Building Details

Building Size 4,458 SF

Year Built 1976

Buildings 2

Stories 1

Listing Agency: HOWARD HANNA REAL ESTATE SERVI

Listed By: HEATHER HERNDON · License #6501335416 Show Phone

Source: Evrealestate

Added: Oct 13 Changed: Oct 19 Last Checked: Oct 20 at 9:09PM

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Investment Insights

Based on property information with market context.

This shopping center was built in 1976 and has central air conditioning. Heating is provided by natural gas, with forced-air and hot-water systems. The exterior is paved.

The property is at the north corner of Monroe Street and North West Avenue, with an entrance on Clinton Road. It is located in Jackson, Michigan, and is zoned C-4.

Key Highlights

• Shopping center built in 1976
• Central air conditioning
• Natural gas service with forced‑air and hot‑water heating

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$30,744

Cap Rate

3.31%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$614,880 $614.9K

Cap Rate 7%

$439,200 $439.2K

Cap Rate 9%

$341,600 $341.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,458 SF

Gross rent

$53.5K $12.00/SF

− Vacancy

−$9.6K −$2.15/SF

EGI

$43.9K $9.85/SF

− OpEx

−$13.2K −$2.96/SF

NOI

$30.7K $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%

$614,880

Cap Rate 7%

$439,200

Cap Rate 9%

$341,600

Alternative Uses

Best Use

Retail

$439.2K

$384.3K – $512.4K (±1% cap)

NOI $30,744 @ 7.0% cap · market cap 3.31%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$711.6K

$622.7K – $830.3K (±1% cap)

NOI $49,815 @ 7.0% cap · market cap 5.36%

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

Property Analytics

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Current Use

Shopping centers

Suggested Use

Top Pick Law Firm Kitchen & Bath Showroom HVAC Service Plumbing Service Parking Lot & Garage 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

717

Businesses Nearby

724k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Dining 39% Apparel 19% Shops & Services 16% Superstores 13%

Target Superstores

97,723 visits/mo 0.2 miles

Kohl's Apparel

53,166 visits/mo 0.4 miles

Five Below Shops & Services

35,556 visits/mo 0.3 miles

Texas Roadhouse Dining

34,423 visits/mo 0.3 miles

Dunham's Sports Apparel

32,393 visits/mo 0.3 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

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?

Shopping center - A 1976 retail property with central air, natural gas service, and C-4 zoning.

Where is this shopping center located?

The property is located at 1401 N West Avenue Jackson, MI.

What is the asking price?

The asking price for this property is $929,000.

What are key features of this property?

This property features: Shopping center built in 1976; Central air conditioning; Natural gas service with forced‑air and hot‑water heating