Medical Office with Exam
New
For Sale
$375,000
2009 W Michigan Avenue, Jackson, MI 49202
Commercial Sale, Jackson, MI
Property Size1,865 SF
Lot Size0.35 Acres
Price / SF$201.07
Days on Market5
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
2026
Tax Description
W 20 Ft of Lot 23 & Entire LotsS 24, 25 & 26 & E 1/2 of Lot 27 EXC The S 58 Ft of The N 78 FT Thereof Block 1 Also
Legal Description
W 20 Ft of Lot 23 & Entire LotsS 24, 25 & 26 & E 1/2 of Lot 27 EXC The S 58 Ft of The N 78 FT Thereof Block 1 Also
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 #6501392301
(517) 416-6570
Added: Sep 28
Changed: Sep 29
Last Checked: Oct 2 at 5:06AM
MLS# 26051625
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 1,865-square-foot medical office has a reception area, two private offices, four exam rooms, and a lab. Two exam rooms have sinks, and the lab connects through a pass-through to a second restroom. A rear office and kitchenette provide additional work and staff space. The property also includes 16 on-site parking spaces and sits on a 0.35-acre lot.
On Michigan Avenue, the building is across from Westwood Mall. Built in 1980, it has forced-air heating, central air conditioning, vinyl siding, and a composition roof.
On Michigan Avenue, the building is across from Westwood Mall. Built in 1980, it has forced-air heating, central air conditioning, vinyl siding, and a composition roof.
Key Highlights
- 1,865‑square‑foot medical office on a 0.35‑acre lot
- Four exam rooms; two have sinks
- Lab with pass‑through to a second restroom
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
4.54%
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 4.54%
Second Best
Office B
$223.3K
$195.4K – $260.5K
NOI $15,630 @ 7.0% cap · market cap 4.17%
Theoretical Best
Office A
$297.7K
$260.5K – $347.3K
NOI $20,840 @ 7.0% cap · market cap 5.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Gorczyca Patrick J DVM — 2300 Wildwood Ave, Jackson, MI 49202
- Fassero R Sheila DVM — 2300 Wildwood Ave, Jackson, MI 49202
- Halstead Tim DVM — 2300 wildwood ave, jackson, mi 49202
- Lakomowski Jennifer DVM — 2300 Wildwood Ave, Jackson, MI 49202, United States
- Engelter Rebecca DVM — 2300 Wildwood Ave, Jackson, MI 49202, United States
Frequently Asked Questions
What type of property is this?
Medical Office Space - Patient-facing and staff areas include reception, exam rooms, a lab, an office, and a kitchenette.
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 $375,000.
What are key features of this property?
This property features: 1,865‑square‑foot medical office on a 0.35‑acre lot; Four exam rooms; two have sinks; Lab with pass‑through to a second restroom
