Full-Service Restaurant with
For Sale
$525,000
172 E Edgewood Blvd, Lansing, MI 48911
Restaurant property includes an operational kitchen, covered outdoor seating, and dedicated parking.
Property Size4,285 SF
Lot Size1.17 Acres
Price / SF$122.52
Days on Market329
Property Features for 172 E Edgewood Blvd
General Information
Standard status
Active
Size
4,285 SF
Total Parking Spaces
90
Lot size
1.17 Acres
Property subtype
Retail
Zoning
S-C
Restaurant
Commercial Hood
Yes
Patio
Yes
Additional Details
Highway Access
Yes
Amenities
Private office
Building Details
Building Size
4,285 SF
Year Built
2001
Buildings
1
Stories
1
Listing Agency:
Colliers Lansing
Listed By:
Jeff Ridenour · License #6502373144
(517) 204-7902
Source:
Cpix.resimplifi
Added: Nov 20, 2025
Changed: Oct 7
Last Checked: Oct 14 at 7:53PM
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 Colliers Lansing
Investment Insights
Based on property information with market context.
This restaurant property includes an open dining area, dedicated bar space, and a separate section suited to high-top tables. The operational kitchen contains a large hood, walk-in freezer/refrigerator, and separate dry storage room. A private office and covered outdoor patio add functional support and seating capacity. The building was constructed in 2001 and is situated on 1.17 acres.
The property is positioned on E Edgewood Blvd in Lansing, directly along a retail corridor and just west of the Cedar St./I-96 interchange. Dedicated on-site parking includes 90 spaces. Zoning is S-C.
The property is positioned on E Edgewood Blvd in Lansing, directly along a retail corridor and just west of the Cedar St./I-96 interchange. Dedicated on-site parking includes 90 spaces. Zoning is S-C.
Key Highlights
- 4,825 SF full‑service restaurant building on 1.17 acres
- 560 SF covered outdoor patio
- 90 dedicated parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,815
Cap Rate
8.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$916,300
$916.3K
Cap Rate 7%
$654,500
$654.5K
Cap Rate 9%
$509,056
$509.1K
Market Conditions
NOI Build-Up for 4,285 SF
Gross rent
$69.4K $16.20/SF
− Vacancy
−$8.3K −$1.94/SF
EGI
$61.1K $14.26/SF
− OpEx
−$15.3K −$3.56/SF
NOI
$45.8K $10.69/SF
Area
Lansing, MI
Vacancy
12.00%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$916,300
Cap Rate 7%
$654,500
Cap Rate 9%
$509,056
Alternative Uses
Best Use
Specialty Retail
$654.5K
$572.7K – $763.6K
NOI $45,815 @ 7.0% cap · market cap 8.73%
Second Best
Industrial
$397.7K
$348.0K – $464.0K
NOI $27,841 @ 7.0% cap · market cap 5.30%
Theoretical Best
Office A
$882.0K
$771.8K – $1.03M
NOI $61,742 @ 7.0% cap · market cap 11.76%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Commercial hood
Location Intelligence
Trade Area within ½ mile
221
Businesses Nearby
31k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 85%
Shops & Services 11%
Electronics 4%
Texas Roadhouse
Dining
26,571 visits/mo
0.3 miles
Dollar General
Shops & Services
3,311 visits/mo
0.5 miles
Verizon
Electronics
1,376 visits/mo
0.5 miles
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
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Cap Rate, Value Estimation, Potential NOI and more
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Restaurant property includes an operational kitchen, covered outdoor seating, and dedicated parking.
Where is this conventional restaurant located?
The property is located at 172 E Edgewood Blvd Lansing, MI.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 4,825 SF full‑service restaurant building on 1.17 acres; 560 SF covered outdoor patio; 90 dedicated parking spaces
