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Property profile & analytics
OFF-MARKET
Estimated value
$930,000
Medical Office Space
309 Page Ave, Jackson, MI 49201-2419
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US43-1359422
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2003
Total area
8,572 SF
Lot
1.25 ac (54,363 SF)
Zoning code
C-2
APN
6-0525.1000
UPID
US43-1359422
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
Current use
Occupant on record · Public records
-
Usman S Khokhar, MD Physician
-
Angela J Ghuneim, DO Physician
-
Brijesh Patel Physician
-
Jaclyn Efrusy Physician
-
Jennifer Fox Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$931k
Blend (final)
Blend
$930k
Owner & transaction history
Elliott Bay Medical Prop Holdings I · 1 yrs held
Elliott Bay Medical Prop Holdings I
since 2025
6 recorded transactions
Zoning & alternative use
C-2 · Jackson, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$765,000
+5.5%
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
MEDICAL BUILDING
$725,000
Current use
RESTAURANT
$765,000
Change: +5% · Conversion: Difficult
RETAIL STORES
$615,000
Change: -15% · Conversion: Difficult
OFFICE BUILDING
$605,000
Change: -17% · Conversion: Easy
Blend value · Realmo final
$930k
Range $837k – $1.02M · ±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
$108 / 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
$38,168
Tax year 2022
Assessed value
$892,000
Assessed 2023
Previous assessed
$719,600
+24.0% YoY
Effective rate
4.28%
On assessed value
Total market value
$1,784,000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2003
Heating
FORCED AIR
Buildings
1
Stories
1
Total area
8,572 SF
Lot
1.25 ac (54,363 SF)
Zoning code
C-2
APN
6-0525.1000
UPID
US43-1359422
Jurisdiction
JACKSON
Zoning & alternative use
C-2 · Jackson, MI
Zoning C-2 · permitted uses
C-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
MEDICAL BUILDING Current
Est. value
$725,000
RESTAURANT
Est. value
$765,000
RETAIL STORES
Est. value
$615,000
OFFICE BUILDING
Est. value
$605,000
MEDICAL BUILDING Current
RESTAURANT
RETAIL STORES
OFFICE BUILDING
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
2003
Heating
FORCED AIR
Stories
1
Buildings
1
Lot
1.25 ac
Current owner
From public records · entity-resolved
Elliott Bay Medical Prop Holdings I
Entity
Mailing address
617 EASTLAKE AVE E STE #305, SEATTLE, WA 98109-5682
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 23, 2025
—
Elliott Bay Medical Prop Holdings I
Elliott Bay Medical Prop Holdings I
Deed
related
$75,000,000 · Fifth Third Bank NA
Apr 17, 2023
—
Elliott Bay Medical Prop Holdings L
Michigan Heart Jackson Properties L
Deed
$2,361,750 · Synovus Bank
Sep 26, 2018
—
Michigan Heart Jackson Prop L
—
Deed
related
$1,291,094 · Bank Of Ann Arbor
—
—
Michigan Heart Jackson Props L
—
Deed Of Trust
related
$234,500 · Bank Of Ann Arbor
—
—
Heart Jackson Props L Michigan
—
Loan Modification
related
—
—
—
Michigan Heart Jackson Prop L
—
Loan Modification
related
$1,291,094 · Bank Of Ann Arbor
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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