Mixed-Use Property with
For Sale
$194,900
205 N West Ave, Jackson, MI 49201
Commercial-residential zoning supports salon, retail, office, or live-work use.
Property Size2,028 SF
Price / SF$96.10
Days on Market28
Property Features for 205 N West Ave
General Information
Standard status
Active
Size
2,028 SF
Additional Details
Business Included
Yes
Utilities to Site
Yes
Building Details
Year Built
1890
Buildings
1
Tenancy
Multi
Listing Agency:
ERA Reardon Realty, L.L.C.
Listed By:
ALEX C PERLOS, Jill Baker
Source:
Katie-k
Added: Aug 4
Changed: Aug 30
Last Checked: Aug 30 at 2:53PM
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, L.L.C.
Investment Insights
Based on property information with market context.
This mixed-use property at 205 N West Ave in Jackson, Michigan, combines an operating salon on the main level with a separate residential unit upstairs. The salon includes chairs, wash sinks, a tanning bed, equipment, products, and related fixtures. The upper level contains 2 bedrooms and 1 bathroom, with its own entrance and separately metered utilities. Dedicated mechanical features include an individual furnace, central A/C, and newer hot water tanks.
Zoning allows both commercial and residential use, supporting continued salon operations alongside the existing rental layout. The property was built in 1890 and offers a live-work configuration with distinct commercial and residential areas.
Zoning allows both commercial and residential use, supporting continued salon operations alongside the existing rental layout. The property was built in 1890 and offers a live-work configuration with distinct commercial and residential areas.
Key Highlights
- Operating salon with chairs, wash sinks, tanning bed, equipment, products, and fixtures included
- Upstairs 2‑bedroom, 1‑bath residential unit
- Private entrance and separate utilities for the upper‑level unit
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
$16,996
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
8.72%
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%
$339,920
$339.9K
Cap Rate 7%
$242,800
$242.8K
Cap Rate 9%
$188,844
$188.8K
Market Conditions
NOI Build-Up for 2,028 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
$29.2K $14.40/SF
− Vacancy
−$6.5K −$3.23/SF
EGI
$22.7K $11.17/SF
− OpEx
−$5.7K −$2.79/SF
NOI
$17.0K $8.38/SF
Area
Jackson County, MI
Vacancy
22.40%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
25.00%
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%
$339,920
Cap Rate 7%
$242,800
Cap Rate 9%
$188,844
Alternative Uses
Best Use
Office B
$242.8K
$212.5K – $283.3K
NOI $16,996 @ 7.0% cap · market cap 8.72%
Second Best
Mixed Use
$240.1K
$210.1K – $280.1K
NOI $16,807 @ 7.0% cap · market cap 8.62%
Theoretical Best
Office A
$323.7K
$283.3K – $377.7K
NOI $22,662 @ 7.0% cap · market cap 11.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
797
Businesses Nearby
Explore this area
Business Placement
Demographics for 49201, MI
47,747
Population
18,102
Households
2.6
Avg Household Size
41
Median Age
23%
College-Educated
92%
High-School Grad
155.0 sq mi
ZIP Area
308
Density / Sq Mi
$71,714
Median Household Income
$36,390
Median Earnings
$945
Median Rent
$202,900
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial-residential zoning supports salon, retail, office, or live-work use.
Where is this mixed-use property located?
The property is located at 205 N West Ave Jackson, MI.
What is the asking price?
The asking price for this property is $194,900.
What are key features of this property?
This property features: Operating salon with chairs, wash sinks, tanning bed, equipment, products, and fixtures included; Upstairs 2‑bedroom, 1‑bath residential unit; Private entrance and separate utilities for the upper‑level unit
