Medical Office Building with Exam
For Sale
$425,000
2009 W Michigan Avenue, Jackson, MI 49202
COMMERCIAL - Jackson, MI
Property Size1,865 SF
Lot Size0.35 Acres
Price / SF$227.88
Days on Market138
Property Features for 2009 W Michigan Avenue
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
C-2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Parking
16
Elementary school district
Jackson
Middle school district
Jackson
High school district
Jackson
Directions
South side of W Michigan Ave, between 18th and 21st St.
Standard status
Active
APN
180-13-04-101-009-02
Size
1,865 SF
Lot size
0.35 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
W 20 FT OF LOT 23 AND ENTIRE LOTS 24, 25 & 26 AND E 1/2 OF LOT 27 EXC THE S 58 FT OF THE N 78 FT THEREOF BLOCK 1 ALSO T
Tax Annual Amount
74
Legal Description
W 20 FT OF LOT 23 AND ENTIRE LOTS 24, 25 & 26 AND E 1/2 OF LOT 27 EXC THE S 58 FT OF THE N 78 FT THEREOF BLOCK 1 ALSO T
Utilities
Utilities
Natural Gas Available
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1980
Floors in Building
1
Number of units
1
Building materials
Vinyl Siding
Roof type
Composition
Listing Agency:
ERA Reardon Realty, L.L.C.
(517) 782-2996
Listed By:
Mike Kanser · License #ML6501392301
(517) 416-6570
Added: Apr 6
Changed: Aug 4
Last Checked: Aug 21 at 3:06AM
MLS# 26013676
Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This medical office building offers a functional interior layout for clinical and professional use. The property includes a spacious reception area, two private offices, and two restrooms. The exam room configuration features four exam rooms, with two of the rooms having sinks. There is also a dedicated lab with a convenient pass-through to a second restroom for samples, plus an additional office and kitchenette in the rear.
Built in 1980, the building is heated with forced air and cooled with central air. Construction includes vinyl siding, and the roof is composition. Natural gas is available.
The property sits on a 0.35-acre site and includes 16 on-site parking spaces. It is positioned on W Michigan Avenue for strong visibility along a high-traffic street and is located across from Westwood Mall.
Built in 1980, the building is heated with forced air and cooled with central air. Construction includes vinyl siding, and the roof is composition. Natural gas is available.
The property sits on a 0.35-acre site and includes 16 on-site parking spaces. It is positioned on W Michigan Avenue for strong visibility along a high-traffic street and is located across from Westwood Mall.
Key Highlights
- 1,865 SF medical or professional office building built in 1980
- Reception area, two private offices, and two restrooms
- Four exam rooms, with sinks in two of the exam rooms
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
Property Profile
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
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical or professional office building with reception, exam rooms, lab, and 16 on-site parking spaces on W Michigan Avenue.
Where is this medical office space located?
The property is located at 2009 W Michigan Avenue 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 SF medical or professional office building built in 1980; Reception area, two private offices, and two restrooms; Four exam rooms, with sinks in two of the exam rooms
