Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Turnkey Medical Office in Jackson Title is generated by Realmo AI

    603 Lansing Avenue, Jackson, MI 49202

    View on Map
    Claim this Listing
    Picture of Medical Office Space at 603 Lansing Avenue, Jackson, MI
    For Sale
    $699,900

    COMMERCIAL - Jackson, MI

    Type:Office
    Property size:
    4,340 SF
    Lot size:
    1.37 Acres
    Price / SF:
    $161/SF
    Added:
    Feb 20, 2026
    Days on Market:
    90
    Last Refresh:
    May 21 at 9:06 pm

    Property Features for 603 Lansing Avenue

    General Information

    Property type
    Commercial Sale
    Property subtype
    Office
    Bathrooms
    2
    Rooms
    Bathroom 1, Bathroom 2
    Parking
    20
    Standard status
    Active
    APN
    1-033300000
    Size
    4,340 SF
    Lot size
    1.37 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    Block 4 Durand's ADD
    Tax Annual Amount
    14978

    Utilities

    Utilities
    Cable Available
    Heating system
    Forced Air

    Building Details

    Year built
    1994
    Floors in Building
    1
    Number of units
    4
    Building materials
    Brick
    Roof type
    Rubber

    We can help!

    Listing Contact
    ROBERT TIPTON

    Listing agent ROBERT TIPTON License #6501375443

    Listing office Exit Realty 1st LLC 740 Laurence Ave, JACKSON, MI

    Listing date Feb 20, 2026

    MLS# 26006263

    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.

    HighLights

    • Turn key operating medical office
    • Complete with book of business
    • Great location
    • Brick construction
    • Equipment is negotiable
    • Lease possible

    Overview

    This is a turnkey operating medical office, complete with a book of business. The property is situated in a great location. The equipment is negotiable. It is suitable for professionals or investors. Leasing the property is a possibility. The lot size is 1.37 acres. The building has 4,340 square feet of space. The property is located in Jackson, Michigan.

    Financial Insights

    Value Estimation Calculated for Healthcare Medical

    Conservative
    $440.5K
    NOI $39,646 @ 9.00% cap · cautious / downside scenario
    Moderate
    $566.4K
    NOI $39,646 @ 7.00% cap · market / base-case scenario
    Aggressive
    $792.9K
    NOI $39,646 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Healthcare Medical

    Component $ $/SF
    Gross rent $75.5k $17.40
    − Vacancy −$9.4k −$2.18
    EGI $66.1k $15.22
    − OpEx −$26.4k −$6.09
    NOI $39.6k $9.13
    4,340 SF · lease $17.40/SF/yr · vacancy 12.50% · expense 40.00%

    Alternative Use Scenarios

    Best Use
    Healthcare Medical
    $566.4K
    $495.6K – $660.8K (±1% cap)
    NOI $39,646 @ 7.0% cap · market cap 5.66%
    Second Best
    Office B
    $519.6K
    $454.7K – $606.2K (±1% cap)
    NOI $36,373 @ 7.0% cap · market cap 5.20%
    Theoretical Best
    Office A
    $692.8K
    $606.2K – $808.3K (±1% cap)
    NOI $48,497 @ 7.0% cap · market cap 6.93%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Dr. David O. ... Physician Central Clinic Physician

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Jackson
    County
    Jackson
    State
    Michigan
    Longitude
    -84.41365
    Latitude
    42.255163

    Nearby Similar for Sale

    • $450,000
      5,670 SF

      Turnkey Professional Building on Spring Arbor

      All-brick building suited for medical or high-touch service industries.
      2600 Spring Arbor Road, Jackson, MI 49203
      View Details
    • $335,000
      2,830 SF

      Freestanding Retail Banking Facility

      2,830 SF building on 0.56 acres in Jackson, MI.
      2815 E Michigan Avenue, Jackson, MI 49202
      View Details
    • $540,000
      3,111 SF

      Jackson, MI Business Opportunity

      Commercial property in Jackson, MI, ideal for various businesses.
      124 S Brooklyn Road, Jackson, MI 49201
      View Details
    • $450,000
      9,696 SF

      Industrial Space with Heavy Power

      9,696 SF industrial space with heavy power and upgrades.
      301 Hillsdale Street, Jackson, MI 49202
      View Details
    • $500,000
      4,754 SF

      Retail Opportunity in Jackson, MI

      Retail space available for sale in Jackson, Michigan.
      300 W North Street, Jackson, MI 49202
      View Details
    • $650,000
      2,936 SF

      Jackson, MI Retail Opportunity

      Corner lot near downtown and hospital with high traffic.
      1712 E Michigan Avenue, Jackson, MI 49202
      View Details
    • $850,000
      14,592 SF

      Industrial Facility on Grand River

      14,592 sq ft industrial facility on 3.46 acres.
      2010 Micor Drive, Jackson, MI 49203
      View Details
    • $375,000
      3,111 SF

      Retail Opportunity in Jackson, MI

      Retail space available for sale in Jackson, Michigan.
      124 S Brooklyn Road, Jackson, MI 49201
      View Details
    • $450,000
      1,865 SF

      Versatile Commercial Building on Michigan

      Commercial building ideal for medical or professional office use.
      2009 W Michigan Avenue, Jackson, MI 49202
      View Details
    • $165,000
      4,284 SF

      Versatile Shop and Office Space

      Meticulously maintained industrial property in Jackson's Northside with versatile space.
      204 Homewild Avenue, Jackson, MI 49201
      View Details
    • $450,000
      5,670 SF

      Jackson Office Building For Sale

      Office building with 5,670 square feet of space.
      2600 Spring Arbor Road, Jackson, MI 49203
      View Details
    • $399,000
      3,016 SF

      Commercial Building on 4 Acres

      3,000 sq ft building on 4 acres in Jackson.
      130 East Street, Jackson, MI 49201
      View Details

    FAQs

    What type of property is this?
    Medical Office Space - Operating medical office with equipment, great location, and business.
    Where is this medical office space located?
    The property is located at 603 Lansing Avenue Jackson, MI.
    What is the asking price?
    The asking price for this property is $699,900.
    What are key features of this property?
    This property features: Turn key operating medical office; Complete with book of business; Great location
    (517) 795-4923
    We can help!
    Listing Contact
    ROBERT TIPTON
    Real Estate License ID: 6501375443
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    603 Lansing Avenue, Jackson, MI 49202
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!