Corner Retail Bank
For Sale
$599,900
1712 E Michigan Avenue, Jackson, MI 49202
1-story former bank on a corner lot with 20+ parking spaces, zoned PB, near major hospital and highway access.
Property Size2,936 SF
Lot Size0.69 Acres
Price / SF$204.33
Days on Market141
Property Features for 1712 E Michigan Avenue
General Information
Standard status
Active
Size
2,936 SF
Lot size
0.69 Acres
Property subtype
Industrial
Zoning
PB
Site & Location
Traffic Count
10,218 vehicles/day
Highway Access
Yes
Amenities
3
135210243130
Building Details
Year Built
19
Stories
1
Listing Agency:
KW Professionals
(734) 259-1100
Listed By:
Jeff Glover · License #6501317808
(734) 259-1100
Source:
Xome
Added: Mar 24
Changed: Aug 8
Last Checked: Aug 11 at 4:51AM
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 KW Professionals
Investment Insights
Based on property information with market context.
This 1-story former bank building is located on a corner lot and totals 2,936 square feet. The site includes a spacious 20+ space parking lot and sits on approximately 0.69 acres. The property is zoned PB (Planned Building Group Shopping Center), supporting a variety of retail and service-based uses.
The location provides convenient access to both US-127 and I-94 and is near Henry Ford Jackson Hospital. Downtown Jackson is also described as a short 5-minute drive away, and the corner lot has an average daily traffic count of 10,218.
With its existing retail-oriented layout and parking capacity, this building can serve as a ready-to-occupy option for operators seeking space in the PB district.
The location provides convenient access to both US-127 and I-94 and is near Henry Ford Jackson Hospital. Downtown Jackson is also described as a short 5-minute drive away, and the corner lot has an average daily traffic count of 10,218.
With its existing retail-oriented layout and parking capacity, this building can serve as a ready-to-occupy option for operators seeking space in the PB district.
Key Highlights
- Corner lot with an average daily traffic count of 10,218 and 0.69 acres
- 1‑story building with 2,936 sq ft; formerly used as a bank
- 20+ space parking lot
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
4.65%
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 4.65%
Second Best
Retail
$289.3K
$253.1K – $337.5K
NOI $20,248 @ 7.0% cap · market cap 3.38%
Theoretical Best
Office A
$468.7K
$410.1K – $546.8K
NOI $32,808 @ 7.0% cap · market cap 5.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
10,218 VPD
Traffic count
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,887
Businesses Nearby
13k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 52%
Shops & Services 39%
Electronics 9%
BIGGBY COFFEE
Dining
6,603 visits/mo
0.2 miles
Huntington Bank
Shops & Services
2,329 visits/mo
0.2 miles
Boost Mobile
Electronics
1,213 visits/mo
0.2 miles
Old National Bank
Shops & Services
1,008 visits/mo
0.4 miles
Firestone Complete Auto Care
Shops & Services
765 visits/mo
0.5 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 - 1-story former bank on a corner lot with 20+ parking spaces, zoned PB, near major hospital and highway access.
Where is this bank located?
The property is located at 1712 E Michigan Avenue Jackson, MI.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: Corner lot with an average daily traffic count of 10,218 and 0.69 acres; 1‑story building with 2,936 sq ft; formerly used as a bank; 20+ space parking lot
