High-Traffic Commercial Property for
5101 South Pennsylvania Avenue Lansing, MI 48911
5101 South Pennsylvania Avenue, Lansing, MI, 48911
$500,000
For Sale
$500,000
Commercial property with dual revenue streams at a high-traffic intersection.
Property Size3,071 SF
Price / SF$162.81
Days on Market300
Property Features for 5101 South Pennsylvania Avenue
General Information
- Standard status
- Active
- Size
- 3,071 SF
- Property subtype
- Business Opportunities (Other)
Building Details
- Year Built
- 1956
Listing agency
RE/MAX
(517) 896-9669
Listed by
Jodi Jones · License #188231
(517) 896-9669
Source
Remaxcommercial
Added: Sep 25, 2025 Updated: Jul 6 at 8:11AM Checked: Jul 21 at 3:03AM
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 RE/MAX
Investment Insights
Based on property information with market context.
Located at the intersection of Jolly and Pennsylvania, this commercial property offers a business opportunity with dual revenue streams. The site currently houses Mikho's Smoke Shop and a tire shop, both included in the sale. The property benefits from high visibility, steady traffic flow, and an established clientele. The property size is 3071 square feet.
Key Highlights
- High‑traffic intersection location at Jolly and Pennsylvania
- Dual revenue streams from established Mikho's Smoke Shop and tire shop
- Turn‑key investment opportunity
Local Financial Insights For Retail
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 | $46.1k | $15.00 |
| − Vacancy | −$6.4k | −$2.07 |
| EGI | $39.7k | $12.93 |
| − OpEx | −$11.9k | −$3.88 |
| NOI | $27.8k | $9.05 |
3,071 SF · lease $15.00/SF/yr · vacancy 13.80% · expense 30.00%
Alternative Uses
Best Use
Retail
$397.1K
$347.5K – $463.3K
NOI $27,796 @ 7.0% cap · market cap 5.56%
Second Best
Industrial
$285.1K
$249.4K – $332.6K
NOI $19,954 @ 7.0% cap · market cap 3.99%
Theoretical Best
Office A
$632.1K
$553.1K – $737.5K
NOI $44,250 @ 7.0% cap · market cap 8.85%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Mikho's Used Tires
Auto Parts Store
Mikho's Smoke Shop
(Bike/Boat/Book/etc) Store
Similar For Sale Nearby
Similar Off Market Nearby
- A & M Supreme Auto Repair - Lansing MI — 5700 S Pennsylvania Ave, Lansing, MI 48911
- Valvoline Instant Oil Change — 5725 S Cedar St, Lansing, MI 48911
- Big Ray's Express Lube — 5730 S Cedar St, Lansing, MI 48911
- Capitol Cadillac Collision Center — 5901 S Pennsylvania Ave, Lansing, MI 48911
- Motorcars Collision Center — 6000 S Pennsylvania Ave, Lansing, MI 48911
FAQs
What type of property is this?
Auto shop - Commercial property with dual revenue streams at a high-traffic intersection.
Where is this auto shop located?
The property is located at 5101 South Pennsylvania Avenue Lansing, MI.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: High‑traffic intersection location at Jolly and Pennsylvania; Dual revenue streams from established Mikho's Smoke Shop and tire shop; Turn‑key investment opportunity
