Renovated Medical Office
For Sale
$1,500,000
2532 Spring Arbor Road, Jackson, MI 49203
Commercial Sale, Jackson, MI
Property Size5,762 SF
Lot Size1.21 Acres
Price / SF$260.33
Days on Market62
Property Features for 2532 Spring Arbor Road
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
201- COMMERCIAL
Bathrooms
6
Full bathrooms
6
Rooms
Bathroom 3, Bathroom 6, Bathroom 4, Bathroom 2, Bathroom 1, Bathroom 5
Parking
35
Interior features
Broadband
Elementary school district
Jackson
Middle school district
Jackson
High school district
Jackson
Directions
Just east of M60 split on north side of road.
Standard status
Active
APN
000-13-08-226-009-00
Size
5,762 SF
Lot size
1.21 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Per Recorded Deed
Tax Annual Amount
5808
Legal Description
Per Recorded Deed
Utilities
Utilities
Cable Available
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1964
Floors in Building
2
Number of units
4
Building materials
Block, Wood Siding, Brick
Roof type
Rubber
Listing Agency:
Coldwell Banker Groves Real Estate
(517) 439-1511
Listed By:
Timothy Groves
(517) 398-1514
Added: Jul 21
Changed: Sep 16
Last Checked: Sep 20 at 12:06AM
MLS# 26040268
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 5,762-square-foot medical and professional office property contains a multi-suite layout with six bathrooms, central air, forced-air heating, broadband, and a rubber roof. Built in 1964, the building has undergone substantial renovations and includes block, wood siding, and brick construction. Existing triple-net leases support current occupancy, while additional space is available for owner occupancy or further leasing.
Positioned at 2532 Spring Arbor Road in Jackson, the property occupies approximately 1.21 acres with direct road access and dedicated on-site parking for patients, clients, and staff. It is zoned O-1. Current leases reflect a 5.9% CAP rate, with a projected 8.1% CAP rate at full capacity. Brownfield benefits are associated with the property, subject to buyer verification of terms and transferability with Summit Twp.
Positioned at 2532 Spring Arbor Road in Jackson, the property occupies approximately 1.21 acres with direct road access and dedicated on-site parking for patients, clients, and staff. It is zoned O-1. Current leases reflect a 5.9% CAP rate, with a projected 8.1% CAP rate at full capacity. Brownfield benefits are associated with the property, subject to buyer verification of terms and transferability with Summit Twp.
Key Highlights
- 5,762‑square‑foot medical and professional office property
- Approximately 1.21 acres with direct access from Spring Arbor Road
- Existing triple‑net leases with a 5.9% CAP rate
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
$52,636
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
3.51%
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%
$1,052,720
$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
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
$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 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%
$1,052,720
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.
Property Analytics
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Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Multi-suite professional property with dedicated parking, existing triple-net leases, and space for occupancy or expansion.
Where is this medical office space 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: 5,762‑square‑foot medical and professional office property; Approximately 1.21 acres with direct access from Spring Arbor Road; Existing triple‑net leases with a 5.9% CAP rate
