High-Visibility Corner Lot Retail
For Sale
$650,000
1712 E Michigan Ave, Jackson, MI 49202
Retail/service property with high traffic, ample parking, convenient location.
Property Size2,936 SF
Lot Size0.69 Acres
Price / SF$221.39
Days on Market146
Property Features for 1712 E Michigan Ave
General Information
Standard status
Active
Size
2,936 SF
Lot size
0.69 Acres
Property subtype
Commercial
Building Details
Year Built
1952
Listing Agency:
Creekstone Realty
(248) 762-9186
Listed By:
Sean Konja · License #6502408794
(248) 762-9186
Source:
Elliman
Added: Mar 31
Changed: Jul 6
Last Checked: Aug 22 at 10:43AM
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 Creekstone Realty
Investment Insights
Based on property information with market context.
This property, situated on a corner lot, offers high visibility with an average daily traffic count of 10,218. The 0.69-acre site is a short 5-minute drive to downtown Jackson and near Henry Ford Jackson Hospital, with convenient access to both US-127 and I-94. The one-story building features 2,936 square feet of space and a parking lot with space for over 20 vehicles. Formerly a bank, the property is zoned PB (Planned Building Group Shopping Center), which allows for a variety of retail and service-based uses.
Key Highlights
- High‑visibility corner lot sees significant daily traffic (10,218).
- Favorable PB zoning allows for diverse retail/service uses.
- Conveniently located 5 minutes from downtown Jackson and near Henry Ford Jackson Hospital.
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
$27,896
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
4.29%
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%
$557,920
$557.9K
Cap Rate 7%
$398,514
$398.5K
Cap Rate 9%
$309,956
$310.0K
Market Conditions
NOI Build-Up for 2,936 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
$40.5K $13.80/SF
− Vacancy
−$3.3K −$1.13/SF
EGI
$37.2K $12.67/SF
− OpEx
−$9.3K −$3.17/SF
NOI
$27.9K $9.50/SF
Area
Jackson County, MI
Vacancy
8.20%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
25.00%
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%
$557,920
Cap Rate 7%
$398,514
Cap Rate 9%
$309,956
Alternative Uses
Best Use
Specialty Retail
$398.5K
$348.7K – $464.9K
NOI $27,896 @ 7.0% cap · market cap 4.29%
Second Best
Retail
$289.3K
$253.1K – $337.5K
NOI $20,248 @ 7.0% cap · market cap 3.12%
Theoretical Best
Office A
$468.7K
$410.1K – $546.8K
NOI $32,808 @ 7.0% cap · market cap 5.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
918
Businesses Nearby
51k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 51%
Shops & Services 49%
Burger King
Dining
13,430 visits/mo
0.1 miles
Little Caesars Pizza
Dining
9,088 visits/mo
0.3 miles
Dollar General
Shops & Services
7,574 visits/mo
0.5 miles
Family Dollar
Shops & Services
6,181 visits/mo
0.1 miles
Marathon
Shops & Services
5,018 visits/mo
0.1 miles
Demographics for 49202, MI
19,359
Population
9,598
Households
2
Avg Household Size
37
Median Age
15%
College-Educated
91%
High-School Grad
12.7 sq mi
ZIP Area
1,524
Density / Sq Mi
$41,916
Median Household Income
$30,638
Median Earnings
$915
Median Rent
$104,100
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.
Frequently Asked Questions
What type of property is this?
Bank - Retail/service property with high traffic, ample parking, convenient location.
Where is this bank located?
The property is located at 1712 E Michigan Ave Jackson, MI.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: High‑visibility corner lot sees significant daily traffic (10,218).; Favorable PB zoning allows for diverse retail/service uses.; Conveniently located 5 minutes from downtown Jackson and near Henry Ford Jackson Hospital.
