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

    2401 Michigan Ave Jackson, MI 49202-3755

    • Amusement parks
    • 4,320 SF
    • 0.21 lot acres
    OFF-MARKET
    Last Sale
    May 11, 2022
    $299,900
    Value Estimations
    $300,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-0680848
    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

    • Little Mack Entertainment / Video Arcade / Adult Entertainment Store
    • Relim Investment / Financial Planner

    Property Details for 2401 Michigan Ave

    Year built
    1964
    Lot size
    0.21 lot acres
    Property size
    4,320 SF
    Zone code
    I-2
    Property type
    Amusement parks
    APN
    000-08-36-405-001-00
    APU
    83640500100

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $300,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Jackson
    County
    Jackson
    State
    Michigan
    Longitude
    -84.3745
    Latitude
    42.253
    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
    $4,786
    $0.00
    $0.00
    $88,700
    -
    $0.00
    $0.00
    $177,400

    Comparable in this City

    • Value Estimation
      $415,000
      10,800 SF

      1715 Michigan Ave

      ARCADES (AMUSEMENT) • 10,800 SF
      1715 Michigan Ave, Jackson, MI 49202-3643
      View Details
    • Value Estimation by Request
      6,826 SF

      1691 Springport Rd

      AUDITORIUM • 6,826 SF
      1691 Springport Rd, Jackson, MI 49202-1433
      View Details
    • Value Estimation by Request
      31,938 SF

      3737 Lansing Ave

      ARENA, CONVENTION CENTER • 31,938 SF
      3737 Lansing Ave, Jackson, MI 49202-1015
      View Details
    • Value Estimation by Request
      31,386 SF

      1700 Wisner St

      THEATER (MOVIE) • 31,386 SF
      1700 Wisner St, Jackson, MI 49202-1905
      View Details
    • Value Estimation by Request
      2,080 SF

      1302 Cooper St

      AUDITORIUM • 2,080 SF
      1302 Cooper St, Jackson, MI 49202-2355
      View Details
    • Value Estimation by Request
      8,916 SF

      801 Michigan Ave

      AUDITORIUM • 8,916 SF
      801 Michigan Ave, Jackson, MI 49202-4103
      View Details

    Similar Nearby for Sale

    • $559,000
      9,329 SF

      Jackson Industrial Building - $559K

      9,329 SF Manufacturing/Warehouse
      1603 Wildwood Ave, Jackson, MI 49202
      View Details
    • $750,000
      11,118 SF

      Jackson Medical Office Opportunity

      11,118 SF Former Fitness Center, $750,000
      2020 Bondsteel Dr, Jackson, MI 49202
      View Details
    • $75,000
      0.37 Acres

      Commercial Land on Laurence Avenue

      Commercial land available on high-traffic Laurence Ave in Jackson, MI.
      Vl Laurence Ave, Jackson, MI 49202
      View Details
    • $599,000

      Corner Parcel on Michigan Avenue

      0.69 acre corner parcel with high traffic frontage.
      1712 E Michigan Ave, Jackson, MI 49202
      View Details
    • $2,999,997
      1,500 SF

      2.65 Acre Commercial Property

      Commercial property with redevelopment potential and high visibility location.
      844 Barrett Ln, Jackson, MI 49202
      View Details
    • $289,000
      3,233 SF

      Prime Commercial Space in Jackson

      High-traffic location with flexible space and income potential.
      1425 Wildwood Ave, Jackson, MI 49202
      View Details

    Similar Nearby for Lease

    • $14 SF/Yr
      12,000 SF

      East Jackson Center Retail Space

      Prime Jackson, MI Shopping Center Space Available
      3021 Michigan Ave, Blackman, MI 49202
      View Details
    • $12 SF/Yr
      2,850 SF

      Office Space in Jackson, MI

      Office space available for lease in Jackson, Michigan.
      740 Laurence Ave, Jackson, MI 49202
      View Details
    • Contact for pricing
      10,960 SF

      Former Pharmacy with Drive Thru

      10,960 SF retail building on 2 acres in Jackson, MI.
      3100 E Michigan Ave, Jackson, MI 49202
      View Details
    • $16 SF/Yr
      1,000 SF

      Retail Space in Jackson Crossing

      1,000 SF retail space with prominent signage available for rent.
      1222 Jackson Xing, Jackson, MI 49202
      View Details
    • $645,000
      2,989 SF

      Renovated Medical Office Building

      Two-tenant medical office building with modern amenities and ample parking.
      813 W Michigan Ave, Jackson, MI 49202
      View Details
    • $10 SF/Yr
      1,550 SF

      Office Space in Prime Location

      Affordable office space in high-traffic Jackson location, elevator access.
      950 W Monroe St, Jackson, MI 49202
      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.
    2401 Michigan Ave
    Jackson, MI 49202-3755
    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.