Corner Retail Bank
E 1712 E Michigan Avenue Unit SourceFi Jackson, MI 49202
E 1712 E Michigan Avenue Unit SourceFi, Jackson, MI, 49202
$599,900
For Sale
$599,900
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 Market121
Property Features for E 1712 E Michigan Avenue Unit SourceFi
General Information
- Standard status
- Active
- Size
- 2,936 SF
- Lot size
- 0.69 Acres
- Property subtype
- Industrial
Building Details
- Year Built
- 19
Listing Agency
KW Professionals
(734) 259-1100
Listed by
Jeff Glover · License #6501317808
(734) 259-1100
Source
Xome
Added: Mar 23 Updated: Jul 18 at 4:18 am Checked: Jul 19 at 2:01 am
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
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $40.5k | $13.80 |
| − Vacancy | −$3.3k | −$1.13 |
| EGI | $37.2k | $12.67 |
| − OpEx | −$9.3k | −$3.17 |
| NOI | $27.9k | $9.50 |
2,936 SF · lease $13.80/SF/yr · vacancy 8.20% · expense 25.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Banks
Similar For Sale Nearby
FAQs
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 E 1712 E Michigan Avenue Unit SourceFi 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
