Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    119 Pere Marquette Dr Lansing, MI 48912

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Two-story loft office in downtown Lansing with gated parking.

    Property size:
    4,701 SF
    Lot size:
    4,701 SF

    Property Features for 119 Pere Marquette Dr

    General Information

    Size
    4,701 SF

    We can help!

    Listing Contact
    Matthew Wisniewski
    Matthew Wisniewski
    Source: Remaxcommercial

    Listing Agent: Matthew Wisniewski

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Downtown Lansing Loft Office Space

    Located in downtown Lansing, the property at 119 Pere Marquette Drive is situated across from Starbucks and Bobcat Bonnies, and steps away from Michigan Avenue. This two-story loft-style office space features exposed brick walls. The property includes a mix of open workspace and private offices, along with a large conference room. Elevator and stair access ensures the space is barrier-free. Private gated parking is included.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Michigan Promise Zones Department Of State Treasure Public Policy Associates Business To Business Service Union Services Agency Insurance Agency Safe & Just Michigan ... Charitable Organization North Star Wellness ... Crisis Center

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lansing
    County
    Eaton
    State
    Michigan
    Longitude
    -84.543759
    Latitude
    42.734201

    Nearby Similar for Lease

    • $750 /Mo
      13,912 SF

      Renovated Space in Moores Park

      Renovated office/retail space near Moores River Park. Utilities included.
      700 W Barnes Ave, Lansing, MI 48910
      View Details
    • $1,300 /Mo
      900 SF

      Retail Space in Lansing, MI

      Retail space for rent with high visibility and traffic.
      4405 S Martin Luther King Jr Blvd, Lansing, MI 48910
      View Details
    • $3,500 /Mo
      2,444 SF

      High-Visibility Lansing Restaurant Opportunity

      Freestanding restaurant space with drive-thru in high-traffic location.
      3122 S Martin Luther King Junior Blvd, Lansing, MI 48910
      View Details
    • $2,500 /Mo
      2,500 SF

      Lansing Office Space For Rent

      Office space available for lease in Lansing, Michigan.
      3911 W Michigan Ave, Lansing, MI 48917
      View Details
    • $1,600 /Mo
      2,500 SF

      High-Traffic Commercial Space Available

      Retail, office, or restaurant space in high-traffic Lansing location.
      3318 S Cedar St, Lansing, MI 48910
      View Details
    • $2,000 /Mo
      2,580 SF

      Commercial Building on Busy Corner

      Commercial building on a busy corner in Lansing, Michigan.
      1405 E Chavez Ave, Lansing, MI 48906
      View Details
    • $2,340 /Mo
      1,870 SF

      Lansing Office Suite For Lease

      Second-floor office suite with flexible space and ample parking.
      5123 St Joe Hwy W, Lansing, MI 48917
      View Details
    • $3,105 /Mo
      2,484 SF

      Spacious First-Floor Office Suite

      2484 SF office suite with flexible layout and ample parking.
      5123 St Joe Hwy W, Lansing, MI 48917
      View Details
    • $15 SF/Yr
      10,800 SF

      Downtown Lansing Commercial Space Available

      Restaurant-ready space near Capitol Complex in downtown Lansing.
      208 S Washington Sq Unit 1, Lansing, MI 48933
      View Details
    • New
      Contact for pricing

      One Michigan Avenue

      All-inclusive access to workspace, virtual office and meeting rooms in 505 Montgomery
      120 Washington Ave, Lansing, MI 48933
      View Details
    • Contact for pricing

      MI, Lansing - Lake Lansing Rd

      Discover many ways to work your way in Brookfield Square
      2624 Lake Lansing Rd, Lansing, MI 48912
      View Details
    • Sponsored
      Contact for pricing

      MI, Lansing - S Capitol Ave

      Discover many ways to work your way in Downtown
      501 Capitol Ave, Lansing, MI 48933
      View Details

    FAQs

    What type of property is this?
    Office space - Two-story loft office in downtown Lansing with gated parking.
    Where is this office space located?
    The property is located at 119 Pere Marquette Dr Lansing, MI.
    What are key features of this property?
    This property features: - Prime Downtown Lansing location, steps from Michigan Avenue and across from popular businesses.; - Includes private gated parking.; - Two-story loft-style office space.
    (517) 321-2800
    Request Owner's contact information
    119 Pere Marquette Dr Lansing, MI 48912
    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.
    119 Pere Marquette Dr
    Lansing, MI 48912
    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
    119 Pere Marquette Dr Lansing, MI 48912
    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

    We can help!
    Listing Contact
    Matthew Wisniewski
    Matthew Wisniewski
    Real Estate License ID: 6501360426
    (517) 321-2800 (517) 980-9299
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!