Fenced Flex Space with Electric
For Sale
$450,000
240 Watts Road, Jackson, MI 49203
Chain-link fencing and an electric gate create a controlled perimeter for the property.
Property Size3,800 SF
Price / SF$118.42
Days on Market37
Property Features for 240 Watts Road
General Information
Standard status
Active
Size
3,800 SF
Property subtype
Commercial
Additional Details
Fenced Yard
Yes
Taxes and HOA fees
Annual Taxes
$2,124
Amenities
instant-gas hot water heater
full bath with an oversized shower
chain link fenced property with an electric gate
new high-speed cable
Building Details
Building Size
3,800 SF
Year Built
1980
Buildings
1
Stories
1
Units
1
Listing Agency:
Home 1st Real Estate
(517) 740-8910
Listed By:
GEORGE PIERSON · License #6501344130
Source:
Erareardonrealty
Added: Jul 24
Changed: Aug 28
Last Checked: Aug 28 at 11:53AM
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 Home 1st Real Estate
Investment Insights
Based on property information with market context.
This 3,800-square-foot flex-space building in Jackson, Michigan, was constructed in 1980. The property includes a full bathroom with an oversized shower and an instant-gas hot water heater. New high-speed cable is also available within the building.
The site is enclosed by chain-link fencing and accessed through an electric gate. Located at 240 Watts Road, the property provides a combination of flexible building space, basic restroom improvements, upgraded connectivity, and controlled site access.
The site is enclosed by chain-link fencing and accessed through an electric gate. Located at 240 Watts Road, the property provides a combination of flexible building space, basic restroom improvements, upgraded connectivity, and controlled site access.
Key Highlights
- 3,800 total sqFt flex‑space building
- Constructed in 1980
- Chain‑link fenced property with an electric gate
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
$35,692
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
7.93%
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%
$713,840
$713.8K
Cap Rate 7%
$509,886
$509.9K
Cap Rate 9%
$396,578
$396.6K
Market Conditions
NOI Build-Up for 3,800 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
$61.6K $16.20/SF
− Vacancy
−$6.6K −$1.75/SF
EGI
$54.9K $14.45/SF
− OpEx
−$19.2K −$5.06/SF
NOI
$35.7K $9.39/SF
Area
Jackson County, MI
Vacancy
10.80%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
35.00%
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%
$713,840
Cap Rate 7%
$509,886
Cap Rate 9%
$396,578
Alternative Uses
Best Use
Flex RnD
$509.9K
$446.2K – $594.9K
NOI $35,692 @ 7.0% cap · market cap 7.93%
Second Best
Industrial
$377.1K
$330.0K – $440.0K
NOI $26,400 @ 7.0% cap · market cap 5.87%
Theoretical Best
Office A
$606.6K
$530.8K – $707.7K
NOI $42,463 @ 7.0% cap · market cap 9.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
258
Businesses Nearby
Balanced
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 Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Chain-link fencing and an electric gate create a controlled perimeter for the property.
Where is this flex space located?
The property is located at 240 Watts Road Jackson, MI.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 3,800 total sqFt flex‑space building; Constructed in 1980; Chain‑link fenced property with an electric gate
