Entity Owned 
For Sale
1 / 20
$699,900
603 Lansing Ave, Jackson, MI 49202
View Listing →
Property summary
AI-generated overview
This medical office property was built in 1994 and is configured to support an established medical practice. It has been used as an operational office space for healthcare delivery and includes equipment and operational components that are considered separately from the real estate. The property layout and improvements are suited to medical professionals and may also be considered for investors seeking an existing office operation; a lease arrangement is a possible use structure.
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1962
Total area
8,680 SF
Lot
1.37 ac (59,851 SF)
Zoning code
R-4
APN
1-033300000
UPID
US43-1325493
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Physician
-
Physician
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$528k
Blend (final)
Blend
$390k
Owner & transaction history
1 recorded transaction
Zoning & alternative use
R-4 · Jackson, MI
Zoning description
Sec. 28-39. - R-4 high density apartment and office district. The high density apartment and office district is established for high density residential uses located close to the central business district. The district p…
General category
RESIDENTIAL
Top alternative use upside
Restaurant
$775,000
+5.5%
Retail stores
$765,000
+4.4%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
4 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
Professional Plan · 30 reports
from $99/month
from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$390k
Value range
$351k – $429k
±10% around blend
Estimated value / SF
$45 / SF
Confidence
Property data
100
Market benchmarks
67
Comparable evidence
60
Income certainty
100
$351k
blend $390k
$429k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
8,680 SF
Lot area
1.37 ac
Year built
1962
Stories
1
APN
1-033300000
Zoning
R-4
Assessed value
$222,100
Annual tax
$13,293
3
Income approach: direct capitalization
Partial preview
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$13,293
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$528k
Range $528k – $942k
Evidence
6 found
Recent peer sales in this city
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$390k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 26 sales
$85
-47%
County 28 sales
$82
-45%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $45/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Restaurant
Gross theoretical uplift
+5%
vs current-use indication
Retail Stores
Medical Building · current use
Office Building
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
NOI build-up · 9 steps
Market rates by use type
PDF export
Professional Plan · 30 reports
from $99/month
from $99/month
Overview
Selected market yield
5.66%
Selected cap rate for this medical office space
Derived from the Jackson market rent, vacancy and expense benchmarks for this use type.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 5.66%
9.0%
NOI (est.)
$40k *
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$700k
Move the market yield to see immediate price impact.
Value / SF
$81
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.16%5.66%6.16%
$36k
$691k
$630k
$579k
$40k
$768k
$700k
$644k
$44k
$845k
$771k
$708k
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$13,293
Tax year 2022
Assessed value
$222,100
Assessed 2023
Previous assessed
$277,900
-20.1% YoY
Effective rate
5.99%
On assessed value
Total market value
$444,200
Applied tax rate
50.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Status
For Sale
Year built
1962
Heating
FORCED AIR
Buildings
2
Stories
1
Total area
8,680 SF
Lot
1.37 ac (59,851 SF)
Zoning code
R-4
APN
1-033300000
UPID
US43-1325493
Jurisdiction
JACKSON
Zoning & alternative use
R-4 · Jackson, MIZoning R-4 · permitted uses
R-4 · Jackson, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Zoning description
Sec. 28-39. - R-4 high density apartment and office district. The high density apartment and office district is established for high density residential uses located close to the central business district. The district p…
General category
RESIDENTIAL
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1962
Heating
FORCED AIR
Stories
1
Buildings
2
Lot
1.37 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Matched to the official district catalog
R-4
RESIDENTIAL
Jurisdiction
Jackson, MI
Recorded code
R-4
Official district
R-4
Official district profile
What the municipal code says about R-4
Zoning description
Sec. 28-39. - R-4 high density apartment and office district. The high density apartment and office district is established for high density residential uses located close to the central business district. The district p…
General category
RESIDENTIAL
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for R-4 in Jackson, MI.
What opens after registration
Zoning profile
Official descriptionThe district text from the municipal code
District factsZone name, category and district area
2 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
One complete report on every paid plan · 30 · 300 reports per month.
Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 30 · 300 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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?”
Get access to Data & Analytics
Choose membership plan that suits your needs
Unlock Full Report
$9
one-time
Single Property Report
Full report includes
- Full Property Data
- Historical Records
- Value Estimation
- NOI Potential
- Cap Rate Calculation
- Ownership
- Location Insight
- Alternative use
- Local Zoning Insight
MOST POPULAR
Professional Plan
$99
/mo
30 property reports a month.
Cancel anytime.
Cancel anytime.
Your membership includes
- 30 reports a month
- Location Analytics
- Market Trends
- Full Property Data
- Historical Records
- Value Estimation
- NOI Potential
- Cap Rate Calculation
- Ownership
- Location Insight
- Alternative use
- Local Zoning Insight
Enterprise Plan
$299
/mo
300 property reports a month.
Cancel anytime.
Cancel anytime.
Your membership includes
- 300 reports a month
- Location Analytics
- Market Trends
- Full Property Data
- Historical Records
- Value Estimation
- NOI Potential
- Cap Rate Calculation
- Ownership
- Location Insight
- Alternative use
- Local Zoning Insight
Unlock Light Report
Free
Confirm your email
and get 1 Light Report
and get 1 Light Report
Light report includes
- Property Information
- Historical Records
- Value Estimation
- NOI Potential
- Cap Rate Potential
- Location Insight
- Alternative use
- Local Zoning Insight
Confirm your e-mail to get the report
