Retail Property on Michigan
For Sale
Contact for pricing
3021 E Michigan Ave, Jackson, MI 49202
32,233 SF retail building on 3.27 AC lot.
Property Size32,233 SF
Lot Size3.27 Acres
Price / SF$182.73
Days on Market215
Property Features for 3021 E Michigan Ave
General Information
Standard status
Active
Size
32,233 SF
Lot size
3.27 Acres
Property subtype
Retail
Net Operating Income
$279,000
Building Details
Year Built
2022
Listing Agency:
ParaSell Inc
Listed By:
Scott Reid · License #23763
(949) 942-6585
Source:
Crexi
Added: Mar 5
Changed: Oct 4
Last Checked: Oct 5 at 4:32PM
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 ParaSell Inc
Investment Insights
Based on property information with market context.
This retail property features a 32,233 square foot building situated on a 3.27-acre lot. The property includes 151 parking spaces. Signage options include building fascia and multiple nylon signs. The property's net operating income (NOI) is $279,000, with a cap rate of 4.7%.
Key Highlights
- New construction (2022)
- High parking ratio with 151 spaces
- Significant building size of 32,233 SF
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$222,292
Cap Rate
3.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,445,840
$4.4M
Cap Rate 7%
$3,175,600
$3.2M
Cap Rate 9%
$2,469,911
$2.5M
Market Conditions
NOI Build-Up for 32,233 SF
Gross rent
$386.8K $12.00/SF
− Vacancy
−$69.2K −$2.15/SF
EGI
$317.6K $9.85/SF
− OpEx
−$95.3K −$2.96/SF
NOI
$222.3K $6.90/SF
Area
Jackson County, MI
Vacancy
17.90%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,445,840
Cap Rate 7%
$3,175,600
Cap Rate 9%
$2,469,911
Alternative Uses
Best Use
Retail
$3.18M
$2.78M – $3.70M
NOI $222,292 @ 7.0% cap · market cap 3.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.15M
$4.50M – $6.00M
NOI $360,184 @ 7.0% cap · market cap 6.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
287
Businesses Nearby
306k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 35%
Dining 31%
Shops & Services 26%
Home Improvements & Furnishings 5%
Meijer
Groceries
89,249 visits/mo
0.4 miles
Speedway
Shops & Services
21,531 visits/mo
0.5 miles
McDonald's
Dining
20,714 visits/mo
0.4 miles
Meijer Gas Station
Shops & Services
20,038 visits/mo
0.3 miles
Aldi
Groceries
18,155 visits/mo
0.1 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail property - 32,233 SF retail building on 3.27 AC lot.
Where is this retail property located?
The property is located at 3021 E Michigan Ave Jackson, MI.
What is the asking price?
The asking price for this property is $5,890,000.
What are key features of this property?
This property features: New construction (2022); High parking ratio with **151 spaces**; Significant building size of **32,233 SF**
