Remodeled Office Condo Unit with Rear
For Sale
$299,900
3465 Ann Arbor Road, Jackson, MI 49202
COMMERCIAL - Jackson, MI
Property Size2,254 SF
Lot Size0.12 Acres
Price / SF$133.05
Days on Market48
Property Features for 3465 Ann Arbor Road
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
Commercial
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Elementary school district
East Jackson
Middle school district
East Jackson
High school district
East Jackson
Standard status
Active
APN
000-09-31-206-001-02
Size
2,254 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
UNITS C JAAR CONDOMINIUM SEC 31 T2S R1E; SPLIT ON 02/19/2021 FROM 000-09-31-206-001-01;
Tax Annual Amount
3101
Legal Description
UNITS C JAAR CONDOMINIUM SEC 31 T2S R1E; SPLIT ON 02/19/2021 FROM 000-09-31-206-001-01;
Utilities
Utilities
Electricity Available
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1955
Floors in Building
1
Number of units
1
Building materials
Concrete
Roof type
Rubber
Listing Agency:
ERA Reardon Realty, L.L.C.
(517) 782-2996
Listed By:
Julie Hackworth · License #6501391714
(517) 206-6426
Added: Jul 8
Changed: Aug 13
Last Checked: Aug 24 at 10:06AM
MLS# 26034675
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.
An updated office condo unit with a functional interior layout and multiple access points, featuring a kitchen equipped with a stove, microwave, and dishwasher. The unit includes two restrooms, a storage closet, and both front and rear entrances for added accessibility. Construction is concrete, with forced air heating and central air conditioning.
Capital improvements include a new roof in 2018 and, in 2019, new furnace, central air conditioning, hot water heater, plumbing, electrical, and recently installed acoustical ceiling panels for sound control. A fire sprinkler system is in place. The building also provides ample shared parking in both front and rear areas with other units, and there is no HOA.
The condo is currently utilized as a training room and office space. The property sits on a 0.12-acre lot with a total size of 2,254 square feet, and it was built in 1955.
Capital improvements include a new roof in 2018 and, in 2019, new furnace, central air conditioning, hot water heater, plumbing, electrical, and recently installed acoustical ceiling panels for sound control. A fire sprinkler system is in place. The building also provides ample shared parking in both front and rear areas with other units, and there is no HOA.
The condo is currently utilized as a training room and office space. The property sits on a 0.12-acre lot with a total size of 2,254 square feet, and it was built in 1955.
Key Highlights
- 2,254 SF office condo unit on a 0.12‑acre lot
- Remodeled in 2019 with new furnace, central air, hot water heater, plumbing, electrical
- New roof completed in 2018
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
$18,890
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
6.30%
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%
$377,800
$377.8K
Cap Rate 7%
$269,857
$269.9K
Cap Rate 9%
$209,889
$209.9K
Market Conditions
NOI Build-Up for 2,254 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
$32.5K $14.40/SF
− Vacancy
−$7.3K −$3.23/SF
EGI
$25.2K $11.17/SF
− OpEx
−$6.3K −$2.79/SF
NOI
$18.9K $8.38/SF
Area
Jackson County, MI
Vacancy
22.40%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
25.00%
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%
$377,800
Cap Rate 7%
$269,857
Cap Rate 9%
$209,889
Alternative Uses
Best Use
Office B
$269.9K
$236.1K – $314.8K
NOI $18,890 @ 7.0% cap · market cap 6.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$359.8K
$314.8K – $419.8K
NOI $25,187 @ 7.0% cap · market cap 8.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Sprinkler system
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
212
Businesses Nearby
Explore this area
Business Placement
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 Office 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?
Office units - Remodeled office condo unit with front and rear entrances, two restrooms, kitchen, and shared parking.
Where is this office units located?
The property is located at 3465 Ann Arbor Road Jackson, MI.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: 2,254 SF office condo unit on a 0.12‑acre lot; Remodeled in 2019 with new furnace, central air, hot water heater, plumbing, electrical; New roof completed in 2018
