Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    224 Mechanic St Jackson, MI 49201-2328

    • Auto shops
    • 8,580 SF
    • 0.20 lot acres
    OFF-MARKET
    Last Sale
    Dec 03, 2021
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-0721268
    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.

    Current Use by Public Records

    • Auto shops

    Property Details for 224 Mechanic St

    Lot size
    0.20 lot acres
    Property size
    8,580 SF
    Zone code
    C-3
    Property type
    Auto shops
    APN
    4-005800000
    APU
    4005800000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Jackson
    County
    Jackson
    State
    Michigan
    Longitude
    -84.4062
    Latitude
    42.246
    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
    2022
    $3,982
    $0.00
    $0.00
    $72,700
    -
    $0.00
    $0.00
    $145,400

    Comparable in this City

    • Value Estimation by Request
      1,200 SF

      Parnall Rd

      AUTO REPAIR, GARAGE • 1,200 SF
      Parnall Rd, Jackson, MI 49201
      View Details
    • Value Estimation by Request
      1,792 SF

      1st St

      AUTO REPAIR, GARAGE • 1,792 SF
      1st St, Jackson, MI 49201
      View Details
    • Value Estimation by Request
      2,880 SF

      3350 Cisco St

      AUTO REPAIR, GARAGE • 2,880 SF
      3350 Cisco St, Jackson, MI 49201-8804
      View Details
    • Value Estimation by Request
      7,656 SF

      237 Jackson St

      AUTO REPAIR, GARAGE • 7,656 SF
      237 Jackson St, Jackson, MI 49201-1203
      View Details
    • Value Estimation by Request
      8,816 SF

      6505 Michigan Ave

      AUTO REPAIR, GARAGE • 8,816 SF
      6505 Michigan Ave, Jackson, MI 49201-8997
      View Details
    • Value Estimation by Request
      1,600 SF

      212 State St

      AUTO REPAIR, GARAGE • 1,600 SF
      212 State St, Jackson, MI 49201-1746
      View Details

    Similar Nearby for Sale

    • $2,199,000
      50,020 SF

      Jackson, MI Business Opportunity

      Commercial property in Jackson, MI, suitable for various business ventures.
      300 W Washington Ave, Jackson, MI 49201
      View Details
    • Contact for pricing

      Downtown Jackson Commercial Space Available

      Street-level commercial space with flexible layouts in revitalized downtown building.
      S Martin Luther King Jr Dr, Jackson, MI 49201
      View Details
    • $950,000
      20,400 SF

      Commercial Property Near Railroad Station

      Commercial property with development potential near the Railroad station.
      409-429 Hupp Ave, Jackson, MI 49201
      View Details
    • $850,000
      15,840 SF

      Historic Landmark in Downtown Jackson

      Redevelopment opportunity in a prime downtown location with parking.
      100 W Washington Ave, Jackson, MI 49201
      View Details
    • $195,000
      2,028 SF

      Retail Opportunity in Jackson, MI

      Retail property for sale in Jackson, Michigan.
      205 N West Ave, Jackson, MI 49201
      View Details
    • $695,000
      13,168 SF

      Versatile Retail and Storage Property

      Retail, warehouse, and storage buildings on 1.24 acres.
      3473 Ann Arbor Rd, Jackson, MI 49201
      View Details

    Similar Nearby for Lease

    • $2,187,259

      New Dollar General Store

      New Dollar General store in Jackson, Michigan, opened in 2025.
      7519 E Michigan 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
    • $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
    • $13 SF/Yr
      2,244 SF

      Office Space in Jackson, MI

      Office space available for lease in Jackson, Michigan.
      1010 Burr St, Jackson, MI 49201
      View Details
    • $800 /Mo
      106 SF

      Office Space in Jackson, MI

      Office space available for rent in Jackson, Michigan.
      1010 Burr St, Jackson, MI 49201
      View Details
    • $850 /Mo
      10,992 SF

      Downtown Jackson Open Office Space

      Over 1,800 sqft of open space in downtown Jackson.
      632 E Michigan Ave, 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.
    224 Mechanic St
    Jackson, MI 49201-2328
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.