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    2021 Wellworth Ave Jackson, MI 49203

    Sponsored
    For Sale
    $6,900,000

    71,815 SF Class A Industrial Building

    Property size:
    71,815 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    400
    This exceptional 71,815-square-foot Class A industrial building, located at 2021 Wellworth Ave in Jackson, Michigan, is for sale for $6,900,000 ($96.08/SF). Built in 2009 on a 3.42-acre lot, this single-tenant property features a two-story design with I-2 zoning. The building boasts a spacious layout including 1,745 square feet of showroom space, 10,570 square feet of office space, and a substantial 59,500-square-foot shop/warehouse area with 30-foot clear ceilings. Loading capabilities include six loading docks and five dock-high doors. The property is Energy Star rated and incorporates numerous sustainable features, such as LED lighting with daylight harvesting and occupancy controls, solar-tracking skylights, super multi-blanket insulation, and a geothermal heating and cooling system. Additional amenities include a 1200 Amp I-Line Square D Panel, a fire suppression system, a Bosch-certified clean room, a whole-building generator, compressed air, a paint booth, and a suspended 0.7-mile walking track. The property also offers ample parking (52 spots) and an inviting break room. Conveniently located near improved highways, an expanded airport, and rail access, this property presents a unique opportunity for businesses seeking a modern, efficient, and environmentally conscious industrial space in a prime Michigan location. The property's APN is 5-2202.0500. Ownership is held by an LLC.

    Property Features for 2021 Wellworth Ave

    General Information

    Property type
    Distribution properties
    Square Feet
    71,815 SF
    Class
    A
    Lot Size
    148,975 SF

    Building Details

    Year Built
    2009
    Buildings
    1
    Stories
    2

    HighLights

    • 71,815 SF Class A industrial building for sale at $6,900,000 ($96.08/SF).
    • Built in 2009, this single‑tenant property features 1,745 SF of showroom, 10,570 SF of office space, and a 59,500 SF warehouse with 30' clear height.
    • Six loading docks and five dock‑high doors.
    • Energy Star rated with LED lighting, daylight harvesting, solar‑tracking skylights, super multi‑blanket insulation, and a geothermal HVAC system.
    • Amenities include a generator, fire suppression system, Bosch‑certified clean room, compressed air, paint booth, 52 parking spaces, and a break room.
    Property Profile Location Intelligence

    Current Use by Public Records

    Manufacturing properties

    Map

    City
    Jackson
    County
    Jackson
    State
    Michigan
    Longitude
    -84.377829237642
    Latitude
    42.228148556853

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    FAQs

    What type of property is this?
    Distribution property - 71,815 SF Class A Industrial Building
    Where is this distribution property located?
    The property is located at 2021 Wellworth Ave Jackson, MI.
    What is the asking price?
    The asking price for this property is $6,900,000.
    What are key features of this property?
    This property features: 71,815 SF Class A industrial building for sale at $6,900,000 ($96.08/SF).; Built in 2009, this single-tenant property features 1,745 SF of showroom, 10,570 SF of office space, and a 59,500 SF warehouse with 30' clear height.; Six loading docks and five dock-high doors.
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    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.

    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
    2021 Wellworth Ave Jackson, MI 49203
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