1118 Greenwood AveJackson, MI 49203

Property Details for 1118 Greenwood Ave

Year built

1940

Lot size

0.18 AC

Property size (Sq ft)

1,395 SF

Zone code

C-2

Property type

Retail space

APN

4-128800000

APU

4128800000

Description

This exceptional 1,395 square foot commercial building, situated at the corner of Greenwood Avenue and First Street in Jackson, MI, presents a unique investment opportunity. The property boasts a highly desirable C-2 zoning, allowing for a variety of uses. The main building comprises approximately 800 square feet of open retail space, ideal for a variety of businesses. A drive-thru window, a dedicated prep area equipped with a commercial three-compartment sink, and a storage room with shelving add significant operational advantages. A recently installed tankless water heater ensures efficient and reliable hot water. A half-bath is conveniently located within the main retail area. A separate 600 square foot office space, accessible from the main building, offers built-in shelving, a half-bath, and a stand-up shower, providing ample space for administrative functions or additional business operations. The property also includes 12 parking spaces and a fenced backyard, enhancing convenience and security. The building features central air conditioning, natural gas, city water, and sewer connections. The 0.37-acre lot provides ample space for expansion or outdoor activities. The property is being sold "as is." This versatile property is perfect for an owner-operator or investor seeking a strong return on investment in a thriving Jackson location.

• CAP approach

  CAP return

  Valuation

  6%

  $351,047

  6.5%

  $324,043

  7%

  $300,897

• Comparable approach

  Method

  Valuation

  Relative Method

  $277,047

  Geo Method

  $277,047

• Alternative Use

  Use

  Valuation

  Residential

  $273,342

  Hospitality

  $250,380

  Educational

  $208,313

  Medical

  $215,478

  Retail

  $324,043

Location Insight

City

Jackson

County

Jackson

State

Michigan

Latitude

42.2357

Longitude

-84.4145

CBSA code

27100

CBSA name

JACKSON, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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