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Property profile & analytics
FOR SALE
Distribution centers
2021 Wellworth Ave, Jackson, MI 49203
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US43-1190485
For Sale
1 / 42
$5,900,000
2021 Wellworth Ave, Jackson, MI 49203
View Listing →
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
2008
Total area
71,545 SF
Lot
3.42 ac (148,975 SF)
Zoning code
I-2
APN
5-2202.0500
UPID
US43-1190485
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
$4.23M
Blend (final)
Blend
$4.24M
Owner & transaction history
Everlast Lighting INC · 8 yrs held
Everlast Lighting INC
since 2018
3 recorded transactions
Zoning & alternative use
I-2 · Jackson, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$6.4M
+121.3%
Medical building
$6.1M
+109.8%
Retail stores
$5.1M
+77.8%
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)
Refine in 60 seconds, get exact suggested price
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$2,885,000
Current use
RESTAURANT
$6,380,000
Change: +121% · Conversion: Difficult
MEDICAL BUILDING
$6,050,000
Change: +110% · Conversion: Difficult
RETAIL STORES
$5,130,000
Change: +78% · Conversion: Moderate
OFFICE BUILDING
$5,040,000
Change: +75% · Conversion: Difficult
COMMERCIAL (GENERAL)
$4,535,000
Change: +57% · Conversion: Difficult
AUTO REPAIR, GARAGE
$4,020,000
Change: +39% · Conversion: Easy
Blend value · Realmo final
$4.24M
Range $3.81M – $4.66M · ±10%
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
$59 / 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
$118,435
Tax year 2022
Assessed value
$2,294,500
Assessed 2023
Previous assessed
$2,191,500
+4.7% YoY
Effective rate
5.16%
On assessed value
Total market value
$4,589,000
Applied tax rate
50.0000
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
For Sale
Year built
2008
Heating
FORCED AIR
Buildings
3
Stories
1
Total area
71,545 SF
Lot
3.42 ac (148,975 SF)
Zoning code
I-2
APN
5-2202.0500
UPID
US43-1190485
Jurisdiction
JACKSON
Zoning & alternative use
I-2 · Jackson, MI
Zoning I-2 · permitted uses
I-2 · Jackson, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Jackson. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$2.9M
RESTAURANT
Est. value
$6.4M
MEDICAL BUILDING
Est. value
$6.1M
RETAIL STORES
Est. value
$5.1M
OFFICE BUILDING
Est. value
$5.0M
COMMERCIAL (GENERAL)
Est. value
$4.5M
AUTO REPAIR, GARAGE
Est. value
$4.0M
WAREHOUSE, STORAGE Current
RESTAURANT
MEDICAL BUILDING
RETAIL STORES
OFFICE BUILDING
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2008
Heating
FORCED AIR
Stories
1
Buildings
3
Lot
3.42 ac
Current owner
From public records · entity-resolved
Everlast Lighting INC
Entity
Mailing address
2021 WELLWORTH, JACKSON, MI 49203-3451
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2018
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
Jan 8, 2018
—
Everlast Lighting INC
—
Deed
related
$3,000,000 · Comerica Bk
—
—
South Fifty Dev LLC
—
Loan Modification
related
$2,400,000 · Comerica Bank
—
—
Everlast Lighting INC
—
Loan Modification
related
$3,000,000 · Comerica Bk
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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