East Lansing Specialty/School Investment
1575 Ramblewood Dr East Lansing, MI 48823
For Sale
$2,175,000
20,410 SF building in prime East Lansing location.
Property Size20,410 SF
Price / SF$106.57
Days on Market174
Property Features for 1575 Ramblewood Dr
General Information
- Standard status
- Active
- Size
- 20,410 SF
- Property subtype
- Healthcare, Office
Building Details
- Year Built
- 2001
Listing Agency:
NAI Mid-Michigan
(517) 281-5800
Listed By:
Jerome Abood
Source:
Cpix.resimplifi
Added: Jan 30
Changed: Jul 10
Last Checked: Jul 23 at 2:42AM
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.
Located in East Lansing, this property features a 20,410 square foot building with four units. Constructed in 2001 and zoned B4, the property is suitable for educational or specialty use. The building's design and unit configuration provide flexibility, while its location enhances its investment potential. The property is positioned for special purpose or school investors seeking an adaptable asset in East Lansing. The location, just off Coolidge Road, offers visibility and accessibility. The property has a history of medical use, previously serving as the main office of Lansing Neurosurgery. The building, constructed in 2001, includes four professional units across two floors. Its suitability for medical and professional office operations is demonstrated by its history of specialty medical use. The seller offers a lease-back option through December 31, 2026, providing income and continuity of occupancy.
Key Highlights
- Prime East Lansing location with strong visibility and excellent accessibility.
- Seller lease‑back through 12/31/26 providing immediate, stable income.
- 20,410 SF building comprised of 4 professional units.
Financial Insights For Healthcare Medical
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 | $367.4k | $18.00 |
| − Vacancy | −$80.5k | −$3.94 |
| EGI | $286.9k | $14.06 |
| − OpEx | −$114.8k | −$5.62 |
| NOI | $172.2k | $8.43 |
20,410 SF · lease $18.00/SF/yr · vacancy 21.90% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$2.46M
$2.15M – $2.87M
NOI $172,154 @ 7.0% cap · market cap 7.92%
Second Best
Office B
$2.46M
$2.15M – $2.87M
NOI $172,154 @ 7.0% cap · market cap 7.92%
Theoretical Best
Office A
$3.28M
$2.87M – $3.83M
NOI $229,539 @ 7.0% cap · market cap 10.55%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Dr. William P. ...
Pediatrician
Karl Dunn
Physician
John Jerome
Physician
Dr. Omar Qahwash
Physician
MOHAMED ELNABTITY, MD ...
Physician
Similar Off Market Nearby
- USDA, APHIS, VS, Veterinary Services — 3001 Coolidge Rd #325, East Lansing, MI 48823
FAQs
What type of property is this?
Medical Office Space - 20,410 SF building in prime East Lansing location.
Where is this medical office space located?
The property is located at 1575 Ramblewood Dr East Lansing, MI.
What is the asking price?
The asking price for this property is $2,175,000.
What are key features of this property?
This property features: Prime East Lansing location with strong visibility and excellent accessibility.; Seller lease‑back through 12/31/26 providing immediate, stable income.; 20,410 SF building comprised of 4 professional units.
