Drive-Through
For Sale
$695,000
221 W Prospect Street, Jackson, MI 49203
A corner-site restaurant features a drive-through window, an equipped kitchen, indoor dining, and a rebuilt parking area.
Property Size2,544 SF
Price / SF$273.19
Days on Market11
Property Features for 221 W Prospect Street
General Information
Standard status
Active
Size
2,544 SF
Zoning
I-1
Site & Location
Drive-Thru
Yes
Traffic Count
8,959 vehicles/day
Additional Details
Business Included
Yes
Equipment Included
Yes
Taxes and HOA fees
Annual Taxes
$6,142
Amenities
true
2
1
No
Real Estate
0.57
218 x 105
false
Paved
Slab
2544
Building Details
Building Size
2,544 SF
Year Built
1983
Buildings
1
Stories
1
Listing Agency:
ERA REARDON REALTY, L.L.C.
(517) 782-2996
Listed By:
PHILLIP M MORGAN · License #6502108104
(517) 204-4385
Source:
Danhendrick.clydehendrickrealtors
Added: Oct 20
Changed: Oct 28
Last Checked: Oct 28 at 7:29AM
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.
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Investment Insights
Based on property information with market context.
This 2,544-square-foot restaurant occupies a corner lot and includes a drive-through window, indoor seating, and a fully equipped kitchen. Built in 1983, the building is configured for restaurant service, with a large parking lot surfaced in concrete.
The property is at 221 W Prospect Street in Jackson, across from a linear park and the Falling Waters Trail. Nearby destinations include McDonald's, Pizza Hut, and Parkside Junior High. Daily traffic counts are reported at up to 8,959 vehicles.
The property is at 221 W Prospect Street in Jackson, across from a linear park and the Falling Waters Trail. Nearby destinations include McDonald's, Pizza Hut, and Parkside Junior High. Daily traffic counts are reported at up to 8,959 vehicles.
Key Highlights
- 2,544‑square‑foot restaurant building constructed in 1983
- Drive‑through window and fully equipped kitchen
- Indoor seating area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,171
Cap Rate
3.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$483,420
$483.4K
Cap Rate 7%
$345,300
$345.3K
Cap Rate 9%
$268,567
$268.6K
Market Conditions
NOI Build-Up for 2,544 SF
Gross rent
$35.1K $13.80/SF
− Vacancy
−$2.9K −$1.13/SF
EGI
$32.2K $12.67/SF
− OpEx
−$8.1K −$3.17/SF
NOI
$24.2K $9.50/SF
Area
Jackson County, MI
Vacancy
8.20%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$483,420
Cap Rate 7%
$345,300
Cap Rate 9%
$268,567
Alternative Uses
Best Use
Specialty Retail
$345.3K
$302.1K – $402.9K
NOI $24,171 @ 7.0% cap · market cap 3.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$406.1K
$355.4K – $473.8K
NOI $28,428 @ 7.0% cap · market cap 4.09%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
8,959 VPD
Traffic count
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
282
Businesses Nearby
30k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 57%
Shops & Services 43%
McDonald's
Dining
13,255 visits/mo
0.4 miles
Dollar General
Shops & Services
5,377 visits/mo
0.3 miles
Advance Auto Parts
Shops & Services
3,082 visits/mo
0.2 miles
Sunoco
Shops & Services
2,323 visits/mo
0.1 miles
Pizza Hut
Dining
2,175 visits/mo
0.3 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Drive through restaurant - A corner-site restaurant features a drive-through window, an equipped kitchen, indoor dining, and a rebuilt parking area.
Where is this drive through restaurant located?
The property is located at 221 W Prospect Street Jackson, MI.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: 2,544‑square‑foot restaurant building constructed in 1983; Drive‑through window and fully equipped kitchen; Indoor seating area
