Corner Bank
For Sale
$599,900
1712 E Michigan Avenue, Jackson, MI 49202
One-story commercial building with parking and PB zoning supports retail and service uses.
Property Size2,936 SF
Lot Size0.69 Acres
Price / SF$204.33
Days on Market42
Property Features for 1712 E Michigan Avenue
General Information
Standard status
Active
Size
2,936 SF
Lot size
0.69 Acres
Property subtype
Commercial
Zoning
Commercial
Site & Location
Corner Location
Yes
Traffic Count
10,218 vehicles/day
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$13,615
Building Details
Building Size
2,936 SF
Year Built
1952
Stories
1
Listing Agency:
KW Professionals
(734) 459-4700
Listed By:
Jeff Glover · License #6501317808
Source:
Erareardonrealty
Added: Jul 20
Changed: Aug 29
Last Checked: Aug 29 at 4:55PM
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.
Situated on a 0.69-acre corner parcel, this 2,936-square-foot, one-story commercial building was constructed in 1952 and previously operated as a bank. The property includes a parking area with more than 20 spaces and is zoned PB, or Planned Building Group Shopping Center, for a range of retail and service-oriented uses.
The property is located at 1712 E Michigan Avenue in Jackson, approximately a 5-minute drive from downtown Jackson and near Henry Ford Jackson Hospital. Access to US-127 and I-94 adds regional connectivity, while the site records an average daily traffic count of 10,218.
The property is located at 1712 E Michigan Avenue in Jackson, approximately a 5-minute drive from downtown Jackson and near Henry Ford Jackson Hospital. Access to US-127 and I-94 adds regional connectivity, while the site records an average daily traffic count of 10,218.
Key Highlights
- 2,936‑square‑foot, one‑story building on a 0.69‑acre corner lot
- Former bank property constructed in 1952
- Parking area with 20+ spaces
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
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 - One-story commercial building with parking and PB zoning supports retail and service uses.
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: 2,936‑square‑foot, one‑story building on a 0.69‑acre corner lot; Former bank property constructed in 1952; Parking area with 20+ spaces
