Renovated Two-Story Office
For Sale
$1,950,000
1650 Kendale Blvd, East Lansing, MI 48823
Renovated brick office property with an elevator and on-site parking.
Property Size14,434 SF
Price / SF$135.10
Days on Market67
Property Features for 1650 Kendale Blvd
General Information
Standard status
Active
Size
14,434 SF
Property subtype
Office
Building Details
Building Size
14,434 SF
Listing Agency:
NAI Mid-Michigan
Listed By:
Gino Baldino
(517) 487-9222
Source:
Cpix.resimplifi
Added: Aug 1
Changed: Sep 8
Last Checked: Oct 5 at 3:19PM
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 two-story brick office building contains 14,434 square feet of renovated office space. An elevator serves the building, and on-site parking is available for occupants and visitors. The property is configured for professional office use and is located at 1650 Kendale Blvd in East Lansing, Michigan.
Seven tenants currently occupy the building along with the owner, creating an established occupancy profile. The owner is willing to remain as a tenant under an acceptable lease arrangement. The property also carries a reported 9.8 CAP, providing additional operating information for prospective buyers.
Seven tenants currently occupy the building along with the owner, creating an established occupancy profile. The owner is willing to remain as a tenant under an acceptable lease arrangement. The property also carries a reported 9.8 CAP, providing additional operating information for prospective buyers.
Key Highlights
- 14,434 square feet of office space across two stories
- Renovated brick office building with elevator
- Seven tenants plus the owner currently occupy the property
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$121,748
Cap Rate
6.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,434,960
$2.4M
Cap Rate 7%
$1,739,257
$1.7M
Cap Rate 9%
$1,352,756
$1.4M
Market Conditions
NOI Build-Up for 14,434 SF
Gross rent
$207.8K $14.40/SF
− Vacancy
−$45.5K −$3.15/SF
EGI
$162.3K $11.25/SF
− OpEx
−$40.6K −$2.81/SF
NOI
$121.7K $8.43/SF
Area
Ingham County, MI
Vacancy
21.90%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,434,960
Cap Rate 7%
$1,739,257
Cap Rate 9%
$1,352,756
Alternative Uses
Best Use
Office B
$1.74M
$1.52M – $2.03M
NOI $121,748 @ 7.0% cap · market cap 6.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.32M
$2.03M – $2.71M
NOI $162,331 @ 7.0% cap · market cap 8.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
741
Businesses Nearby
Explore this area
Business Placement
Demographics for 48823, MI
51,793
Population
23,757
Households
2.2
Avg Household Size
28
Median Age
64%
College-Educated
98%
High-School Grad
23.6 sq mi
ZIP Area
2,195
Density / Sq Mi
$50,837
Median Household Income
$19,837
Median Earnings
$1,127
Median Rent
$261,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office building - Renovated brick office property with an elevator and on-site parking.
Where is this office building located?
The property is located at 1650 Kendale Blvd East Lansing, MI.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: 14,434 square feet of office space across two stories; Renovated brick office building with elevator; Seven tenants plus the owner currently occupy the property
