Freestanding Storefront
For Sale
$225,000
1404 W Mt Hope Ave, Lansing, MI 48910
Flexible commercial storefront with MX-1 zoning and access to I-496.
Property Size2,280 SF
Price / SF$98.68
Days on Market290
Property Features for 1404 W Mt Hope Ave
General Information
Standard status
Active
Size
2,280 SF
Property subtype
Retail
Zoning
MX-1
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Building Size
2,280 SF
Year Built
1964
Stories
1
Listing Agency:
NAI Mid-Michigan
(517) 899-6368
Listed By:
Jeffrey Branch · License #6506049327
(517) 899-6368
Source:
Cpix.resimplifi
Added: Nov 13, 2025
Changed: Aug 30
Last Checked: Aug 30 at 1:26AM
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 NAI Mid-Michigan
Investment Insights
Based on property information with market context.
This 2,280-square-foot storefront property, built in 1964, offers a compact commercial setting for retail, restaurant, or office use. The property includes 615 square feet available for lease and is zoned MX-1, supporting a range of commercial applications identified for the site.
The building is positioned on Mt. Hope Avenue next to Quality Dairy and Colonial Village, providing established neighboring businesses and direct avenue exposure. Convenient access to I-496 adds regional connectivity for customers, employees, and deliveries.
The building is positioned on Mt. Hope Avenue next to Quality Dairy and Colonial Village, providing established neighboring businesses and direct avenue exposure. Convenient access to I-496 adds regional connectivity for customers, employees, and deliveries.
Key Highlights
- 2,280 SF storefront property built in 1964
- 615 SF available for lease
- MX‑1 zoning
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$20,636
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
9.17%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$412,720
$412.7K
Cap Rate 7%
$294,800
$294.8K
Cap Rate 9%
$229,289
$229.3K
Market Conditions
NOI Build-Up for 2,280 SF
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.
Gross rent
$34.2K $15.00/SF
− Vacancy
−$4.7K −$2.07/SF
EGI
$29.5K $12.93/SF
− OpEx
−$8.8K −$3.88/SF
NOI
$20.6K $9.05/SF
Area
Lansing, MI
Vacancy
13.80%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$412,720
Cap Rate 7%
$294,800
Cap Rate 9%
$229,289
Alternative Uses
Best Use
Specialty Retail
$348.3K
$304.7K – $406.3K
NOI $24,378 @ 7.0% cap · market cap 10.83%
Second Best
Retail
$294.8K
$258.0K – $343.9K
NOI $20,636 @ 7.0% cap · market cap 9.17%
Theoretical Best
Office A
$469.3K
$410.7K – $547.5K
NOI $32,852 @ 7.0% cap · market cap 14.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
257
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 48910, MI
33,702
Population
17,119
Households
2
Avg Household Size
35
Median Age
32%
College-Educated
91%
High-School Grad
14.2 sq mi
ZIP Area
2,373
Density / Sq Mi
$52,154
Median Household Income
$36,643
Median Earnings
$1,003
Median Rent
$117,600
Median Home Value
Questions? Ask Rey
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Similar Off Market Nearby
- Bloom — 1312 pacific ave, lansing, mi 48910
- Foliage Design Systems — 1124 E Mt Hope Ave, Lansing, MI 48910
- Van Peenen's Flowers — 1766 S Pennsylvania Ave, Lansing, MI 48910
Frequently Asked Questions
What type of property is this?
Storefront property - Flexible commercial storefront with MX-1 zoning and access to I-496.
Where is this storefront property located?
The property is located at 1404 W Mt Hope Ave Lansing, MI.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: 2,280 SF storefront property built in 1964; 615 SF available for lease; MX‑1 zoning
