Two-Story Office
For Sale
Contact for pricing
741 N Cedar St, Lansing, MI 48906
Modern two-story office building with a fully leased first floor and a second-floor suite available for occupancy.
Property Size16,608 SF
Price / SF$0.00
Days on Market546
Property Features for 741 N Cedar St
General Information
Standard status
Active
Size
16,608 SF
Class
B
Total Parking Spaces
70
Property subtype
Office
Zoning
DT-2
Site & Location
Neighborhood
North Lansing Community Association
Building Details
Building Size
16,608 SF
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
Martin Commercial Properties
Listed By:
Eric F. Rosekrans · License #6501153826
(517) 290-7606
Source:
Cpix.resimplifi
Added: May 1, 2025
Changed: Oct 25
Last Checked: Oct 28 at 4:57AM
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 Martin Commercial Properties
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Investment Insights
Based on property information with market context.
This modern two-story office building offers a strong owner-user setup with built-in rental income. The first floor is fully leased and occupied by four tenants, while a 7,565 SF second-floor suite is available for occupancy. The available suite features a predominantly open layout designed for flexibility, with expansive windows that bring in natural light.
The property is located near the intersection of Saginaw and Cedar Streets in Lansing, with convenient access to the area’s primary business corridors, including Downtown and the Capitol area. The site includes up to 70 parking spaces, and the building offers signage opportunities including building and monument signage.
A second-floor tenant suite is available for lease as well, and a rent roll is available upon request.
The property is located near the intersection of Saginaw and Cedar Streets in Lansing, with convenient access to the area’s primary business corridors, including Downtown and the Capitol area. The site includes up to 70 parking spaces, and the building offers signage opportunities including building and monument signage.
A second-floor tenant suite is available for lease as well, and a rent roll is available upon request.
Key Highlights
- Modern two‑story office building totaling 16,000 SF near Saginaw & Cedar Streets in Lansing
- First floor is fully leased with four tenants
- Second‑floor suite available for occupancy: 7,565 SF with predominantly open layout and expansive windows
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$160,234
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,204,680
$3.2M
Cap Rate 7%
$2,289,057
$2.3M
Cap Rate 9%
$1,780,378
$1.8M
Market Conditions
NOI Build-Up for 16,608 SF
Gross rent
$267.1K $16.08/SF
− Vacancy
−$53.4K −$3.22/SF
EGI
$213.6K $12.86/SF
− OpEx
−$53.4K −$3.22/SF
NOI
$160.2K $9.65/SF
Area
Lansing, MI
Vacancy
20.00%
Lease Rate
$16.08 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,204,680
Cap Rate 7%
$2,289,057
Cap Rate 9%
$1,780,378
Alternative Uses
Best Use
Office B
$2.29M
$2.00M – $2.67M
NOI $160,234 @ 7.0% cap · market cap 890,188.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.42M
$2.99M – $3.99M
NOI $239,303 @ 7.0% cap · market cap 1,329,461.11%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
See the owner, sales and loan history
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,489
Businesses Nearby
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
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Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office building - Modern two-story office building with a fully leased first floor and a second-floor suite available for occupancy.
Where is this office building located?
The property is located at 741 N Cedar St Lansing, MI.
What are key features of this property?
This property features: Modern two‑story office building totaling 16,000 SF near Saginaw & Cedar Streets in Lansing; First floor is fully leased with four tenants; Second‑floor suite available for occupancy: 7,565 SF with predominantly open layout and expansive windows
