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
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    500 Lansing Ave Jackson, MI 49201-2820

    • Medical offices
    • 3,497 SF
    • 1.12 lot acres
    OFF-MARKET
    Last Sale
    Oct 29, 2020
    $218,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-2147554
    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

    • Occupational Health Program / Medical Clinic
    • Panda / High School / Daycare Center
    • Amy Davies / Pediatrician / Physician
    • Richards Sandra R / Physician
    • Center for Women Pregnancy Services / Medical Clinic

    Property Details for 500 Lansing Ave

    Year built
    1966
    Lot size
    1.12 lot acres
    Property size
    3,497 SF
    Zone code
    C-2
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    2-089400000
    APU
    2089400000

    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
    -84.4125
    Latitude
    42.2527
    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
    2020
    $10,336
    $0.00
    $0.00
    $0.00
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      1,320 SF

      519 Ave

      MEDICAL BUILDING • 1,320 SF
      519 Ave, Jackson, MI 49201-1731
      View Details
    • Value Estimation
      $930,000
      8,572 SF

      309 Page Ave

      MEDICAL BUILDING • 8,572 SF
      309 Page Ave, Jackson, MI 49201-2419
      View Details
    • Value Estimation by Request
      4,100 SF

      760 Franklin St

      MEDICAL BUILDING • 4,100 SF
      760 Franklin St, Jackson, MI 49201-2048
      View Details
    • Value Estimation
      $640,000
      7,544 SF

      1111 10th St Ste, Unit 100

      MEDICAL BUILDING • 7,544 SF
      1111 10th St Ste, Jackson, MI 49201-2493
      View Details
    • Value Estimation by Request
      2,528 SF

      1500 Parnall Rd

      MEDICAL CLINIC • 2,528 SF
      1500 Parnall Rd, Jackson, MI 49201-8660
      View Details
    • Value Estimation by Request
      3,699 SF

      720 Franklin St

      MEDICAL BUILDING • 3,699 SF
      720 Franklin St, Jackson, MI 49201-1674
      View Details

    Similar Nearby for Sale

    • $225,000

      Remodeled Office Building Near Hospital

      Remodeled office building suitable for medical, salon, or office use.
      1010 Burr St, Jackson, MI 49201
      View Details
    • New
      $1,725,000
      15,000 SF

      Medical Office Building on Michigan

      15,000 SF medical office building in Jackson, Michigan.
      900 E Michigan Ave, Jackson, MI 49201
      View Details
    • $129,000
      1,807 SF

      Downtown Jackson Medical/Professional Office

      Updated office space in thriving downtown Jackson medical/professional building.
      306 W Washington Ave, Jackson, MI 49201
      View Details
    • $225,000
      2,244 SF

      Remodeled Office Building Near Hospital

      2,244 SF office building remodeled in 2023/24 near Henry Ford Hospital.
      1010 Burr St, Jackson, MI 49201
      View Details
    • New
      $345,000
      1,880 SF

      Versatile Commercial Property Near I-94

      Commercial property suitable for medical, retail, or professional service uses.
      3165 County Farm Rd, Jackson, MI 49201
      View Details
    • $225,000
      2,244 SF

      Office Building in Jackson, MI

      Office building for sale in Jackson, Michigan.
      1010 Burr St, Jackson, MI 49201
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      1,600 SF

      Renovated Commercial Suite in Jackson

      Move-in ready commercial suite in Jackson's central business district.
      300 W Washington Ave, Jackson, MI 49201
      View Details
    • $9 SF/Yr
      300,000 SF

      Commonwealth Commerce Center, Jackson MI

      Downtown Jackson Office Space: Flexible Sizes Available
      209 Washington Ave, Jackson, MI 49201
      View Details
    • $13 SF/Yr
      2,244 SF

      Remodeled Office Building Near Hospital

      2,244 SF office building remodeled in 2023/24, near Henry Ford Hospital.
      1010 Burr St, Jackson, MI 49201
      View Details
    • $11 SF/Yr
      15,000 SF

      Medical/Professional Office Spaces For Lease

      Prime location near Henry Ford Hospital, move-in ready suites available.
      900 E Michigan Ave, Jackson, MI 49201
      View Details
    • $11 SF/Yr
      15,000 SF

      Medical/Professional Office Spaces For Lease

      Prime location near Henry Ford Hospital, move-in ready suites available.
      900 E Michigan Ave, Jackson, MI 49201
      View Details
    • $18 SF/Yr
      400 SF

      Renovated Office Suite in Jackson

      Move-in ready office suite in central business district.
      300 W Washington 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.
    500 Lansing Ave
    Jackson, MI 49201-2820
    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.