Fully Renovated Multi-Suite Office
For Sale
Contact for pricing
2532 Spring Arbor Road, Jackson, MI 49203
Renovated ADA-compliant office suites with ample parking and Class A Spring Arbor Road frontage for owner-users or professional investors.
Property Size5,724 SF
Lot Size1.21 Acres
Price / SF$262.05
Days on Market56
Property Features for 2532 Spring Arbor Road
General Information
Standard status
Active
Size
5,724 SF
Class
A
Total Parking Spaces
47
Lot size
1.21 Acres
Property subtype
Office
Zoning
O-1
Additional Details
Office Units
4
Building Details
Year Built
1964
Stories
2
Tenancy
Multi
Listing Agency:
Century 21 Affiliated Jackson
(517) 392-8508
Listed By:
Eric Ropp · License #MI
Source:
Crexi
Added: Jun 18
Changed: Aug 8
Last Checked: Jun 24 at 2:39AM
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 Century 21 Affiliated Jackson
Investment Insights
Based on property information with market context.
This fully renovated multi-suite office building offers ADA-compliant interior and exterior improvements throughout, including widened halls, compliant doors and restrooms, rebuilt bathrooms with new plumbing, new drywall, and code-compliant lighting and switches. Mechanical updates include replaced HVAC venting and partial roof replacement with a 10-year warranty, along with a fully new asphalt parking lot. The property is divided into four suites, with Suite A on the main floor and Suites B, C, and D on the lower level; Suite D is currently leased and occupied for outpatient counseling use, while Suites A, B, and C are available. The building includes public water and sewer service and natural gas forced-air heating.
The property sits on 1.21 acres with Class A frontage along Spring Arbor Road. Parking includes 47 spaces total, consisting of 45 lined spaces and 2 covered spaces.
With multiple separate office suites and a currently occupied lower-level medical/professional tenant, this configuration can fit an owner-user looking to occupy one or more spaces while maintaining rental income from an existing suite. It also appeals to medical and professional office investors and 1031 exchange buyers seeking a renovated, multi-tenant setup in a zoned O-1 office environment. The property is noted as qualifying for Brownfield tax abatement under MI Act 381, with terms to be verified by the buyer with Summit Twp for transferability.
The property sits on 1.21 acres with Class A frontage along Spring Arbor Road. Parking includes 47 spaces total, consisting of 45 lined spaces and 2 covered spaces.
With multiple separate office suites and a currently occupied lower-level medical/professional tenant, this configuration can fit an owner-user looking to occupy one or more spaces while maintaining rental income from an existing suite. It also appeals to medical and professional office investors and 1031 exchange buyers seeking a renovated, multi-tenant setup in a zoned O-1 office environment. The property is noted as qualifying for Brownfield tax abatement under MI Act 381, with terms to be verified by the buyer with Summit Twp for transferability.
Key Highlights
- 5,724 SF multi‑suite office building on 1.21 acres with Class A frontage on Spring Arbor Rd
- Fully renovated ADA‑compliant interior and exterior, including widened halls/doors and rebuilt bathrooms with new plumbing
- 4‑suite layout: Suite A (~2,862 SF main level) plus Suites B/C/D (~2,862 SF combined lower level)
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
$52,289
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
3.49%
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%
$1,045,780
$1.0M
Cap Rate 7%
$746,986
$747.0K
Cap Rate 9%
$580,989
$581.0K
Market Conditions
NOI Build-Up for 5,724 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
$99.6K $17.40/SF
− Vacancy
−$12.4K −$2.18/SF
EGI
$87.1K $15.22/SF
− OpEx
−$34.9K −$6.09/SF
NOI
$52.3K $9.13/SF
Area
Jackson County, MI
Vacancy
12.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
40.00%
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%
$1,045,780
Cap Rate 7%
$746,986
Cap Rate 9%
$580,989
Alternative Uses
Best Use
Healthcare Medical
$747.0K
$653.6K – $871.5K
NOI $52,289 @ 7.0% cap · market cap 3.49%
Second Best
Office B
$685.3K
$599.7K – $799.5K
NOI $47,972 @ 7.0% cap · market cap 3.20%
Theoretical Best
Office A
$913.7K
$799.5K – $1.07M
NOI $63,962 @ 7.0% cap · market cap 4.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
398
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
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Renovated ADA-compliant office suites with ample parking and Class A Spring Arbor Road frontage for owner-users or professional investors.
Where is this office building located?
The property is located at 2532 Spring Arbor Road Jackson, MI.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 5,724 SF multi‑suite office building on 1.21 acres with Class A frontage on Spring Arbor Rd; Fully renovated ADA‑compliant interior and exterior, including widened halls/doors and rebuilt bathrooms with new plumbing; 4‑suite layout: Suite A (~2,862 SF main level) plus Suites B/C/D (~2,862 SF combined lower level)
