Flex Space with
For Sale
$99,000
16120 Old U.s 27, Lansing, MI 48906
Commercial Sale, Lansing, MI
Property Size800 SF
Lot Size0.33 Acres
Price / SF$123.75
Days on Market147
Property Features for 16120 Old U.s 27
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Zoning
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Parking features
Parking Lot
Elementary school district
Lansing
Middle school district
Lansing
High school district
Lansing
Directions
Off of Old US 27
Standard status
Active
APN
19-050-470-000-049-18
Size
800 SF
Lot size
0.33 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
BEG 41 RDS 12 1/2 FT S OF NE CORNER OF SEC 33 T5NR2W THEN W 12 RDS 6 FT N 70 FT E 12 RDS 6 FT S 70 FT TO BEG SUPERVISORS PLAT OF VALLEY FARMS NO 1
Tax Annual Amount
719
Legal Description
BEG 41 RDS 12 1/2 FT S OF NE CORNER OF SEC 33 T5NR2W THEN W 12 RDS 6 FT N 70 FT E 12 RDS 6 FT S 70 FT TO BEG SUPERVISORS PLAT OF VALLEY FARMS NO 1
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Water source
Public
Building Details
Year built
1925
Floors in Building
1
Building materials
Vinyl Siding
Listing Agency:
Home Towne Real Estate
(517) 372-2273
Listed By:
Rose Gedeon · License #6501401379
(517) 803-7573
Added: May 13
Changed: Aug 19
Last Checked: Oct 6 at 9:06AM
MLS# 295888
Copyright © 2026 Greater Lansing Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 800-square-foot flex property includes a garage, office area, and bathroom within a building constructed in 1925. Vinyl siding, natural-gas heating, and a parking lot are among the existing improvements.
The property occupies 0.33 acres at 16120 Old U.S. 27 in Lansing, Michigan. Public water and public sewer serve the site, providing established utility connections for the existing commercial improvements.
The property occupies 0.33 acres at 16120 Old U.S. 27 in Lansing, Michigan. Public water and public sewer serve the site, providing established utility connections for the existing commercial improvements.
Key Highlights
- 800 square feet of flex space on a 0.33‑acre lot
- Garage with office area and bathroom
- Constructed in 1925 with vinyl siding
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$6,178
Cap Rate
6.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$123,560
$123.6K
Cap Rate 7%
$88,257
$88.3K
Cap Rate 9%
$68,644
$68.6K
Market Conditions
NOI Build-Up for 800 SF
Gross rent
$10.6K $13.20/SF
− Vacancy
−$1.1K −$1.32/SF
EGI
$9.5K $11.88/SF
− OpEx
−$3.3K −$4.16/SF
NOI
$6.2K $7.72/SF
Area
Lansing, MI
Vacancy
10.00%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$123,560
Cap Rate 7%
$88,257
Cap Rate 9%
$68,644
Alternative Uses
Best Use
Flex RnD
$88.3K
$77.2K – $103.0K
NOI $6,178 @ 7.0% cap · market cap 6.24%
Second Best
Industrial
$74.3K
$65.0K – $86.6K
NOI $5,198 @ 7.0% cap · market cap 5.25%
Theoretical Best
Office A
$164.7K
$144.1K – $192.1K
NOI $11,527 @ 7.0% cap · market cap 11.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
214
Businesses Nearby
Balanced
Demand for This Use
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
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Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Flex space - Compact commercial property with office space, a bathroom, parking, and public utilities.
Where is this flex space located?
The property is located at 16120 Old U.s 27 Lansing, MI.
What is the asking price?
The asking price for this property is $99,000.
What are key features of this property?
This property features: 800 square feet of flex space on a 0.33‑acre lot; Garage with office area and bathroom; Constructed in 1925 with vinyl siding
