Four-Bay Auto
For Sale
$219,000
2427 S Rundle Ave, Lansing, MI 48910
Tenant-occupied automotive facility with dedicated offices and a recently paved asphalt lot.
Property Size2,840 SF
Price / SF$77.11
Days on Market65
Property Features for 2427 S Rundle Ave
General Information
Standard status
Active
Size
2,840 SF
Additional Details
Service Bays
4
Taxes and HOA fees
Annual Taxes
$2,419
Amenities
dedicated office space
newly paved asphalt lot
Building Details
Tenancy
Single
Listing Agency:
EXP Realty, LLC
(888) 501-7085
Listed By:
Mohamed Abukar · License #6506049101
(517) 505-4915
Source:
Exprealty
Added: Aug 12
Changed: Oct 8
Last Checked: Oct 13 at 12:35AM
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 EXP Realty, LLC
Investment Insights
Based on property information with market context.
This automotive property combines a 2,840-square-foot building with four service bays, dedicated office space, and an asphalt lot repaved in 2023. The facility is currently operating as a used-car dealership and auto-repair location, supporting continued automotive use subject to verification of zoning, licensing, and permitted uses.
Located at 2427 S Rundle Ave in Lansing, Michigan, the property is occupied by a tenant willing to execute a lease for 12 months or longer. Lease terms, licensing, zoning, and other property information should be independently verified by the buyer and buyer’s agent.
Located at 2427 S Rundle Ave in Lansing, Michigan, the property is occupied by a tenant willing to execute a lease for 12 months or longer. Lease terms, licensing, zoning, and other property information should be independently verified by the buyer and buyer’s agent.
Key Highlights
- 2,840‑square‑foot automotive building
- Four service bays with dedicated office space
- Asphalt lot completed in 2023
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,453
Cap Rate
8.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$369,060
$369.1K
Cap Rate 7%
$263,614
$263.6K
Cap Rate 9%
$205,033
$205.0K
Market Conditions
NOI Build-Up for 2,840 SF
Gross rent
$29.0K $10.20/SF
− Vacancy
−$2.6K −$0.92/SF
EGI
$26.4K $9.28/SF
− OpEx
−$7.9K −$2.78/SF
NOI
$18.5K $6.50/SF
Area
Lansing, MI
Vacancy
9.00%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$369,060
Cap Rate 7%
$263,614
Cap Rate 9%
$205,033
Alternative Uses
Best Use
Retail
$367.2K
$321.3K – $428.4K
NOI $25,705 @ 7.0% cap · market cap 11.74%
Second Best
Industrial
$263.6K
$230.7K – $307.6K
NOI $18,453 @ 7.0% cap · market cap 8.43%
Theoretical Best
Office A
$584.6K
$511.5K – $682.0K
NOI $40,921 @ 7.0% cap · market cap 18.69%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
4
Service bays
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
639
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48910, MI
33,702
Population
17,119
Households
2
Avg Household Size
35
Median Age
32%
College-Educated
91%
High-School Grad
14.2 sq mi
ZIP Area
2,373
Density / Sq Mi
$52,154
Median Household Income
$36,643
Median Earnings
$1,003
Median Rent
$117,600
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?
Auto shop - Tenant-occupied automotive facility with dedicated offices and a recently paved asphalt lot.
Where is this auto shop located?
The property is located at 2427 S Rundle Ave Lansing, MI.
What is the asking price?
The asking price for this property is $219,000.
What are key features of this property?
This property features: 2,840‑square‑foot automotive building; Four service bays with dedicated office space; Asphalt lot completed in 2023
