2815 E Michigan Avenue, Jackson, MI 49202

Building Details

Year Built 1984 More

Buildings 1 More

Stories 1 More

Units 1 More

Listing Agency: NAI Wisinski of West Michigan - Kalamazoo

Listed By: Jodi K. Milks, CCIM · License MI #6506044331 Show Phone

Source: Crexi

Added: Mar 16 Changed: Aug 8 Last Checked: Aug 26 at 12:18PM

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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 NAI Wisinski of West Michigan - Kalamazoo

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Investment Insights

Based on property information with market context.

This freestanding 2,830 SF building, formerly a retail banking facility, is available for sale. It is situated on 0.56 acres along the East Michigan Avenue retail corridor in Leoni Township. The property is located in the C-2 - General Commercial district of Leoni Township and features two drive-up lanes and ample parking. It is well-suited for financial, medical, or quick-service users. The location offers convenient regional access to US-127 and I-94 and is near major national retailers, including Meijer, ALDI, and Menards.

Key Highlights

• Freestanding 2,830 SF building with two drive‑up lanes
• Located on 0.56 acres along the busy East Michigan Ave retail corridor
• Zoned C‑2 - General Commercial, suitable for financial, medical, or quick‑service users

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$26,889

Cap Rate

8.03%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$537,780 $537.8K

Cap Rate 7%

$384,129 $384.1K

Cap Rate 9%

$298,767 $298.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,830 SF

Gross rent

$39.1K $13.80/SF

− Vacancy

−$3.2K −$1.13/SF

EGI

$35.9K $12.67/SF

− OpEx

−$9.0K −$3.17/SF

NOI

$26.9K $9.50/SF

Area

Jackson County, MI

Vacancy

8.20%

Lease Rate

$13.80 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$537,780

Cap Rate 7%

$384,129

Cap Rate 9%

$298,767

Alternative Uses

Best Use

Specialty Retail

$384.1K

$336.1K – $448.2K (±1% cap)

NOI $26,889 @ 7.0% cap · market cap 8.03%

Second Best

Retail

$278.8K

$244.0K – $325.3K (±1% cap)

NOI $19,517 @ 7.0% cap · market cap 5.83%

Theoretical Best

Office A

$451.8K

$395.3K – $527.1K (±1% cap)

NOI $31,624 @ 7.0% cap · market cap 9.44%

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

Comerica Bank - ATM Atm Comerica Bank Bank

Suggested Use

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

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

Location Intelligence

Trade Area within ½ mile

297

Businesses Nearby

146k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Dining 43% Shops & Services 29% Groceries 12% Home Improvements & Furnishings 10%

Aldi Groceries

18,155 visits/mo 0.2 miles

Taco Bell Dining

17,030 visits/mo 0.1 miles

Harbor Freight Tools Home Improvements & Furnishings

14,335 visits/mo 0.4 miles

Dollar Tree Shops & Services

13,146 visits/mo 0.4 miles

Arby's Dining

11,918 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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Frequently Asked Questions

What type of property is this?

Bank - 2,830 SF former retail banking facility for sale.

Where is this bank located?

The property is located at 2815 E Michigan Avenue Jackson, MI.

What is the asking price?

The asking price for this property is $335,000.

What are key features of this property?

This property features: Freestanding 2,830 SF building with two drive‑up lanes; Located on 0.56 acres along the busy East Michigan Ave retail corridor; Zoned C‑2 - General Commercial, suitable for financial, medical, or quick‑service users