Senior Community Care Office
For Sale
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1921 East Miller Road, Lansing, MI 48911
Office property offered for sale along East Miller Road in Lansing.
Property Size25,511 SF
Price / SF$172.47
Days on Market63
Property Features for 1921 East Miller Road
General Information
Standard status
Active
Size
25,511 SF
Property subtype
Office
Occupancy
100%
Additional Details
Cap Rate
7.55%
Listing Agency:
Matthews
Listed By:
Jacob Friedman · License #IL 475169452
Source:
Crexi
Added: Aug 5
Changed: Sep 27
Last Checked: Oct 5 at 7:19PM
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 Matthews
Investment Insights
Based on property information with market context.
The property is an office building comprising 25,511 square feet at 1921 East Miller Road in Lansing, Michigan. The asset is offered for sale and is identified with a 7.55% cap rate in the property information.
Its address places the facility in Lansing’s 48911 ZIP code. The available information identifies the property as an office building without further detail on interior configuration, improvements, or site features.
Its address places the facility in Lansing’s 48911 ZIP code. The available information identifies the property as an office building without further detail on interior configuration, improvements, or site features.
Key Highlights
- 25,511‑square‑foot office building
- 7.55% cap rate
- 1921 East Miller Road, Lansing, MI 48911
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$270,376
Cap Rate
6.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,407,520
$5.4M
Cap Rate 7%
$3,862,514
$3.9M
Cap Rate 9%
$3,004,178
$3.0M
Market Conditions
NOI Build-Up for 25,511 SF
Gross rent
$489.8K $19.20/SF
− Vacancy
−$39.2K −$1.54/SF
EGI
$450.6K $17.66/SF
− OpEx
−$180.3K −$7.07/SF
NOI
$270.4K $10.60/SF
Area
Lansing, MI
Vacancy
8.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,407,520
Cap Rate 7%
$3,862,514
Cap Rate 9%
$3,004,178
Alternative Uses
Best Use
Healthcare Medical
$3.86M
$3.38M – $4.51M
NOI $270,376 @ 7.0% cap · market cap 6.14%
Second Best
Office B
$3.52M
$3.08M – $4.10M
NOI $246,130 @ 7.0% cap · market cap 5.59%
Theoretical Best
Office A
$5.25M
$4.59M – $6.13M
NOI $367,586 @ 7.0% cap · market cap 8.35%
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
260
Businesses Nearby
Explore this area
Business Placement
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
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 - Office property offered for sale along East Miller Road in Lansing.
Where is this office building located?
The property is located at 1921 East Miller Road Lansing, MI.
What is the asking price?
The asking price for this property is $4,400,000.
What are key features of this property?
This property features: 25,511‑square‑foot office building; 7.55% cap rate; 1921 East Miller Road, Lansing, MI 48911
