Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    148 Cortland St Jackson, MI 49201
    Back to Search
    Property profile & analytics

    148 Cortland St Jackson, MI 49201

    View on Map
    • Retail properties & Spaces
    • 6,812 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 148 Cortland St

    Property size
    6,812 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Restaurants

    Description

    This exceptional 6,812-square-foot commercial property, located at 148 E Cortland St in downtown Jackson, Michigan, presents a unique investment opportunity. Currently vacant, this building sits on a 0.18-acre lot and is ideally suited for a bar, restaurant, or storefront operation. The property boasts a Class C liquor license, a significant asset for prospective buyers. Its strategic location in the heart of downtown Jackson offers excellent visibility and accessibility, further enhanced by its convenient proximity to I-94. The building is zoned C-3 – Central Commercial, allowing for a variety of uses. The asking price is $499,000, translating to a price per square foot of $73.25. The property consists of six units and is offered with a gross lease type. Importantly, this sale includes available grants and tax incentives, making it an even more attractive proposition. This is a rare chance to acquire a substantial commercial space in a thriving downtown area with significant potential for growth and profitability. The property is currently vacant, offering immediate occupancy for the new owner. Don't miss this opportunity to establish your business in a prime Jackson location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Jackson
    County
    Jackson
    State
    Michigan
    Longitude
    -84.4046
    Latitude
    42.2465

    Comparable in this City

    • Value Estimation by Request
      8,976 SF

      100 Washington Ave

      BAR, TAVERN • 8,976 SF
      100 Washington Ave, Jackson, MI 49201-2337
      View Details
    • Value Estimation
      $525,000
      12,540 SF

      117 Louis Glick Hwy

      BAR, TAVERN • 12,540 SF
      117 Louis Glick Hwy, Jackson, MI 49201-1304
      View Details
    • Value Estimation by Request
      1,344 SF

      215 Detroit St

      BAR, TAVERN • 1,344 SF
      215 Detroit St, Jackson, MI 49201-1438
      View Details
    • Value Estimation by Request
      4,060 SF

      629 Michigan Ave

      BAR, TAVERN • 4,060 SF
      629 Michigan Ave, Jackson, MI 49201-1623
      View Details
    • Value Estimation by Request
      8,601 SF

      105 Michigan Ave

      BAR, TAVERN • 8,601 SF
      105 Michigan Ave, Jackson, MI 49201-1401
      View Details
    • Value Estimation by Request
      4,352 SF

      133 Washington Ave

      BAR, TAVERN • 4,352 SF
      133 Washington Ave, Jackson, MI 49201-2336
      View Details

    Similar Nearby for Sale

    • $1,600,000
      7,204 SF

      Profitable Golf Course with Residence

      Well-maintained golf course with potential, includes residence and 130+ acres.
      5751 Brooklyn Rd, Jackson, MI 49201
      View Details
    • $900,000
      1.41 Acres

      Commercial Property Near Grand River

      Commercial property with development potential near the Grand River.
      409-429 Hupp Ave, Jackson, MI 49201
      View Details
    • $260,000
      1,850 SF

      Historic Bar in Downtown Jackson

      Beloved local bar in historic 1895 building for sale.
      121 E Cortland St, Jackson, MI 49201
      View Details
    • $125,000
      8,580 SF

      Downtown Jackson Commercial Building

      8,500+ sq ft commercial building in downtown Jackson.
      224 S Mechanic St, Jackson, MI 49201
      View Details
    • $475,000
      1,408 SF

      Retail Opportunity in Jackson, MI

      Retail property for sale in Jackson, Michigan.
      5781 King Rd, Jackson, MI 49201
      View Details
    • $475,000
      1,408 SF

      Iconic Restaurant Opportunity in Jackson

      Profitable restaurant with real estate, equipment, and business included.
      5781 King Rd, Jackson, MI 49201
      View Details

    Similar Nearby for Lease

    • $2,155,328
      10,640 SF

      New Dollar General Store

      New Dollar General store in Jackson, Michigan, opened in 2025.
      7519 E Michigan Ave, Jackson, MI 49201
      View Details
    • $25 SF/Yr
      845 SF

      Retail Space in Jackson, MI

      Retail space available for lease in Jackson, Michigan.
      100 W Washington Ave, Jackson, MI 49201
      View Details
    • $26 SF/Yr
      845 SF

      Historic Landmark Retail/Office Space

      Historic Jackson building with retail or office space for lease.
      100 W Washington Ave, Jackson, MI 49201
      View Details
    • $12 SF/Yr

      Office and Retail Space Available

      Office and retail spaces for lease with signage options.
      100 E Michigan Ave, Jackson, MI 49201
      View Details
    • $2,700 /Mo
      1,800 SF

      Renovated Commercial Suite in Jackson

      Main-level commercial suite in Jackson's central business district.
      300 W Washington Ave, Jackson, MI 49201
      View Details
    • $1,500 /Mo
      Pending

      Downtown Jackson Office/Retail Space

      Prime corner office/retail space in downtown Jackson for lease.
      200 S Jackson St, Jackson, MI 49201
      View Details
    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.
    148 Cortland St
    Jackson, MI 49201
    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
    148 Cortland St, Jackson, MI, 49201
    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!