Flex Space with Outdoor
For Sale
$95,000
1100 Lake Lansing Road, Lansing, MI 48906
Configured service-business workspace with equipment, a storage shed, adjacent land, and on-site parking.
Property Size880 SF
Price / SF$107.95
Days on Market26
Property Features for 1100 Lake Lansing Road
General Information
Standard status
Active
Size
880 SF
Property Condition
Severity
Repairs Needed
Evidence
in need of some updating
Additional Details
Outdoor Storage
Yes
Taxes and HOA fees
Annual Taxes
$846
Building Details
Building Size
880 SF
Listing Agency:
EXIT Realty Home Partners
(517) 281-2690
Listed By:
Gary Naeyaert · License #6502431061
(517) 281-2690
Source:
Exprealty
Added: Aug 5
Changed: Aug 29
Last Checked: Aug 29 at 2:26PM
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 EXIT Realty Home Partners
Investment Insights
Based on property information with market context.
This 880-square-foot flex property is arranged for plumbing and heating operations and includes existing fixtures and equipment. The improvements need updating, allowing the next owner to rework the space around its operational requirements. An adjacent lot expands the property’s functional footprint, with room for equipment, vehicles, materials, or outdoor storage. The site also includes a storage shed and a small parking area.
Located at 1100 Lake Lansing Road in Lansing, Michigan, the property combines an enclosed work area with supplemental outdoor space. Its existing configuration and accessory improvements support a range of service-business applications, subject to verification of permitted uses and other property information.
Located at 1100 Lake Lansing Road in Lansing, Michigan, the property combines an enclosed work area with supplemental outdoor space. Its existing configuration and accessory improvements support a range of service-business applications, subject to verification of permitted uses and other property information.
Key Highlights
- 880‑square‑foot flex property configured for plumbing and heating operations
- Existing fixtures and equipment included
- Adjacent lot provides additional space for equipment, vehicles, materials, or outdoor storage
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$6,795
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.15%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$135,900
$135.9K
Cap Rate 7%
$97,071
$97.1K
Cap Rate 9%
$75,500
$75.5K
Market Conditions
NOI Build-Up for 880 SF
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.
Gross rent
$11.6K $13.20/SF
− Vacancy
−$1.2K −$1.32/SF
EGI
$10.5K $11.88/SF
− OpEx
−$3.7K −$4.16/SF
NOI
$6.8K $7.72/SF
Area
Lansing, MI
Vacancy
10.00%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$135,900
Cap Rate 7%
$97,071
Cap Rate 9%
$75,500
Alternative Uses
Best Use
Flex RnD
$97.1K
$84.9K – $113.3K
NOI $6,795 @ 7.0% cap · market cap 7.15%
Second Best
Industrial
$81.7K
$71.5K – $95.3K
NOI $5,718 @ 7.0% cap · market cap 6.02%
Theoretical Best
Office A
$181.1K
$158.5K – $211.3K
NOI $12,680 @ 7.0% cap · market cap 13.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
598
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
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Lansing catering LLC — 3212 N East St, Lansing, MI 48906
Frequently Asked Questions
What type of property is this?
Flex space - Configured service-business workspace with equipment, a storage shed, adjacent land, and on-site parking.
Where is this flex space located?
The property is located at 1100 Lake Lansing Road Lansing, MI.
What is the asking price?
The asking price for this property is $95,000.
What are key features of this property?
This property features: 880‑square‑foot flex property configured for plumbing and heating operations; Existing fixtures and equipment included; Adjacent lot provides additional space for equipment, vehicles, materials, or outdoor storage
