Historic Two-Story Office
For Sale
$329,900
601 S Jackson Street, Jackson, MI 49203
Victorian-era property offers private offices, conference areas, reception space, and storage.
Property Size3,393 SF
Days on Market42
Property Features for 601 S Jackson Street
General Information
Standard status
Active
Size
3,393 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$7,929
Building Details
Building Size
3,393 SF
Year Built
1896
Buildings
1
Stories
2
Units
1
Listing Agency:
Howard Hanna Real Estate Services
(517) 812-1641
Listed By:
HEATHER HERNDON · License #6501335416
Source:
Erareardonrealty
Added: Jul 21
Changed: Aug 30
Last Checked: Aug 30 at 5:30PM
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 Howard Hanna Real Estate Services
Investment Insights
Based on property information with market context.
Built in 1896, this two-story office property combines preserved architectural details with practical workspace improvements. The building includes a front porch, original woodwork, high ceilings, and plentiful natural light, along with a flexible interior arrangement featuring private offices, conference rooms, reception space, and storage. Two furnaces and two central air units support the building’s mechanical systems.
The property is located at 601 S Jackson Street in Jackson, MI, within walking distance of the courthouse and near government buildings, dining, and downtown amenities. Dedicated parking and prominent exposure add convenience for occupants and visitors. The configuration is suited to professional office use, including law practices, service firms, and boutique businesses.
The property is located at 601 S Jackson Street in Jackson, MI, within walking distance of the courthouse and near government buildings, dining, and downtown amenities. Dedicated parking and prominent exposure add convenience for occupants and visitors. The configuration is suited to professional office use, including law practices, service firms, and boutique businesses.
Key Highlights
- 1896‑built two‑story office property with preserved Victorian architectural details
- Interior includes private offices, conference rooms, reception space, and storage
- Front porch, original woodwork, high ceilings, and abundant natural light
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
$28,436
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
8.62%
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%
$568,720
$568.7K
Cap Rate 7%
$406,229
$406.2K
Cap Rate 9%
$315,956
$316.0K
Market Conditions
NOI Build-Up for 3,393 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
$48.9K $14.40/SF
− Vacancy
−$10.9K −$3.23/SF
EGI
$37.9K $11.17/SF
− OpEx
−$9.5K −$2.79/SF
NOI
$28.4K $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%
$568,720
Cap Rate 7%
$406,229
Cap Rate 9%
$315,956
Alternative Uses
Best Use
Office B
$406.2K
$355.5K – $473.9K
NOI $28,436 @ 7.0% cap · market cap 8.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$541.6K
$473.9K – $631.9K
NOI $37,915 @ 7.0% cap · market cap 11.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,359
Businesses Nearby
Explore this area
Business Placement
Demographics for 49203, MI
37,269
Population
16,999
Households
2.2
Avg Household Size
39
Median Age
23%
College-Educated
93%
High-School Grad
26.5 sq mi
ZIP Area
1,406
Density / Sq Mi
$55,689
Median Household Income
$37,096
Median Earnings
$992
Median Rent
$150,900
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 - Victorian-era property offers private offices, conference areas, reception space, and storage.
Where is this office building located?
The property is located at 601 S Jackson Street Jackson, MI.
What is the asking price?
The asking price for this property is $329,900.
What are key features of this property?
This property features: 1896‑built two‑story office property with preserved Victorian architectural details; Interior includes private offices, conference rooms, reception space, and storage; Front porch, original woodwork, high ceilings, and abundant natural light
