Corner Retail
New
For Sale
$499,999
5101 S Pennsylvania Ave, Lansing, MI 48911
Vacant at close, the property offers two separate entrances and convenient access from a corner location.
Property Size2,615 SF
Days on Market7
Property Features for 5101 S Pennsylvania Ave
General Information
Standard status
Active
Size
2,615 SF
Property subtype
Commercial
Site & Location
Corner Location
Yes
Road Access
Yes
Building Details
Building Size
2,615 SF
Year Built
1956
Listing Agency:
(248) 478-6000
Listed By:
Mariann Kassab
(248) 478-6000
Source:
Elliman
Added: Jul 30
Changed: Jul 31
Last Checked: Aug 5 at 8:10AM
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 Mariann Kassab
Investment Insights
Based on property information with market context.
This retail property at 5101 S Pennsylvania Ave will be vacant at closing. The sale includes the building and property only; the current businesses are not included. Built in 1956, the property is positioned on a corner lot with two separate entrances that support convenient entry and exit.
The property is located at the intersection of Jolly and Pennsylvania Ave in Lansing, Michigan. WalkScore is 54, described as Somewhat Walkable; BikeScore is 60, described as Bikeable; and TransitScore is 34, described as Some Transit.
The property is located at the intersection of Jolly and Pennsylvania Ave in Lansing, Michigan. WalkScore is 54, described as Somewhat Walkable; BikeScore is 60, described as Bikeable; and TransitScore is 34, described as Some Transit.
Key Highlights
- Corner lot at 5101 S Pennsylvania Ave, Lansing, MI 48911
- Two separate entrances for convenient property access
- Property will be vacant at close
Financial Insights For Specialty 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 | $42.4k | $16.20 |
| − Vacancy | −$5.1k | −$1.94 |
| EGI | $37.3k | $14.26 |
| − OpEx | −$9.3k | −$3.56 |
| NOI | $28.0k | $10.69 |
2,615 SF · lease $16.20/SF/yr · vacancy 12.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$399.4K
$349.5K – $466.0K
NOI $27,960 @ 7.0% cap · market cap 5.59%
Second Best
Retail
$338.1K
$295.9K – $394.5K
NOI $23,668 @ 7.0% cap · market cap 4.73%
Theoretical Best
Office A
$538.3K
$471.0K – $628.0K
NOI $37,679 @ 7.0% cap · market cap 7.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
768
Businesses Nearby
Explore this area
Business Placement
Demographics for 48911, MI
40,566
Population
18,069
Households
2.2
Avg Household Size
36
Median Age
26%
College-Educated
90%
High-School Grad
17.3 sq mi
ZIP Area
2,345
Density / Sq Mi
$54,882
Median Household Income
$36,245
Median Earnings
$933
Median Rent
$136,900
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Vacant at close, the property offers two separate entrances and convenient access from a corner location.
Where is this retail space located?
The property is located at 5101 S Pennsylvania Ave Lansing, MI.
What is the asking price?
The asking price for this property is $499,999.
What are key features of this property?
This property features: Corner lot at 5101 S Pennsylvania Ave, Lansing, MI 48911; Two separate entrances for convenient property access; Property will be vacant at close
