Building Details

Year Built 1987

Listing Agency: ERA REARDON REALTY, L.L.C.

Listed By: Jill Baker · License #6501437282 Show Phone

Source: Vmrealestatemichigan

Added: Oct 29 Changed: Oct 30 Last Checked: Oct 30 at 2:55PM

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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 ERA REARDON REALTY, L.L.C.

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Investment Insights

Based on property information with market context.

Currently used for auto repair, this property is an auto shop built in 1987. The site has frontage on E. Michigan Avenue and Ganson Street, providing access from both roads.

Portions of E. Michigan Avenue carry approximately 13,000–14,000 vehicles per day. Retail, restaurants, and other commercial businesses are established nearby.

Key Highlights

• Existing auto repair shop
• Frontage on E. Michigan Avenue and Ganson Street
• Approximately 13,000–14,000 vehicles per day on portions of E. Michigan Avenue

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$17,924

Cap Rate

2.99%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$358,480 $358.5K

Cap Rate 7%

$256,057 $256.1K

Cap Rate 9%

$199,156 $199.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,580 SF

Gross rent

$28.5K $11.04/SF

− Vacancy

−$2.9K −$1.12/SF

EGI

$25.6K $9.92/SF

− OpEx

−$7.7K −$2.98/SF

NOI

$17.9K $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 Rate 5%

$358,480

Cap Rate 7%

$256,057

Cap Rate 9%

$199,156

Alternative Uses

Best Use

Industrial

$256.1K

$224.1K – $298.7K (±1% cap)

NOI $17,924 @ 7.0% cap · market cap 2.99%

Second Best

Retail

$254.2K

$222.4K – $296.6K (±1% cap)

NOI $17,793 @ 7.0% cap · market cap 2.97%

Theoretical Best

Office A

$411.9K

$360.4K – $480.5K (±1% cap)

NOI $28,830 @ 7.0% cap · market cap 4.81%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Jackson Auto Service Auto Repair Shop

Suggested Use

Top Pick Law Firm Real Estate Agency HVAC Service Nail Salon Big Box & Wholesale Store Hair Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

14,000 VPD

Traffic count

Yes

Paved road access

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

311

Businesses Nearby

105k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Dining 58% Shops & Services 20% Groceries 17% Beauty & Spa 2%

Aldi Groceries

18,155 visits/mo 0.4 miles

Taco Bell Dining

17,030 visits/mo 0.3 miles

Arby's Dining

11,918 visits/mo 0.5 miles

BIGGBY COFFEE Dining

11,878 visits/mo 0.4 miles

Little Caesars Pizza Dining

9,088 visits/mo 0.3 miles

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

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

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Similar Off Market Nearby

• Mechanix Automotive Service Center Inc. — 3101 E Michigan Ave, Jackson, MI 49202
• Valvoline Instant Oil Change — 3231 E Michigan Ave, Jackson, MI 49202

Frequently Asked Questions

What type of property is this?

Auto shop - The property has road frontage on both E. Michigan Avenue and Ganson Street.

Where is this auto shop located?

The property is located at 2620 E Michigan Ave Jackson, MI.

What is the asking price?

The asking price for this property is $599,000.

What are key features of this property?

This property features: Existing auto repair shop; Frontage on E. Michigan Avenue and Ganson Street; Approximately 13,000–14,000 vehicles per day on portions of E. Michigan Avenue