Lansing Mi Retail Center w/ extra lot

Retail-Commercial for Sale
Catylist Listing ID: 30216296
Property Subtypes: Free-Standing Building, Movie Theatre, Retail-Pad, Street Retail
Building Size (RSF): 5,964 SF
Gross Land Area: 1.38 Acres
Sale Price: $750,000
Unit Price: $125.75 PSF
Property Use Type: Investment
Sale Terms: Cash to Seller, Purchase Money Mortgage
Cap Rate: Undisclosed
Last Updated: 2/8/2019

Overview / Comments

Newer construction retail center in a high profile location serving the Downtown Lansing area. 100% occupied, 8.78 Cap rate. Great visibility and access, high traffic counts. This property also includes extra land (728 Cedar- Former Car wash site) to expand on with additional retail space, including a Drive-thru.

Note, This property can also be purchase at a discount in conjunction with 709 Larch St. which is 1.13 acres of commercial land (listed at $495k) - connected to this property.

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Additional Details

Nearest MSA: Lansing-East Lansing
County: Ingham
Taxing Authority: City of Lansing
Tax ID/APN: 33-01-01-09-480-002 & 062
Retail Clientele: General, Business
Property Located Between: Saginaw and Cedar St
Property Visibility: Excellent
Largest Nearby Street: Saginaw
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 5,964 SF
Property Condition: Excellent
Year Built: 2005
Roof Type: Flat
Construction/Siding: Block
Parking Type: Surface
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Package Unit
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 17,238 101,613 198,691
Median Age: 29.53 32.24 32.73
Households: 7,579 41,522 79,049


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