Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    229 W Cesar E Chavez Avenue Lansing, MI 48906

    View on Map
    Claim this Listing
    For Sale
    $99,999

    COMMERCIAL - Lansing, MI

    Type:Retail
    Property size:
    1,288 SF
    Lot size:
    0.19 Acres
    Price / SF:
    $77/SF
    Added:
    Jan 26, 2026
    Days on Market:
    92
    Last Refresh:
    Apr 28 at 10:06 am

    Property Features for 229 W Cesar E Chavez Avenue

    General Information

    Property type
    Commercial Sale
    Property subtype
    Retail
    Bathrooms
    2
    Rooms
    Bathroom 1, Bathroom 2
    Interior features
    Broadband
    Standard status
    Active
    APN
    33010109330001
    Size
    1,288 SF
    Lot size
    0.19 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    W 123.75 FT LOT 12 BLOCK 35 ORIG PLAT
    Tax Annual Amount
    3175

    Utilities

    Utilities
    Cable Available
    Heating system
    Forced Air

    Building Details

    Year built
    1957
    Floors in Building
    1
    Building materials
    Wood Siding

    We can help!

    Listing Contact
    Frank Jajou

    Listing agent Frank Jajou License #440153

    Listing office BHHS Kee Realty 210 W University Ste. 4, Birmingham, MI

    Listing date Jan 26, 2026

    MLS# 26003047

    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.

    Overview

    Lansing Commercial Property Near Old Town

    This commercial property, located near Old Town Lansing, offers a prime corner location. The building features two bathrooms, an office area with storage, and a large, open warehouse area. A new water heater was installed in 2014. The property is currently rented out and is being sold in as-is condition. The lot size is 0.19 acres, and the property size is 1288 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Map

    City
    Lansing
    County
    Eaton
    State
    Michigan
    Longitude
    -84.554916
    Latitude
    42.747174

    Nearby Similar for Sale

    • $490,000
      12,440 SF

      Move-in Ready Lansing Church Facility

      12,440 sq ft church with sanctuary, classrooms, and parking.
      1819 W Willow Street, Lansing, MI 48915
      View Details
    • $199,900
      2,070 SF

      Downtown Lansing Commercial Building

      Well-maintained commercial building in revitalizing downtown Lansing.
      500 Erie Street, Lansing, MI 48912
      View Details
    • $130,000
      1,439 SF

      Versatile Commercial Building in Lansing

      Commercial building suitable for office or professional use with parking.
      4108 S Cedar Street, Lansing, MI 48910
      View Details
    • $339,900
      4,631 SF

      Remodeled Firehouse with Living Units

      Historic firehouse converted to office and residential units.
      230 Bingham Street, Lansing, MI 48912
      View Details
    • $279,000
      2,500 SF

      Lansing Commercial Income Property

      Two-unit commercial property with high traffic location in Lansing, MI.
      3318-3320 S Cedar St, Lansing, MI 48910
      View Details
    • $652,000
      14,388 SF

      Historic Building in REO Town

      Unique commercial building with redevelopment potential in Lansing, Michigan.
      1023 S Washington Avenue, Lansing, MI 48910
      View Details
    • $239,900
      2,148 SF

      Remodeled Office Space in Lansing

      Fully remodeled office with original wood trim, move-in ready.
      2325 S Cedar Street, Lansing, MI 48910
      View Details
    • $1,950,000
      10,200 SF

      Corporate Headquarters Near Airport

      Two-story office headquarters with hangar, near Capital Region Airport.
      3900 Capital City Boulevard, Lansing, MI 48906
      View Details
    • $149,000

      Lansing Multi-Unit Investment Opportunity

      Multi-unit property with updated unit, income potential, and recent updates.
      1006 S Pennsylvania Avenue, Lansing, MI 48912
      View Details
    • $285,000
      2,727 SF

      Mixed-Use Building in Old Town

      Historic Lansing mixed-use property with office and residential units.
      1031 N Washington Avenue, Lansing, MI 48906
      View Details
    • $299,000
      1,380 SF

      Lansing Retail Banking Facility

      Freestanding 1,380 SF building on 0.87 acres for sale.
      5101 N Grand River Avenue, Lansing, MI 48906
      View Details
    • $220,000

      Lansing Duplex with Rental Income

      Well-maintained duplex in Lansing, MI with strong rental income.
      4400 Chadburne Drive, Lansing, MI 48911
      View Details

    FAQs

    What type of property is this?
    Retail space - Income property with high exposure near Old Town Lansing.
    Where is this retail space located?
    The property is located at 229 W Cesar E Chavez Avenue Lansing, MI.
    What is the asking price?
    The asking price for this property is $99,999.
    What are key features of this property?
    This property features: Prime corner location for high exposure near Old Town.; Great income property currently rented out.; Large open warehouse area.
    (248) 709-6696
    We can help!
    Listing Contact
    Frank Jajou
    Real Estate License ID: 440153
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!