C.

Listed By: Brock Spink · License MI #6501409679 Show Phone

Source: Elliman

Added: Nov 8 Last Checked: Nov 8 at 4:38PM

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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.

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Investment Insights

Based on property information with market context.

This one-story storefront contains approximately 2,988 square feet on a 0.669-acre parcel in Summit Township. The building dates to 1891 and has accommodated a general store, an engineering office, and other local businesses. Its single-level configuration offers flexible commercial space, with land area available for parking.

The property fronts E McDevitt Ave, near US-127 and downtown Jackson. The avenue received pavement, water main, storm sewer, and sidewalk improvements in 2020. The parcel is commercially classified and lies within the Vandercook Lake school district.

Key Highlights

• Approximately 2,988 square feet in a one‑story building
• 0.669‑acre parcel with room for parking
• Located along the E McDevitt Ave commercial corridor

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$20,606

Cap Rate

9.16%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$412,120 $412.1K

Cap Rate 7%

$294,371 $294.4K

Cap Rate 9%

$228,956 $229.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,988 SF

Gross rent

$35.9K $12.00/SF

− Vacancy

−$6.4K −$2.15/SF

EGI

$29.4K $9.85/SF

− OpEx

−$8.8K −$2.96/SF

NOI

$20.6K $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%

$412,120

Cap Rate 7%

$294,371

Cap Rate 9%

$228,956

Alternative Uses

Best Use

Retail

$294.4K

$257.6K – $343.4K (±1% cap)

NOI $20,606 @ 7.0% cap · market cap 9.16%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$477.0K

$417.4K – $556.5K (±1% cap)

NOI $33,389 @ 7.0% cap · market cap 14.85%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Storefront properties

Suggested Use

Top Pick Real Estate Agency Law Firm Hair Salon Nail Salon Restaurant Electrical Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

121

Businesses Nearby

Under-served

Demand for This Use

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

Average Price Trend$/SF for Storefront properties in Jackson County, MI

$162 Jul

$127 Aug

$96.59 Sep

$95.87 Oct

Properties on Market for Storefront properties in Jackson County

Jul

Aug

Sep

Oct

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

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Frequently Asked Questions

What type of property is this?

Storefront property - The commercial parcel provides room for parking and sits along the E McDevitt Ave business corridor.

Where is this storefront property located?

The property is located at 1226 E Mcdevitt Ave Vandercook Lake, MI.

What is the asking price?

The asking price for this property is $224,900.

What are key features of this property?

This property features: Approximately 2,988 square feet in a one‑story building; 0.669‑acre parcel with room for parking; Located along the E McDevitt Ave commercial corridor