1244 Mcdevitt Ave Jackson, MI 49203-6073
Property profile & analytics
1244 Mcdevitt Ave, Jackson, MI 49203-6073
- Outlet malls
- 8,050 SF
- 1.09 lot acres
Property ID
US43-0927605
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Family Dollar / Discount Store
- Redbox / Cinema / (Bike/Boat/Book/etc) Store
Property Details for 1244 Mcdevitt Ave
- Year built
- 2007
- Lot size
- 1.09 lot acres
- Zone code
- C-1
- Property type
- Outlet malls
- Property subtype
- Shopping centers
- APN
- 000-13-24-151-045-06
- APU
- 132415104506
Description
This exceptional investment opportunity presents a 8,050 square foot Family Dollar store in Jackson, Michigan. Located on E McDevitt Ave, directly off Highway 127 (with high daily traffic volume), this property boasts a strong 9.00% cap rate and a healthy rent-to-sales ratio. The property features a recently extended corporate net lease with Dollar Tree (NYSE: DLTR), a Fortune 500 company with an S&P investment grade credit rating, guaranteeing financial stability. The lease, originally commencing January 31, 2007, and recently extended in January 2023, has a remaining term of approximately 3 years, extending to November 30, 2027, with built-in 10% rent increases in each of the remaining five, 5-year option periods. The asking price is $806,000 ($100.12/sq ft), and the Net Operating Income (NOI) is $72,500. The tenant is responsible for most operating expenses, including taxes, insurance, HVAC, and utilities, minimizing landlord responsibilities to roof, structure, and major parking lot repairs. The 1.09-acre lot houses a building constructed in 2007. Jackson's robust economy, anchored by major employers like CMS Energy, Henry Ford Health Systems, and Eaton Corporation, along with several colleges and universities, further enhances the investment's appeal. This is a rare opportunity to acquire a well-positioned, high-performing retail asset with a secure, long-term lease.
Value Estimations
based on Realmo’s proprietary methodology
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $539,000
- AI Estimate
- $539,000
Market price range: $269k - $898kMarket price range: $269k - $898k -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $575,000 Current use
- RESTAURANT
- $720,000 Change: +24% Conversion: Easy
- MEDICAL BUILDING
- $680,000 Change: +18% Conversion: Difficult
- OFFICE BUILDING
- $565,000 Change: -2% Conversion: Easy
- COMMERCIAL (GENERAL)
- $510,000 Change: -12% Conversion: Easy
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Location Insight
- Map
- Local Demand
- City
- Jackson
- County
- Jackson
- State
- Michigan
- Longitude
- -84.3821
- Latitude
- 42.1973
- CBSA code
- 27100
- CBSA name
- JACKSON, MI METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2020
$9,064
$0.00
$0.00
$195,300
-
$0.00
$0.00
$390,600
