Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    3425 Saginaw St Lansing, MI 48917

    • Land
    • 4.96 lot acres
    For Sale
    View listing
    $1,500,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • FedEx OnSite / Mailing Service
    • COVID-19 Drive-Thru Testing at Walgreens / Pharmacy
    • Walgreens / Convenience Store / Drug Store
    • Walgreens Pharmacy / Pharmacy
    • Walgreens Photo / Photo Lab / Photo Shop

    Property Details for 3425 Saginaw St

    Lot size
    4.96 lot acres
    Property type
    Land

    Description

    This exceptional 4.96-acre commercial lot presents a remarkable investment opportunity within the burgeoning WestPark development in Lansing, Michigan. Located at 3425 W Saginaw Street, this property is part of a meticulously planned 120-acre mixed-use community, poised for significant growth. The lot is strategically situated just minutes from downtown Lansing, the State Capitol, and Michigan State University, ensuring high visibility and accessibility. Approved uses include climate-controlled storage and a wide array of commercial applications, notably including drive-thru facilities. All commercial lots within WestPark are zoned and approved for drive-thrus, providing significant flexibility for potential development. The site benefits from readily available new infrastructure and all necessary utilities. While approvals are currently in place, final site plan approval is required. WestPark's master plan envisions a vibrant community encompassing up to 600 single and multi-family residences and eight commercial outlots, creating a thriving environment for businesses. This is a rare chance to secure a prime commercial parcel in a rapidly developing, high-demand area. The asking price for this exceptional opportunity is $1,500,000. The property is located in Ingham County, Michigan, with a zip code of 48917.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Lansing
    County
    Ingham
    State
    Michigan
    Longitude
    -84.6026
    Latitude
    42.741

    Comparable in this City

    • Value Estimation by Request
      1.50 Acres

      Municipal Way

      Office Properties & Spaces • 1.50 Acres
      0 Municipal Way, Lansing, MI 48917
      View Details
    • Value Estimation by Request
      1.48 Acres

      Marketplace Blvd

      Land • 1.48 Acres
      0 Marketplace Blvd, Lansing, MI 48917
      View Details
    • Value Estimation by Request
      4.95 Acres

      8128 Redwood Blvd

      Land • 4.95 Acres
      8128 Redwood Blvd, Lansing, MI 48917
      View Details
    • Value Estimation by Request
      0.93 Acres

      Cherbourg Dr & Michigan Ave

      Land • 0.93 Acres
      0 Cherbourg Dr & Michigan Ave, Lansing, MI 48917
      View Details
    • Value Estimation by Request
      4.98 Acres

      Ena Dr

      Distribution properties • 30,000 SF
      0 Ena Dr, Lansing, MI 48917
      View Details
    • Value Estimation by Request
      71.86 Acres

      St. Joseph Hwy

      Land • 71.86 Acres
      0 St. Joseph Hwy, Lansing, MI 48917
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1.50 Acres

      MERS Park Office Land

      Prime Lansing office land, 1.5-11.63 acres.
      0 Municipal Way, Lansing, MI 48917
      View Details
    • $1,500,000
      4.96 Acres

      Lansing Commercial Land - WestPark

      4.96-acre lot, prime commercial location.
      3425 Saginaw St, Lansing, MI 48917
      View Details
    • Contact for pricing
      0.93 Acres

      Lansing Office Land: Prime Location

      I-496 Access, Build Your Office
      0 Cherbourg Dr & Michigan Ave, Lansing, MI 48917
      View Details
    • Contact for pricing
      1.48 Acres

      Lansing Commercial Land Development

      Prime location, flexible zoning, multiple uses.
      0 Marketplace Blvd, Lansing, MI 48917
      View Details
    • $499,000
      4.95 Acres

      Lansing Commercial Land: 4.95 Acres

      Prime 4.95-acre commercial lot, shovel-ready.
      8128 Redwood Blvd, Lansing, MI 48917
      View Details
    • $7,186,000
      71.86 Acres

      Lansing Residential Land - 71.86 Acres

      Prime Lansing development land, 71.86 acres.
      0 St. Joseph Hwy, Lansing, MI 48917
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      30,000 SF

      Lansing Industrial Warehouse - 30,000 SF

      Prime Lansing warehouse, 4.98 acres. Ideal for build-to-suit.
      0 Ena Dr, Lansing, MI 48917
      View Details
    • $19 SF/Yr
      48,704 SF

      Verndale Office Park: Premier Office Space

      Prestigious Eaton County office park; ample parking.
      6105 St Joseph Hwy, Lansing, MI 48917
      View Details
    • $8 SF/Yr
      33,000 SF

      Industrial Warehouse and Office Space

      Newly built industrial warehouse and office space for lease.
      4800 S Canal Rd, Lansing, MI 48917
      View Details
    • Contact for pricing
      448,350 SF

      Delta Township Industrial/Logistics Opportunity

      Class A industrial build-to-suit opportunity in Delta Township, Michigan.
      3333 S Canal Rd, Lansing, MI 48917
      View Details
    • $14 SF/Yr
      1,538 SF

      Class A Office Building ForRent

      Newly built Class A office building near I-96/Saginaw Highway interchange.
      8158 Executive Ct, Lansing, MI 48917
      View Details
    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.
    3425 Saginaw St
    Lansing, MI 48917
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.