Automotive Property with
New
For Sale
$329,000
2409 Lansing Avenue, Jackson, MI 49202
Commercial Sale, Jackson, MI
Property Size1,520 SF
Lot Size3.64 Acres
Price / SF$216.45
Days on Market5
Property Features for 2409 Lansing Avenue
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
201 Commercial
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Interior features
Broadband
Elementary school district
Northwest
Middle school district
Northwest
High school district
Northwest
Standard status
Active
APN
000-08-22-451-006-00
Size
1,520 SF
Lot size
3.64 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
THE N 142 FT OF THE S 436 FT OF THAT PART OF SW 1/4 OF SE 1/4 LYING W OF WLY R/W LN OF MU RY EXC ALL THAT PART OF THE FO
Tax Annual Amount
2072
Legal Description
THE N 142 FT OF THE S 436 FT OF THAT PART OF SW 1/4 OF SE 1/4 LYING W OF WLY R/W LN OF MU RY EXC ALL THAT PART OF THE FO
Utilities
Utilities
Cable Available
Heating system
Forced Air
Water source
Well
Amenities
bathroom
concrete floors
heat
Building Details
Year built
1982
Floors in Building
1
Number of units
2
Building materials
Block, Wood Siding
Listing Agency:
ERA Reardon Realty, L.L.C.
(517) 782-2996
Listed By:
ALEX C PERLOS · License #6501210977
(517) 740-4421
Added: Sep 11
Changed: Sep 14
Last Checked: Sep 15 at 4:06PM
MLS# 26048505
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 automotive property consists of two parcels offered together across approximately 3.64 acres. Improvements include a 320-square-foot office building serving the used car lot and an approximately 1,200-square-foot garage/workshop with a bathroom, concrete floors, and heat. The combined improvements total 1,520 square feet. Construction includes block and wood siding, with forced-air heating and a well water source. Utilities serving the garage are currently turned off.
The property fronts Lansing Avenue in Jackson, Michigan, with access to surrounding businesses and major roadways. Commercial zoning is in place, with future uses subject to applicable township or city approvals and zoning requirements. The property was built in 1982 and includes cable availability.
The property fronts Lansing Avenue in Jackson, Michigan, with access to surrounding businesses and major roadways. Commercial zoning is in place, with future uses subject to applicable township or city approvals and zoning requirements. The property was built in 1982 and includes cable availability.
Key Highlights
- Approximately 3.64 acres across two parcels
- 320 SF office building with used car lot
- Approximately 1,200 SF garage/workshop
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
$10,560
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
3.21%
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%
$211,200
$211.2K
Cap Rate 7%
$150,857
$150.9K
Cap Rate 9%
$117,333
$117.3K
Market Conditions
NOI Build-Up for 1,520 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
$16.8K $11.04/SF
− Vacancy
−$1.7K −$1.12/SF
EGI
$15.1K $9.92/SF
− OpEx
−$4.5K −$2.98/SF
NOI
$10.6K $6.95/SF
Area
Jackson County, MI
Vacancy
10.10%
Lease Rate
$11.04 /SF/Yr
Expense Ratio
30.00%
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%
$211,200
Cap Rate 7%
$150,857
Cap Rate 9%
$117,333
Alternative Uses
Best Use
Industrial
$150.9K
$132.0K – $176.0K
NOI $10,560 @ 7.0% cap · market cap 3.21%
Second Best
Retail
$149.8K
$131.0K – $174.7K
NOI $10,483 @ 7.0% cap · market cap 3.19%
Theoretical Best
Office A
$242.6K
$212.3K – $283.1K
NOI $16,985 @ 7.0% cap · market cap 5.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
109
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49202, MI
19,359
Population
9,598
Households
2
Avg Household Size
37
Median Age
15%
College-Educated
91%
High-School Grad
12.7 sq mi
ZIP Area
1,524
Density / Sq Mi
$41,916
Median Household Income
$30,638
Median Earnings
$915
Median Rent
$104,100
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
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Frequently Asked Questions
What type of property is this?
Auto shop - Two-parcel offering combines a used car lot with an office and heated workshop.
Where is this auto shop located?
The property is located at 2409 Lansing Avenue Jackson, MI.
What is the asking price?
The asking price for this property is $329,000.
What are key features of this property?
This property features: Approximately 3.64 acres across two parcels; 320 SF office building with used car lot; Approximately 1,200 SF garage/workshop
