Single-Tenant Retail Asset For
For Sale
Contact for pricing
3133 E Michigan Ave, Jackson, MI 49202
Net-leased retail asset with a nationally recognized tenant.
Property Size6,745 SF
Lot Size1.70 Acres
Price / SF$170.50
Days on Market169
Property Features for 3133 E Michigan Ave
General Information
Standard status
Active
Size
6,745 SF
Lot size
1.70 Acres
Property subtype
Retail
Occupancy
100%
Lease Type
NN
Investment Type
Net Lease
Building Details
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Gary
Listed By:
GARY FULTHEIM · License #MO
Source:
Crexi
Added: Feb 24
Changed: Aug 8
Last Checked: Aug 11 at 4:15PM
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 Gary
Investment Insights
Based on property information with market context.
The property is a single-tenant, net-leased retail asset occupied by Advance Auto Parts, situated at 3133 E. Michigan Avenue in Jackson, Michigan. The freestanding building has approximately 6,754 square feet of space on a 1.7-acre parcel. It is located along the high-traffic E. Michigan Avenue corridor, offering visibility and ease of access. The property is leased under a net lease (NN) structure with an annual rent of $84,000. The lease extends through December 31, 2034, and includes multiple option periods that could extend potential income through 2049. The tenant reimburses real estate taxes and insurance and is responsible for interior maintenance and repairs. The property is located adjacent to Eastgate Shopping Center and is surrounded by established retail, schools, churches, and regional malls. The property benefits from traffic and long-term retail fundamentals. It presents an opportunity for investors seeking stable cash flow from a nationally recognized tenant in a durable retail location.
Key Highlights
- Long‑term lease with Advance Auto Parts in place through December 31, 2034, with option periods extending to 2049, providing stable, long‑term income.
- Desirable net lease (NN) structure with tenant responsible for real estate taxes, insurance, and interior maintenance/repairs, resulting in a favorable expense profile.
- High‑traffic location on E. Michigan Avenue with excellent visibility and accessibility.
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
$46,861
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
4.07%
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%
$937,220
$937.2K
Cap Rate 7%
$669,443
$669.4K
Cap Rate 9%
$520,678
$520.7K
Market Conditions
NOI Build-Up for 6,745 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
$74.5K $11.04/SF
− Vacancy
−$7.5K −$1.12/SF
EGI
$66.9K $9.92/SF
− OpEx
−$20.1K −$2.98/SF
NOI
$46.9K $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 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%
$937,220
Cap Rate 7%
$669,443
Cap Rate 9%
$520,678
Alternative Uses
Best Use
Industrial
$669.4K
$585.8K – $781.0K
NOI $46,861 @ 7.0% cap · market cap 4.07%
Second Best
Retail
$664.5K
$581.5K – $775.3K
NOI $46,516 @ 7.0% cap · market cap 4.04%
Theoretical Best
Office A
$1.08M
$942.1K – $1.26M
NOI $75,371 @ 7.0% cap · market cap 6.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,887
Businesses Nearby
13k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 52%
Shops & Services 39%
Electronics 9%
BIGGBY COFFEE
Dining
6,603 visits/mo
0.2 miles
Huntington Bank
Shops & Services
2,329 visits/mo
0.2 miles
Boost Mobile
Electronics
1,213 visits/mo
0.2 miles
Old National Bank
Shops & Services
1,008 visits/mo
0.4 miles
Firestone Complete Auto Care
Shops & Services
765 visits/mo
0.5 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
Questions? Ask Rey
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Similar Off Market Nearby
- Carshine Restorations, LLC — 375 Watts Rd, Jackson, MI 49203
- Mr. Quicks Oilube — 3436 e michigan ave, jackson, mi 49202
- Valvoline Instant Oil Change — 3231 E Michigan Ave, Jackson, MI 49202
- Mechanix Automotive Service Center Inc. — 3101 E Michigan Ave, Jackson, MI 49202
- Valvoline Instant Oil Change — 3436 E Michigan Ave, Jackson, MI 49202
Frequently Asked Questions
What type of property is this?
Auto shop - Net-leased retail asset with a nationally recognized tenant.
Where is this auto shop located?
The property is located at 3133 E Michigan Ave Jackson, MI.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Long‑term lease with Advance Auto Parts in place through December 31, 2034, with option periods extending to 2049, providing stable, long‑term income.; Desirable net lease (NN) structure with tenant responsible for real estate taxes, insurance, and interior maintenance/repairs, resulting in a favorable expense profile.; High‑traffic location on E. Michigan Avenue with excellent visibility and accessibility.
