Downtown Jackson Office/Multifamily
For Sale
$325,000
400 S Jackson St, Jackson, MI 49201
2,064 SF office/multifamily building in downtown Jackson.
Property Size2,064 SF
Price / SF$157.46
Days on Market153
Property Features for 400 S Jackson St
General Information
Standard status
Active
Size
2,064 SF
Property subtype
Office
Zoning
R-4 high density apartment and office district.
Listing Agency:
Swisher Commercial
Listed By:
Scott Schmunk · License #MI #6506039255
(734) 223-0278
Source:
Swishercommercial
Added: Apr 7
Changed: Aug 27
Last Checked: Sep 5 at 4:57AM
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 Swisher Commercial
Investment Insights
Based on property information with market context.
The property at 400 S Jackson Street is a 2,064 square foot, two-story office/multifamily building located in downtown Jackson. The layout includes six private offices and a conference room. Large windows provide natural light. The building features three bathrooms, including one full bath, and basement storage. Onsite parking is available. An irrigation system is present. The property is located across from the courthouse.
Key Highlights
- Located in downtown Jackson, across from the courthouse
- 2,064 SF office/multifamily building
- Six private offices and a dedicated conference room
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
$17,298
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
5.32%
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%
$345,960
$346.0K
Cap Rate 7%
$247,114
$247.1K
Cap Rate 9%
$192,200
$192.2K
Market Conditions
NOI Build-Up for 2,064 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
$29.7K $14.40/SF
− Vacancy
−$6.7K −$3.23/SF
EGI
$23.1K $11.17/SF
− OpEx
−$5.8K −$2.79/SF
NOI
$17.3K $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%
$345,960
Cap Rate 7%
$247,114
Cap Rate 9%
$192,200
Alternative Uses
Best Use
Office B
$247.1K
$216.2K – $288.3K
NOI $17,298 @ 7.0% cap · market cap 5.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$329.5K
$288.3K – $384.4K
NOI $23,064 @ 7.0% cap · market cap 7.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,474
Businesses Nearby
Explore this area
Business Placement
Demographics for 49201, MI
47,747
Population
18,102
Households
2.6
Avg Household Size
41
Median Age
23%
College-Educated
92%
High-School Grad
155.0 sq mi
ZIP Area
308
Density / Sq Mi
$71,714
Median Household Income
$36,390
Median Earnings
$945
Median Rent
$202,900
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - 2,064 SF office/multifamily building in downtown Jackson.
Where is this office building located?
The property is located at 400 S Jackson St Jackson, MI.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Located in downtown Jackson, across from the courthouse; 2,064 SF office/multifamily building; Six private offices and a dedicated conference room
