133 E Washington Ave, Jackson, MI 49201
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1 TURN-KEY Restaurant & Bar w/ Living Quarters 133 E Washington Ave, Jackson, MI Listing ID: Status: Active Property Type: Retail-Commercial For Lease (also listed as Business Opportunity) Retail-Commercial Type: Free-Standing Building, Mixed Use Contiguous Space: 2,496-7,488 SF Total Available: 7,488 SF Lease Rate: $3,000 (Monthly) Unit Price: $4.81 PSF (Annual) Base Monthly Rent: $3,000 Lease Type: NNN Overview/Comments This property is a 7,488 sq. ft. building that includes; 1) a 2,496 sq. ft. restaurant-bar on the ground floor with a kitchen, 2) a 2,496 sq. ft. basement w/ 3 walk-in coolers, a CO2 system for beer and soft drinks, storage, office space and equipment and 3) a 2,496 sq. ft two bedroom. apartment upstairs. The restaurant and kitchen have been inspected by the city and can be ready for business with a few minor updates. The property has potential that isn't readily apparent because the City of Jackson is about to commence a road project that will change the traffic pattern in the downtown area. Currently cars travel east only on Washington street towards the back of this building. This results in reduced exposure for the entrance of this property. The City plans to turn Washington Street into a 2 way street in June. The result will be increase exposure for the front of the building and increased traffic counts. The property is located with 1 block of the the headquarters building for Consumers Energy. It is across the street from the city parking structure and the Commonwealth Buildings giving it excellent potential for breakfast, lunch and dinner business. The 2,496 sq. ft. apartment is clean, attractively updates and features many recent updates. It could be leased out as an income property or used as living quarters for the staff or owner of the restaurant. Currently a 2 bedroom apartment, it could easily be upgraded to a 3 bedroom apartment with the addition of a window and interior finishes.. The rental rates don't reflect the turn-key business opportunity that includes real estate. The price has also been reduced to reflect some updates that are needed. The sale price doesn't include a liquor license. However, this property can be developed in a Micro Brewery without a liquor license through the Department of Agriculture. More Information Online QR Code Scan this image with your mobile device: General Information Taxing Authority: Jackson, MI Tax ID/APN: Page 1
2 Retail-Commercial Type: Zoning: Building Name: Free-Standing Building, Mixed Use, Restaurant, Tavern/Bar/Nightclub, Other C3 Germania building Gross Building Area: Building/Unit Size (RSF): Usable Size (USF): Land Area: 7,488 SF 4,992 SF 4,992 SF 0.13 Acres Available Space Suite/Unit Number: Suite Floor/Level: Space Available: Minimum Divisible: Maximum Contiguous: Space Subcategory 1: Space Subcategory 2: 133 E. Washington 1 & 2 floor + basment 7,488 SF 2,496 SF 7,488 SF Free-Standing Store Food Processing Space Type: Relet Date Available: 04/18/2017 Lease Term (Months): 36 Months Lease Rate: $3,000 (Monthly) Lease Type: NNN Offices: 1 Kitchen/Breakroom: Yes Space Description This property is a unique TURN-KEY Business opportunity w/ very nice, upstairs apartment - living quarters. It is a 7,488 sq. ft. building that includes; 1) a 2,496 sq. ft. restaurant-bar on the ground floor with a kitchen, 2) a 2,496 sq. ft. basement w/ 3 walk-in coolers, a CO2 system for beer and soft drinks, storage, office space and equipment and 3) a 2,496 sq. ft two bedroom. apartment upstairs. The restaurant and kitchen have been inspected by the city and can be ready for business with a few minor updates. The property has potential that isn't readily apparent because the City of Jackson is about to commence a road project that will change the traffic pattern in the downtown area. Currently cars travel east only on Washington street towards the back of this building. This results in reduced exposure for the entrance of this property. The City plans to turn Washington Street into a 2 way street in June. The result will be increase exposure for the front of the building and increased traffic counts. The property is located with 1 block of the the headquarters building for Consumers Energy. It is across the street from the city parking structure and the Commonwealth Buildings giving it excellent potential for breakfast, lunch and dinner business. The 2,496 sq. ft. apartment is clean, attractively updates and features many recent updates. It could be leased out as an income property or used as living quarters for the staff or owner of the restaurant. Currently a 2 bedroom apartment, it could easily be upgraded to a 3 bedroom apartment with the addition of a window and interior finishes. The bar & restaurant is available to rent without the apartment for $2,500 per month NNN. The apartment is available to rent without the restaurant-bar for $ per month gross Rent Concession Any changes to the property desired by the tenant would be at tenant expense unless built into the cost of the rent. However, if a tenant desires a change in the buildings exterior facade, the owner indicates that for approved upgrades to the exterior facade up to a 50% rebate of the project may be reimbursed up to a maximum of $15, Area & Location Retail Clientele: Property Located Between: Property Visibility: Business On the S.E. corner of E. Washington and Francis Street. Excellent Largest Nearby Street: Francis Street Feet of Frontage: 32 Traffic/Vehicle Count: 14,713 Highway Access Access is via or East Washington Street or Francis Street. Parking is in the rear, on the street and available in the Francis Street Parking Structure located across the street. Site Description In addition the owner is offering an adjacent 5,304 sq. ft. commercial building for sale with 2,652 sq. ft. of retail store front space and 2,652 sq. ft of office space. The properties are priced to offer similar CAP rate investment potential. Area Description The lease rates are for the property as is. Any changes to the property will be at tenant expense unless negotiated into a repayment plan as an addition to the monthly rent. The owner has stated that if the tenant secures landlord approval on a project to improve the exterior façade property that up to 50% of the cost of preapproved project may be eligible for reimbursement in the form of a rebate up to a maximum of $15, Building Related Tenancy: Multiple Tenants Total Number of Buildings: 1 Number of Stories: 2 Typical SF / Floor: 2,496 SF Property Condition: Good Year Built: 1890 Year Renovated: 2016 Roof Type: Flat Construction/Siding: Brick/Aluminum Siding Exterior Description: Vinyl and aluminum siding Total Parking Spaces: 14 Parking Type: Surface Parking Description: Gravel lot Loading Doors: 0 Loading Docks: 0 Passenger Elevators: 0 Freight Elevators: 0 Sprinklers: None Heat Type: Natural Gas Heat Source: Central Air Conditioning: Package Unit Page 2
3 FRANCIS ST. - MARKET COMPARISON As of , a list was compiled of available Office & Retail space from 1,300 5,000 sq. ft. in Jackson Francis (Retail or Office) and 133 E. Washington (Restaurant Bar or office Office) are the lowest price Retail and Office space per sq. ft. in Jackson.
4 Land Related Zoning Description: Lot Frontage: C3 32' in front, 66 feet wide in rear. Parcel is L shaped and wraps behind adjacent building. Lot Depth: Water Service: Sewer Type: 127 ft. deep. Municipal Municipal Location Address: 133 E Washington Ave, Jackson, MI County: Jackson MSA: Jackson Property Images DSC01869 DSC01807 Page 3
5 DSC01808 DSC01839 DSC01814 DSC01836 DSC01880 DSC01842 Page 4
6 DSC01845 Property Contacts Joe Arnold Global Realty Group, LLC [M] [O] Page 5 Copyright Commercial Property Information Exchange (CPIX). All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither Commercial Property Information Exchange (CPIX) nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.
7 Joe Arnold Global Realty Group, LLC Professional Profile Agent/Broker Working in Commercial Real Estate Since 1992 Joe Arnold, CCIM candidate and member of the Commercial Board of Realtors (CBOR), has joined the Global Realty Group team as a licensed real estate agent with a focus as a Business Sales Broker and the leasing and sale of industrial, hi-tech, and office facilities in Southeastern Michigan. Joe holds an MBA degree from Michigan State University with a concentration in Marketing, Finance and Accounting and also has a BS degree in law from Eastern Michigan University. Throughout his career, Joe has been responsible for the acquisition, disposition and leasing of office, hi-tech and industrial properties. Joe has over 20 years of experience in Property Management as a landlord and building owner and has managed numerous commercial build-out and renovation projects. He has provided consulting services, landlord and tenant representation services, and buyer seller representation as well as having experience in commercial and industrial sales. Joe is also a Licensed Builder with experience building residential homes and commercial build out / renovation projects for hitech data centers, hospital labs and industrial process control projects. In addition to Joe s real estate related experience, Joe brings over 35 years of electrical and mechanical engineering, construction and marketing experience to the table as the President of Computer Environments in Livonia, MI. He has specialized in TURN-KEY, design-build infrastructure solutions for mission critical applications with projects ranging from Computer Rooms to Hospital Laboratories to Industrial Process Control applications. Joe has implemented design criteria to insure the highest levels of uptime for Hi-Tech Commercial Real Estate applications involving microprocessor controlled devices. He has also received a patent as the inventor of a hybrid electrical panel board that mitigates electrical power disturbances and has been a featured guest speaker at numerous trade shows and seminars throughout the United States and internationally. Joe has over 20 years of involvement with the Boy Scouts of America as a member and adult leader and is a member of the Knights of Columbus. He is an avid whitewater kayaker, archer and bow hunter, has a lifelong passion for music. His hobby is photography. Joe raised 5 children in Northville, Michigan and currently resides in Ann Arbor. Expertise Specializations: Brokerage: Business Sales Commercial Investment Build-To-Suit Leasing Property Types: Industrial Office Retail Global Realty Group, LLC P.O. Box Schoolcraft Road Livonia, MI., (800) Office joe@globalrealtygroupllc.com Page 1
8 Education - Credentials B.S. Eastern Michigan University 1974 Law, Marketing, Finance & Accounting Licenses: Builders License: Masters - MBA Michigan State University, 1976 Marketing, Finance & Accounting Associations Member Commercial Board of Realtors Michigan Association of Realtors National Association of Realtors Candidate Certified Commercial Investment Member (CCIM) Services Offered CoStar MLS CPIX MLS Loopnet MLS Realcomp MLS RPR (Realtors Property Resource MLS Property Development Tenant Buildout Property Management Achievements U.S. Patent & Trademark Office Guest Speaker Developed advancement in power quality protection equipment. Awarded US Patent 7,633,772 B2. Numerous appearances internationally as a guest speaker on power quality and protecting mission critical facility equipment for numerous associations, conferences and companies including; Society of Hospital Engineers, Wisconsin Public Power, Great Lakes Broadcasting Association, Bio-Med Tech Association Data Processing Manager s Association, Plant Engineering Conference, Power Quality Expo Conference, Information Technology Expo Conference & many Consulting Eng. firms. Page 2
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