Listing Agency: ERA Reardon Realty | Jackson Show Phone

Listed By: Phillip Morgan · License #6502108104 Show Phone

Source: Moodyscre

Added: Jun 14, 2024 Changed: Oct 2 Last Checked: Oct 12 at 9:07PM

Report an Issue

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 ERA Reardon Realty | Jackson

Investment Insights

Based on property information with market context.

Energy Star certified flex space at 2021 Wellworth in Jackson, MI 49203, designed for flexible industrial and office use. The building includes open offices alongside a soaring warehouse area, with a glass-enclosed showroom for a bright, welcoming entry.

The 71,815-square-foot facility offers clear heights up to 34 feet, supported by five dock doors plus a grade level door for efficient loading and operations. Power includes a 1,200-amp service, bus duct distribution, and a backup generator, designed to support demanding use.

Additional performance features include daylight-harvesting lighting, geothermal conditioning, and solar tracking skylights, all intended to improve efficiency and comfort within the facility.

Key Highlights

• 71,815 SF Energy Star certified flex space with open offices and a soaring warehouse
• Clear heights up to 34 feet for higher‑bay storage and operations
• Five dock doors plus a grade level door for flexible loading

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$498,933

Cap Rate

8.46%

Suggested Prices Based on Cap Rates

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

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 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 (±1% cap)

NOI $674,541 @ 7.0% cap · market cap 11.43%

Second Best

Warehouse

$8.65M

$7.57M – $10.10M (±1% cap)

NOI $605,847 @ 7.0% cap · market cap 10.27%

Theoretical Best

Office A

$11.46M

$10.03M – $13.37M (±1% cap)

NOI $802,490 @ 7.0% cap · market cap 13.60%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Flex space

Suggested Use

Top Pick Law Firm Garden Center Furniture & Home Goods Bakery (Bike/Boat/Book/etc) Store Computer & Electronic Repair

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

Similar For Sale Nearby

Modern Industrial Facility in Jackson

2021 Wellworth Ave, Jackson, MI 49203

Contact for pricing

71,815 SF

View details

Interconnected Flex Space with Warehouse

1610 Clara Street, Jackson, MI 49203

$575,000

View details

Industrial Property in Jackson, Michigan

1610 E High St, Jackson, MI 49203

$2,340,000

22,000 SF

View details

Fenced Flex Space With Heavy Power

1005 Thorrez Rd, Jackson, MI 49201

$1,200,000

21,000 SF

View details

Manufacturing Property with Acreage

1180 Lewis Street, Jackson, MI 49203

$159,900

25,548 SF

View details

Industrial Property with Heated Pole Barn

201 Brookley Avenue, Jackson, MI 49202

$1,675,000

11,616 SF

View details

Mixed-Use Property with Development Lot

100 W Washington Avenue, Jackson, MI 49201

$699,000

15,840 SF

View details

New Warehouse Facility

511 Watts Rd, Jackson, MI 49203

Contact for pricing

32,000 SF

View details

Two-Building Flex Space

711 E Michigan Avenue, Jackson, MI 49201

$399,900

16,200 SF

View details

Manufacturing Facility With Three Buildings

1211-1213 Lewis Street, Jackson, MI 49203

$562,000

14,320 SF

View details

Renovated Medical Office Space

2532 Spring Arbor Road, Jackson, MI 49203

$1,500,000

5,762 SF

View details

Industrial Warehouse with Heavy Power

301 Hillsdale Street, Jackson, MI 49202

$450,000

9,696 SF

View details

Frequently Asked Questions

What type of property is this?

Flex space - Energy Star certified flex space featuring open offices, a high-clear warehouse, and modern power and building systems.

Where is this flex space located?

The property is located at 2021 Wellworth 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: 71,815 SF Energy Star certified flex space with open offices and a soaring warehouse; Clear heights up to 34 feet for higher‑bay storage and operations; Five dock doors plus a grade level door for flexible loading