Drive-Through Restaurant with Equipped
For Sale
$695,000
221 W Prospect Street, Jackson, MI 49203
Commercial Sale, Jackson, MI
Property Size2,544 SF
Lot Size0.57 Acres
Price / SF$273.19
Days on Market9
Property Features for 221 W Prospect Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
I-1
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Elementary school district
Jackson
Middle school district
Jackson
High school district
Jackson
Standard status
Active
APN
4-178400000, 4-180600000, & 4-180500000
Size
2,544 SF
Lot size
0.57 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOTS 1, 2, 22, AND 23 BLK 16 PROSPECT ADD
Tax Annual Amount
6143
Legal Description
LOTS 1, 2, 22, AND 23 BLK 16 PROSPECT ADD
Utilities
Utilities
Natural Gas Available
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1983
Floors in Building
1
Number of units
1
Building materials
Stucco, Wood Siding
Roof type
Composition
Listing Agency:
ERA Reardon Realty, L.L.C.
(517) 782-2996
Listed By:
PHILLIP M MORGAN · License #6502108104
(517) 204-4385
Added: Sep 28
Changed: Oct 2
Last Checked: Oct 6 at 2:06AM
MLS# 26051616
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 2,544-square-foot drive-through restaurant occupies a 0.57-acre corner parcel. The building includes an equipped kitchen, indoor seating, and two bathrooms. A rebuilt concrete parking area serves the property, and natural gas is available. The building dates to 1983 and has forced-air heat and central air conditioning.
The property is across from a linear park and the Falling Waters Trail, south of downtown Jackson and north of Ella Sharp Park. Nearby businesses and Parkside Junior High include McDonald’s and Pizza Hut. Reported daily traffic reaches 8,959 vehicles.
The property is across from a linear park and the Falling Waters Trail, south of downtown Jackson and north of Ella Sharp Park. Nearby businesses and Parkside Junior High include McDonald’s and Pizza Hut. Reported daily traffic reaches 8,959 vehicles.
Key Highlights
- 2,544‑square‑foot restaurant on a 0.57‑acre corner parcel
- Drive‑through window and equipped kitchen
- Indoor seating and two bathrooms
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.
Property Analytics
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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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Drive through restaurant - A fully equipped kitchen and indoor dining area support restaurant service.
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 on a 0.57‑acre corner parcel; Drive‑through window and equipped kitchen; Indoor seating and two bathrooms
