Freestanding Flex Space with Fenced
For Sale
$5,352,963
1001 Terminal Rd & 914 Terminal Rd, Lansing, MI 48906
The freestanding building combines office and industrial areas with a fenced lot and an NN lease structure.
Property Size40,641 SF
Lot Size1.72 Acres
Price / SF$174.39
Days on Market47
Property Features for 1001 Terminal Rd & 914 Terminal Rd
General Information
Standard status
Active
Size
40,641 SF
Total Parking Spaces
120
Lot size
1.72 Acres
Property subtype
Industrial
Warehouse & Industrial
Office Build-Out
25,696 SF
Drive-In Doors
2
Additional Details
Fenced Yard
Yes
Building Details
Building Size
40,641 SF
Buildings
1
Tenancy
Single
Listing Agency:
Legacy Real Estate Advisors
Listed By:
Rami Gulli · License #MI ##6501453450
(248) 892-9691
Source:
Legacycrea
Added: Aug 21
Changed: Oct 2
Last Checked: Oct 5 at 4:45PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Legacy Real Estate Advisors
Investment Insights
Based on property information with market context.
Built in 1960, this freestanding flex property contains 30,696 total square feet, including 25,696 square feet of office area and 5,000 square feet designated for industrial use. The single-tenant asset is subject to an NN lease structure with minimal landlord responsibilities. Site improvements include two drive-in doors measuring 12 feet wide by 13 feet high, a fenced lot, and 120 surface parking spaces on 1.72 acres.
The property is located at 1001 Terminal Road in Lansing, within the Grand Rapids MI MSA as described in the listing information. It sits in a dense retail corridor near Walmart, Ace Hardware, McDonald's, and Taco Bell. The surrounding area includes more than 5,100 residents within one mile, over 51,400 residents within three miles, and more than 72,000 daytime employees within three miles. Five-year projected population growth within one mile is 1.08%.
The property is located at 1001 Terminal Road in Lansing, within the Grand Rapids MI MSA as described in the listing information. It sits in a dense retail corridor near Walmart, Ace Hardware, McDonald's, and Taco Bell. The surrounding area includes more than 5,100 residents within one mile, over 51,400 residents within three miles, and more than 72,000 daytime employees within three miles. Five-year projected population growth within one mile is 1.08%.
Key Highlights
- 30,696 total SF building with 25,696 SF of office area and 5,000 SF of industrial space
- Single‑tenant NN lease structure with minimal landlord responsibilities
- Two drive‑in doors, each measuring 12' W x 13' H
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$296,155
Cap Rate
5.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,923,100
$5.9M
Cap Rate 7%
$4,230,786
$4.2M
Cap Rate 9%
$3,290,611
$3.3M
Market Conditions
NOI Build-Up for 30,696 SF
Gross rent
$493.6K $16.08/SF
− Vacancy
−$98.7K −$3.22/SF
EGI
$394.9K $12.86/SF
− OpEx
−$98.7K −$3.22/SF
NOI
$296.2K $9.65/SF
Area
Lansing, MI
Vacancy
20.00%
Lease Rate
$16.08 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,923,100
Cap Rate 7%
$4,230,786
Cap Rate 9%
$3,290,611
Alternative Uses
Best Use
Office B
$4.23M
$3.70M – $4.94M
NOI $296,155 @ 7.0% cap · market cap 5.53%
Second Best
Flex RnD
$3.39M
$2.96M – $3.95M
NOI $237,035 @ 7.0% cap · market cap 4.43%
Theoretical Best
Office A
$6.32M
$5.53M – $7.37M
NOI $442,296 @ 7.0% cap · market cap 8.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Drive-in doors
Single-tenant
Tenancy
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
191
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48906, MI
25,674
Population
12,180
Households
2.1
Avg Household Size
37
Median Age
29%
College-Educated
91%
High-School Grad
32.5 sq mi
ZIP Area
790
Density / Sq Mi
$61,533
Median Household Income
$38,551
Median Earnings
$1,033
Median Rent
$128,600
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?
Flex space - The freestanding building combines office and industrial areas with a fenced lot and an NN lease structure.
Where is this flex space located?
The property is located at 1001 Terminal Rd & 914 Terminal Rd Lansing, MI.
What is the asking price?
The asking price for this property is $5,352,963.
What are key features of this property?
This property features: 30,696 total SF building with 25,696 SF of office area and 5,000 SF of industrial space; Single‑tenant NN lease structure with minimal landlord responsibilities; Two drive‑in doors, each measuring 12' W x 13' H
