Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    5058 S Waverly Rd Lansing, MI 48911

    Loading data...
    Loading data...
    Loading data...
    For Lease
    $8 SF/Yr ($3,110 /Mo)

    4,665 SF retail, office, or medical space for lease.

    Property size:
    4,665 SF
    Lot size:
    1.32 Acres

    Property Features for 5058 S Waverly Rd

    General Information

    Size
    4,665 SF
    Lot size
    1.32 Acres

    We can help!

    Listing Contact
    Trent Szkutnik
    Source: Moodyscre

    Listing Agent: Trent Szkutnik

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

    Learn more

    Overview

    Retail Space in Lansing Center

    This 4,665 square foot suite is suitable for retail, office, or medical office use and is available for lease at $8.00 NNN. The property is located in a Family Dollar-anchored shopping center, which has had a national retail tenant on site since 2000. The location benefits from ample private off-street parking. Situated on the hard corner of S Waverly Rd and Jolly Rd, the property offers excellent frontage on the corridor. It experiences strong traffic counts, with over 16,000 vehicles per day on S Waverly Rd and over 10,000 vehicles per day on Jolly Rd. The surrounding area includes many residential neighborhoods and exhibits strong demographics, with a total population exceeding 134,000 within a 5-mile radius. Terms for landlord and tenant improvements are negotiable, and build-to-suit options are available.
    Location Intelligence

    Current Use by Public Records

    Family Dollar Dollar Store

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Lansing
    County
    Eaton
    State
    Michigan
    Longitude
    -84.6038958
    Latitude
    42.6834695

    Nearby Similar for Lease

    • $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
    • $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
    • $3,684 /Mo
      3,684 SF

      Lansing Retail Store Corner Unit

      Retail space in Lansing with high visibility and flexible options.
      6046 S Cedar St, Lansing, MI 48911
      View Details
    • $8 SF/Yr
      40,000 SF

      Modern Warehouse I-96 Frontage

      New 40,000 SF warehouse with I-96 frontage in Lansing.
      Ena Dr, Lansing, MI 48917
      View Details
    • $10 SF/Yr
      9,310 SF

      Premier Office Space in Lansing

      9,310 SF office space in Eastwood Towne Center.
      2505 Showtime Dr, Lansing, MI 48912
      View Details
    • $9 SF/Yr
      14,335 SF

      Versatile Industrial Space in Lansing

      Adaptable retail, industrial, and warehouse space with heavy-duty features.
      1340 S Waverly Rd, Lansing, MI 48917
      View Details
    • Contact for pricing
      16,339 SF

      Lansing Office Space For Lease

      Office and medical space available for lease starting 09/01/2025.
      4911 West St Joe Hwy, Lansing, MI 48917
      View Details
    • $22 SF/Yr
      5,315 SF

      Retail/Restaurant Space Near Frandor

      Prominent retail/restaurant space in central Lansing retail hub.
      301-325 N Clippert St, Lansing, MI 48912
      View Details
    • $25 SF/Yr
      200 SF

      Turnkey Kitchen Space on Riverfront

      200 SF kitchen space with high foot traffic.
      325 Riverfront Dr, Lansing, MI
      View Details
    • $30 SF/Yr
      4,027 SF

      Restaurant Space in Historic Union Depot

      Former restaurant space available for lease in downtown Lansing.
      637 E Michigan Ave, Lansing, MI 48912
      View Details
    • Contact for pricing
      250,000 SF

      Felton/Grove Rds: Industrial Build-to-Suit

      Versatile Industrial Space, 15,000-250,000 SF
      0 Felton And Grv Rds, Lansing, MI 48906
      View Details

    FAQs

    What type of property is this?
    Shopping center - 4,665 SF retail, office, or medical space for lease.
    Where is this shopping center located?
    The property is located at 5058 S Waverly Rd Lansing, MI.
    What is the lease rate?
    The lease rate is $8 SF/Yr.
    What are key features of this property?
    This property features: - Strong Demographics: Over 134,000 residents within a 5-mile radius.; - High Traffic Counts: Over 16,000 vehicles per day on S Waverly Rd & over 10,000 VPD on Jolly Rd.; - Family Dollar Anchored Shopping Center: A national retail tenant since 2000.
    (419) 705-9794
    Request Owner's contact information
    5058 S Waverly Rd Lansing, MI 48911
    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.
    5058 S Waverly Rd
    Lansing, MI 48911
    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
    5058 S Waverly Rd Lansing, MI 48911
    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
    Trent Szkutnik
    (419) 705-9794
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.