Freestanding Retail Building with
223 N Clippert St Lansing, MI 48912
223 N Clippert St, Lansing, MI, 48912
$950,000
For Sale
$950,000
Freestanding retail building with added drive-thru infrastructure, positioned for professional, medical, or service use.
Property Size4,054 SF
Lot Size1.11 Acres
Price / SF$234.34
Days on Market49
Property Features for 223 N Clippert St
General Information
- Standard status
- Active
- Size
- 4,054 SF
- Lot size
- 1.11 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1969
Listing agency
NAI Wisinski of West Michigan - Kalamazoo
(269) 353-0311
Listed by
Jodi K Milks · License #6506044331
Source
Elliman
Added: Jun 3 Updated: Jul 10 at 1:50PM Checked: Jul 21 at 6:16AM
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 Wisinski of West Michigan - Kalamazoo
Investment Insights
Based on property information with market context.
This freestanding retail building totals 4,054 SF, with an additional 2,000 SF drive-thru component, situated on 1.11 acres. The property was formerly operated as a bank branch, leaving it well configured for service-oriented uses that benefit from a built-in customer flow. Zoned MX-2 Mixed-Use Community Center, the building includes drive-thru infrastructure that can support similar traffic-oriented operations.
The site is located in Lansing on N Clippert Street near Michigan Avenue, positioned within a high-traffic commercial corridor. The property has visibility and signage exposure to US-127 and offers convenient access throughout the Lansing market.
For tenants, buyers, or operators, the combination of a freestanding retail building and drive-thru functionality makes the asset a practical fit for professional office, medical, or other service-oriented concepts that want an existing drive-thru setup and an accessible, high-exposure retail location. Availability is scheduled for September 2026.
The site is located in Lansing on N Clippert Street near Michigan Avenue, positioned within a high-traffic commercial corridor. The property has visibility and signage exposure to US-127 and offers convenient access throughout the Lansing market.
For tenants, buyers, or operators, the combination of a freestanding retail building and drive-thru functionality makes the asset a practical fit for professional office, medical, or other service-oriented concepts that want an existing drive-thru setup and an accessible, high-exposure retail location. Availability is scheduled for September 2026.
Key Highlights
- Freestanding 4,054 SF retail building plus an additional 2,000 SF drive‑thru on 1.11 acres in the City of Lansing
- Year built: 1969; formerly operated as a bank branch with existing drive‑thru infrastructure
- Located on N Clippert Street near Michigan Avenue in a high‑traffic commercial corridor with established retail, dining, and service businesses
Local Financial Insights For Specialty Retail
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 | $65.7k | $16.20 |
| − Vacancy | −$7.9k | −$1.94 |
| EGI | $57.8k | $14.26 |
| − OpEx | −$14.4k | −$3.56 |
| NOI | $43.3k | $10.69 |
4,054 SF · lease $16.20/SF/yr · vacancy 12.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$619.2K
$541.8K – $722.4K
NOI $43,345 @ 7.0% cap · market cap 4.56%
Second Best
Healthcare Medical
$613.8K
$537.1K – $716.1K
NOI $42,966 @ 7.0% cap · market cap 4.52%
Theoretical Best
Office A
$834.5K
$730.2K – $973.6K
NOI $58,414 @ 7.0% cap · market cap 6.15%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Comerica Bank
Bank
Comerica Bank - ATM
Atm
Similar For Sale Nearby
FAQs
What type of property is this?
Office building - Freestanding retail building with added drive-thru infrastructure, positioned for professional, medical, or service use.
Where is this office building located?
The property is located at 223 N Clippert St Lansing, MI.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Freestanding 4,054 SF retail building plus an additional 2,000 SF drive‑thru on 1.11 acres in the City of Lansing; Year built: 1969; formerly operated as a bank branch with existing drive‑thru infrastructure; Located on N Clippert Street near Michigan Avenue in a high‑traffic commercial corridor with established retail, dining, and service businesses
