Freestanding Storefront with
For Sale
$950,000
223 N Clippert Street, Lansing, MI 48912
Commercial Sale, Lansing, MI
Property Size4,054 SF
Lot Size1.11 Acres
Price / SF$234.34
Days on Market128
Property Features for 223 N Clippert Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
MX-2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Interior features
Broadband
Elementary school district
Lansing
Middle school district
Lansing
High school district
Lansing
Standard status
Active
APN
33-01-01-14-256-022
Size
4,054 SF
Lot size
1.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOTS 47 THRU 51 AND 79 THRU 81 INCL, ALSO VACATED ALLEY COM NW COR LOT 47, TH S 180 FT, W 18.9 FT, N 144 FT, E 9.45 FT,
Tax Annual Amount
22739
Legal Description
LOTS 47 THRU 51 AND 79 THRU 81 INCL, ALSO VACATED ALLEY COM NW COR LOT 47, TH S 180 FT, W 18.9 FT, N 144 FT, E 9.45 FT,
Utilities
Utilities
Phone Available
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1969
Floors in Building
1
Number of units
1
Building materials
Brick
Listing Agency:
NAI Wisinski of West Michigan
(269) 353-0311
Listed By:
Jodi K Milks · License #6506044331
(269) 459-0439
Added: Jun 2
Changed: Sep 16
Last Checked: Oct 7 at 12:06AM
MLS# 26026446
Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This freestanding brick storefront property includes a 4,054-square-foot retail building and an additional 2,000-square-foot drive-thru on 1.11 acres. The former bank branch has existing drive-thru infrastructure, two bathrooms, forced-air heating, central air, broadband, and phone availability. Constructed in 1969, the property is suited for professional office, medical, or service-oriented users, as identified in the listing information.
The site is located on N Clippert Street near Michigan Avenue in Lansing’s commercial corridor, with surrounding retail, dining, and service businesses. Signage exposure to US-127 provides access throughout the Lansing market. The property is zoned MX-2 Mixed-Use Community Center and is available September 2026.
The site is located on N Clippert Street near Michigan Avenue in Lansing’s commercial corridor, with surrounding retail, dining, and service businesses. Signage exposure to US-127 provides access throughout the Lansing market. The property is zoned MX-2 Mixed-Use Community Center and is available September 2026.
Key Highlights
- 4,054 SF freestanding retail building with an additional 2,000 SF drive‑thru
- 1.11‑acre site on N Clippert Street near Michigan Avenue
- Existing drive‑thru infrastructure from former bank branch use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,345
Cap Rate
4.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$866,900
$866.9K
Cap Rate 7%
$619,214
$619.2K
Cap Rate 9%
$481,611
$481.6K
Market Conditions
NOI Build-Up for 4,054 SF
Gross rent
$65.7K $16.20/SF
− Vacancy
−$7.9K −$1.94/SF
EGI
$57.8K $14.26/SF
− OpEx
−$14.4K −$3.56/SF
NOI
$43.3K $10.69/SF
Area
Lansing, MI
Vacancy
12.00%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$866,900
Cap Rate 7%
$619,214
Cap Rate 9%
$481,611
Alternative Uses
Best Use
Specialty Retail
$619.2K
$541.8K – $722.4K
NOI $43,345 @ 7.0% cap · market cap 4.56%
Second Best
Office B
$558.8K
$488.9K – $651.9K
NOI $39,113 @ 7.0% cap · market cap 4.12%
Theoretical Best
Office A
$834.5K
$730.2K – $973.6K
NOI $58,414 @ 7.0% cap · market cap 6.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,151
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48912, MI
17,155
Population
9,064
Households
1.9
Avg Household Size
34
Median Age
40%
College-Educated
91%
High-School Grad
5.2 sq mi
ZIP Area
3,299
Density / Sq Mi
$53,072
Median Household Income
$34,598
Median Earnings
$1,037
Median Rent
$139,900
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Storefront property - Brick commercial building with existing drive-through infrastructure and MX-2 Mixed-Use Community Center zoning.
Where is this storefront property located?
The property is located at 223 N Clippert Street Lansing, MI.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 4,054 SF freestanding retail building with an additional 2,000 SF drive‑thru; 1.11‑acre site on N Clippert Street near Michigan Avenue; Existing drive‑thru infrastructure from former bank branch use
