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Property profile & analytics
OFF-MARKET
Estimated value
$355,000
Banks
1650 Michigan Ave Jackson, MI 49202-4065
Individually Owned
1-yr Hold
~
Est. High Equity
Property ID
US43-0883075
Property summary
AI-generated overview
This exceptional 2,692 square foot retail space, formerly a bank branch, presents a unique investment opportunity in Jackson, Michigan. Located at 1650 W Michigan Ave, this single-story, Class B building sits on a 0.48-acre lot (APN: 000-08-33-376-001-00) and boasts a highly desirable location between Walmart and McDonald's, providing excellent visibility and accessibility. The property, built in 1992 and extensively renovated in 2022, offers 2,457 square feet of net rentable space, currently vacant, and is zoned for Planned Commercial District (PC-1). Its strategic placement at the entrance to Westwood Mall, directly across from McDonald's with its two-lane drive-thru and ATM lane, ensures high foot traffic and potential for significant customer engagement. The asking price is $450,000 ($167.16/sq ft). Note that Old National Bank currently leases space for an ATM, generating monthly rental income. This property is ideal for a variety of retail uses and represents a strong investment in a thriving commercial area.
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
1972
Total area
2,692 SF
Lot
0.48 ac (20,909 SF)
Zoning code
PC-1
APN
000-08-33-376-001-00
UPID
US43-0883075
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$355k
Owner & transaction history
Thai Nguyen · 1 yrs held
Thai Nguyen
since 2025
Last sale
$375,000
3 recorded transactions
Zoning & alternative use
PC-1 · Jackson, MI
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Jackson submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Jackson submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
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T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$355,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$355k
Range $320k – $391k · ±10% · vs last sale $375k (Feb 13 2025)
Last sale anchor
$375k
Feb 13 2025
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$132 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$16,371
Tax year 2022
Assessed value
$277,000
Assessed 2023
Previous assessed
$288,900
-4.1% YoY
Effective rate
5.91%
On assessed value
Total market value
$554,000
Applied tax rate
1.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Banks
Use group
FINANCIAL BUILDING
Status
Off-Market
Year built
1972
Heating
FORCED AIR
Buildings
1
Stories
1
Total area
2,692 SF
Lot
0.48 ac (20,909 SF)
Zoning code
PC-1
APN
000-08-33-376-001-00
UPID
US43-0883075
Jurisdiction
JACKSON
Zoning & alternative use
PC-1 · Jackson, MIZoning PC-1 · permitted uses
PC-1 · Jackson, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
code of ordinances
Building & site characteristics
From public records
Year built
1972
Heating
FORCED AIR
Stories
1
Buildings
1
Lot
0.48 ac
Current owner
From public records · entity-resolved
Thai Nguyen
Individual
Mailing address
343 LAWRENCE AVE, ADRIAN, MI 49221-3340
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 13, 2025
$375,000
Thai Nguyen
1650 W Michigan LLC
Deed
$275,000 · 1650 W Michigan Ave LLC
Oct 8, 2021
$85,000
1650 W Michigan Ave LLC
Old National Bank
Deed
—
Jul 24, 2013
—
Natl Bk Old
Bank Of America
Grant Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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