Renovated Office Building with
New
For Sale
$350,000
2320 Francis Street, Jackson, MI 49203
C1 zoning and a separate garage add functional space for office operations.
Property Size1,824 SF
Price / SF$191.89
Days on Market5
Property Features for 2320 Francis Street
General Information
Standard status
Active
Size
1,824 SF
Total Parking Spaces
25
Property subtype
Commercial
Zoning
C1
Additional Details
Condition
Newly Renovated
Property Use
Office
Taxes and HOA fees
Annual Taxes
$1,148
Amenities
vault
Building Details
Building Size
1,824 SF
Year Built
1970
Buildings
1
Stories
1
Units
2
Listing Agency:
ERA REARDON REALTY, L.L.C.
(517) 782-2996
Listed By:
FRED M HETHERWICK · License #6502120657
(517) 206-0459
Source:
Alleyrealestatesales
Added: Nov 2
Last Checked: Nov 4 at 6:04AM
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 office building contains 1,824 square feet and was built in 1970. Renovation work has been completed, and the interior includes a vault. A detached garage provides an additional enclosed area separate from the main building.
The property is at 2320 Francis Street in Jackson, Michigan, on a busy street. It is zoned C1.
The property is at 2320 Francis Street in Jackson, Michigan, on a busy street. It is zoned C1.
Key Highlights
- 1,824‑square‑foot office building
- Renovated building with an interior vault
- Detached garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,287
Cap Rate
4.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$305,740
$305.7K
Cap Rate 7%
$218,386
$218.4K
Cap Rate 9%
$169,856
$169.9K
Market Conditions
NOI Build-Up for 1,824 SF
Gross rent
$26.3K $14.40/SF
− Vacancy
−$5.9K −$3.23/SF
EGI
$20.4K $11.17/SF
− OpEx
−$5.1K −$2.79/SF
NOI
$15.3K $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 Rate 5%
$305,740
Cap Rate 7%
$218,386
Cap Rate 9%
$169,856
Alternative Uses
Best Use
Office B
$218.4K
$191.1K – $254.8K
NOI $15,287 @ 7.0% cap · market cap 4.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$291.2K
$254.8K – $339.7K
NOI $20,382 @ 7.0% cap · market cap 5.82%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
153
Businesses Nearby
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
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office building - C1 zoning and a separate garage add functional space for office operations.
Where is this office building located?
The property is located at 2320 Francis Street Jackson, MI.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 1,824‑square‑foot office building; Renovated building with an interior vault; Detached garage
