Medical Office
For Sale
$425,000
2009 W Michigan Ave, Jackson, MI 49202
Purpose-built clinical layout across from Westwood Mall with dedicated parking and professional office functionality.
Property Size1,865 SF
Price / SF$227.88
Days on Market10
Property Features for 2009 W Michigan Ave
General Information
Standard status
Active
Size
1,865 SF
Total Parking Spaces
16
Building Details
Year Built
1980
Buildings
1
Building Size
1,865 SF
Listing Agency:
ERA Reardon Realty, L.L.C.
Listed By:
Mike Kanser, TIMOTHY J ATKINS
Source:
Katie-k
Added: Sep 15
Last Checked: Sep 22 at 10:13PM
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.
Built in 1980, this 1,865-square-foot medical office property at 2009 W Michigan Ave in Jackson, MI, is arranged for clinical and administrative operations. The floor plan includes a reception area, two private offices, four exam rooms, a laboratory, two restrooms, a rear office, and a kitchenette. Two exam rooms include sinks, while the lab connects through a pass-through to the second restroom for sample handling.
The property includes 16 on-site parking spaces and sits across from Westwood Mall on W Michigan Ave. Its room configuration supports medical office use while also providing private work areas and staff amenities within the same building.
The property includes 16 on-site parking spaces and sits across from Westwood Mall on W Michigan Ave. Its room configuration supports medical office use while also providing private work areas and staff amenities within the same building.
Key Highlights
- 1,865‑square‑foot medical office property built in 1980
- Four exam rooms, including two with sinks
- Laboratory with pass‑through to the second restroom
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
$17,037
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
4.01%
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%
$340,740
$340.7K
Cap Rate 7%
$243,386
$243.4K
Cap Rate 9%
$189,300
$189.3K
Market Conditions
NOI Build-Up for 1,865 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
$32.5K $17.40/SF
− Vacancy
−$4.1K −$2.18/SF
EGI
$28.4K $15.22/SF
− OpEx
−$11.4K −$6.09/SF
NOI
$17.0K $9.13/SF
Area
Jackson County, MI
Vacancy
12.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
40.00%
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%
$340,740
Cap Rate 7%
$243,386
Cap Rate 9%
$189,300
Alternative Uses
Best Use
Healthcare Medical
$243.4K
$213.0K – $284.0K
NOI $17,037 @ 7.0% cap · market cap 4.01%
Second Best
Office B
$223.3K
$195.4K – $260.5K
NOI $15,630 @ 7.0% cap · market cap 3.68%
Theoretical Best
Office A
$297.7K
$260.5K – $347.3K
NOI $20,840 @ 7.0% cap · market cap 4.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
578
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Purpose-built clinical layout across from Westwood Mall with dedicated parking and professional office functionality.
Where is this medical office space located?
The property is located at 2009 W Michigan Ave Jackson, MI.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 1,865‑square‑foot medical office property built in 1980; Four exam rooms, including two with sinks; Laboratory with pass‑through to the second restroom
