Renovated Medical Office
2532 Spring Arbor Rd, Jackson, MI 49203
For Sale
$1,500,000
Multi-suite space includes existing NNN leases and additional area available for occupancy or leasing.
Property Size5,762 SF
Lot Size1.21 Acres
Price / SF$260.33
Days on Market47
Property Features for 2532 Spring Arbor Rd
General Information
Standard status
Size
Lot size
Zoning
Additional Details
Cap Rate
Road Access
Building Details
Year Built
Tenancy
Listing Agency:
Coldwell Banker Groves Real Estate
Listed By:
Timothy Groves, Sherri Groves
Source:
Katie-k
Added: Sep 24
Changed: Oct 25
Last Checked: Oct 7 at 4:37PM
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 Coldwell Banker Groves Real Estate
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Investment Insights
Based on property information with market context.
This renovated medical and professional office property contains 5,762 square feet in a multi-suite layout. Built in 1964, the building sits on approximately 1.21 acres and is zoned O-1. Existing triple-net leases are in place, with additional space available for leasing or owner occupancy.
The property has direct access from Spring Arbor Road and an on-site parking lot designated for patients, clients, and staff. Existing leases support a 5.9% cap rate, with an 8.1% cap rate projected at full capacity. Brownfield benefits are also associated with the property; terms and transferability are subject to verification with Summit Township.
The property has direct access from Spring Arbor Road and an on-site parking lot designated for patients, clients, and staff. Existing leases support a 5.9% cap rate, with an 8.1% cap rate projected at full capacity. Brownfield benefits are also associated with the property; terms and transferability are subject to verification with Summit Township.
Key Highlights
- 5,762‑square‑foot medical and professional office property
- Approximately 1.21 acres; zoned O‑1
- Multi‑suite building with existing triple‑net leases and additional space available
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$52,636
Cap Rate
3.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,052,720
$1.1M
Cap Rate 7%
$751,943
$751.9K
Cap Rate 9%
$584,844
$584.8K
Market Conditions
NOI Build-Up for 5,762 SF
Gross rent
$100.3K $17.40/SF
− Vacancy
−$12.5K −$2.18/SF
EGI
$87.7K $15.22/SF
− OpEx
−$35.1K −$6.09/SF
NOI
$52.6K $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 Rate 5%
$1,052,720
Cap Rate 7%
$751,943
Cap Rate 9%
$584,844
Alternative Uses
Best Use
Healthcare Medical
$751.9K
$658.0K – $877.3K
NOI $52,636 @ 7.0% cap · market cap 3.51%
Second Best
Office B
$689.9K
$603.6K – $804.8K
NOI $48,290 @ 7.0% cap · market cap 3.22%
Theoretical Best
Office A
$919.8K
$804.8K – $1.07M
NOI $64,387 @ 7.0% cap · market cap 4.29%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
308
Businesses Nearby
Under-served
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
$150,900
Median Home Value
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Market
Average Price Trend$/SF for Medical Office Space in Jackson, MI
Properties on Market for Medical Office Space in Jackson
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Medical Office Space - Multi-suite space includes existing NNN leases and additional area available for occupancy or leasing.
Where is this medical office space located?
The property is located at 2532 Spring Arbor Rd 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: 5,762‑square‑foot medical and professional office property; Approximately 1.21 acres; zoned O‑1; Multi‑suite building with existing triple‑net leases and additional space available
