Mixed-Use Building in Old
1031 N Washington Ave, Lansing, MI 48906
2,727 SF mixed-use property in Old Town Lansing.
Type:Mixed Use, Multifamily, Office
Property size:
2,727 SFPrice / SF:
$108/SF- Added:
- Feb 19, 2026
- Days on Market:
- 137
- Last Refresh:
- Mar 17 at 1:16 pm
Property Features for 1031 N Washington Ave
General Information
- Standard status
- Active
- Size
- 2,727 SF
- Property subtype
- Mixed Use, Multifamily, Office
Building Details
- Year Built
- 1860
Listing office Audrey Schultz - Intelligence
Listing date Feb 19, 2026
Source Crexi
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 Audrey Schultz - Intelligence
HighLights
- Prime mixed‑use property in the heart of Old Town Lansing, offering a 2,727 SF building with ground‑floor office and upper‑level residential unit.
- Flexible DT‑1 zoning allows for a wide range of commercial, office, and residential uses.
- Ground‑floor office suite with high ceilings, strong natural light, kitchenette, and flexible layout, available for immediate occupancy or leasing.
- Upper‑level six‑bedroom residential unit with potential for continued room‑by‑room rental income (historical rate of $375/room).
- Separate utilities, rear access, and on‑site parking enhance leasing and usage flexibility.
- Prominent frontage on N. Washington Avenue provides high visibility in a walkable district.
Overview
This 2,727 SF mixed-use property is located in the heart of Old Town Lansing. The building is configured with a ground-floor office suite and an upper-level residential unit, each with separate entrances. Zoned DT-1 (Downtown 1), the building permits a range of commercial, office, and residential uses, offering flexibility for both investors and owner-occupants. The main level is currently occupied by an engineering firm whose ownership is relocating, creating near-term availability for an owner-user or leasing opportunity at market rates. The office space features high ceilings, strong natural light, a half bath, kitchenette, and a flexible layout suitable for professional services or creative office use. The upper level consists of a six-bedroom residential unit with shared kitchen and full bath. Bedrooms have previously leased individually at approximately $375 per room. One bedroom is currently leased through August. Separate utilities, rear access, and on-site parking enhance leasing flexibility. Potential configurations include a single large office, two office suites, continued room-by-room residential rental, conversion to two residential units (with added shower/range on lower level), live/work use, or single-family conversion. Prominent frontage along N. Washington Avenue provides visibility within one of Lansing’s most active and walkable districts. Suitable for investors, owner-users, or adaptive reuse buyers seeking long-term flexibility in a mixed-use corridor.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $43.9k | $16.08 |
| − Vacancy | −$8.8k | −$3.22 |
| EGI | $35.1k | $12.86 |
| − OpEx | −$8.8k | −$3.22 |
| NOI | $26.3k | $9.65 |
2,727 SF · lease $16.08/SF/yr · vacancy 20.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$375.9K
$328.9K – $438.5K
NOI $26,310 @ 7.0% cap · market cap 8.92%
Second Best
Mixed Use
$347.7K
$304.2K – $405.6K
NOI $24,338 @ 7.0% cap · market cap 8.25%
Theoretical Best
Office A
$561.3K
$491.2K – $654.9K
NOI $39,293 @ 7.0% cap · market cap 13.32%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Office Units
Location Insight
- Map
- Local Demand
- City
- Lansing
- County
- Eaton
- State
- Michigan
- Longitude
- -84.551856
- Latitude
- 42.722922
Nearby Similar for Sale
FAQs
What type of property is this?
Mixed-use property - 2,727 SF mixed-use property in Old Town Lansing.
Where is this mixed-use property located?
The property is located at 1031 N Washington Ave Lansing, MI.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Prime mixed‑use property in the heart of Old Town Lansing, offering a 2,727 SF building with ground‑floor office and upper‑level residential unit.; Flexible DT‑1 zoning allows for a wide range of commercial, office, and residential uses.; **Ground‑floor office suite with high ceilings, strong natural light, kitchenette, and flexible layout, available for immediate occupancy or leasing.**
