Modern Industrial Facility with
For Sale
$5,900,000
2021 Wellworth Avenue, Jackson, MI 49203
COMMERCIAL - Jackson, MI
Property Size71,815 SF
Lot Size3.42 Acres
Price / SF$82.16
Days on Market837
Property Features for 2021 Wellworth Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
I-2
Bathrooms
10
Full bathrooms
10
Rooms
Bathroom 3, Bathroom 4, Bathroom 1, Bathroom 5, Bathroom 6, Bathroom 2, Bathroom 7, Bathroom 9, Bathroom 10, Bathroom 8
Parking
52
Elementary school district
Jackson
Middle school district
Jackson
High school district
Jackson
Directions
Between South & High St off Losey Ave
Subdivision
Jackson County - JX
Standard status
Active
APN
5-2202.0500
Size
71,815 SF
Lot size
3.42 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
That part of Sec 12
Tax Annual Amount
132046
Legal Description
That part of Sec 12
Utilities
Utilities
Cable Available
Heating system
Forced Air, Heat Pump (Heating), Space Heater, Radiant
Cooling system
Central Air
Amenities
meeting/class rooms
break room
elevator
water feature
suspended walking track
Bosch certified clean room
paint booth
compressed air
buss duct
whole building generator
solar-tracking skylights
Building Details
Year built
2009
Floors in Building
2
Number of units
1
Building materials
Metal Siding
Roof type
Rubber, Metal
Listing Agency:
ERA Reardon Realty, L.L.C.
(517) 782-2996
Listed By:
PHILLIP M MORGAN · License #6502108104
(517) 204-4385
Added: May 7, 2024
Changed: Aug 4
Last Checked: Aug 21 at 1:06PM
MLS# 24022283
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.
Built in 2009, this modern industrial facility offers a flexible layout totaling 71,815 square feet across showroom, office, and shop/warehouse areas. The configuration includes a 1,745-square-foot showroom and 10,570 square feet of office space, along with 59,500 square feet of shop/warehouse space supported by 30-foot clear height ceilings and five grade-level docks. Additional functional features include a suspended 0.7-mile walking track and a facility-wide fire suppression system.
Power and energy-supporting improvements include Energy Star-rated features, an on-site generator, and a 1200 Amp I-Line Square D Panel. The shop/warehouse supports operational infrastructure such as bus duct, compressed air, and a paint booth. The building also includes solar-tracking skylights and daylight harvesting with occupancy controls.
Office amenities include an inviting break room and meeting/class spaces, while a Bosch certified clean room is available within the facility. The property totals 3.42 acres and is offered for sale at 2021 Wellworth Avenue in Jackson, Michigan.
Power and energy-supporting improvements include Energy Star-rated features, an on-site generator, and a 1200 Amp I-Line Square D Panel. The shop/warehouse supports operational infrastructure such as bus duct, compressed air, and a paint booth. The building also includes solar-tracking skylights and daylight harvesting with occupancy controls.
Office amenities include an inviting break room and meeting/class spaces, while a Bosch certified clean room is available within the facility. The property totals 3.42 acres and is offered for sale at 2021 Wellworth Avenue in Jackson, Michigan.
Key Highlights
- Built in 2009 on 3.42 acres, with 71,815 sqft of industrial/warehouse and office space.
- 59,500 sqft shop/warehouse with 30‑foot clear height ceilings and 5 grade level docks.
- Energy Star rated building with LED lighting, daylight harvesting, and occupancy controls.
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
$498,933
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
8.46%
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%
$9,978,660
$10.0M
Cap Rate 7%
$7,127,614
$7.1M
Cap Rate 9%
$5,543,700
$5.5M
Market Conditions
NOI Build-Up for 71,815 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
$792.8K $11.04/SF
− Vacancy
−$80.1K −$1.12/SF
EGI
$712.8K $9.92/SF
− OpEx
−$213.8K −$2.98/SF
NOI
$498.9K $6.95/SF
Area
Jackson County, MI
Vacancy
10.10%
Lease Rate
$11.04 /SF/Yr
Expense Ratio
30.00%
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%
$9,978,660
Cap Rate 7%
$7,127,614
Cap Rate 9%
$5,543,700
Alternative Uses
Best Use
Flex RnD
$9.64M
$8.43M – $11.24M
NOI $674,541 @ 7.0% cap · market cap 11.43%
Second Best
Warehouse
$8.65M
$7.57M – $10.10M
NOI $605,847 @ 7.0% cap · market cap 10.27%
Theoretical Best
Office A
$11.46M
$10.03M – $13.37M
NOI $802,490 @ 7.0% cap · market cap 13.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
30 ft
Clear height
5
Drive-in doors
Yes
Heavy power
Yes
Sprinkler system
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
168
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49203, MI
37,269
Population
16,999
Households
2.2
Avg Household Size
39
Median Age
23%
College-Educated
93%
High-School Grad
26.5 sq mi
ZIP Area
1,406
Density / Sq Mi
$55,689
Median Household Income
$37,096
Median Earnings
$992
Median Rent
$150,900
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.
Frequently Asked Questions
What type of property is this?
Flex space - Built in 2009, the property includes showroom, office, and a shop/warehouse with 30-foot clear height and dock access.
Where is this flex space located?
The property is located at 2021 Wellworth Avenue Jackson, MI.
What is the asking price?
The asking price for this property is $5,900,000.
What are key features of this property?
This property features: Built in 2009 on 3.42 acres, with 71,815 sqft of industrial/warehouse and office space.; 59,500 sqft shop/warehouse with 30‑foot clear height ceilings and 5 grade level docks.; Energy Star rated building with LED lighting, daylight harvesting, and occupancy controls.
