Four-Bay Auto
For Sale
$219,000
2427 S Rundle Avenue, Lansing, MI 48910
Commercial Sale, Lansing, MI
Property Size2,840 SF
Lot Size0.13 Acres
Price / SF$77.11
Days on Market56
Property Features for 2427 S Rundle Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Zoning
Parking features
Parking Lot
Elementary school district
Lansing
Middle school district
Lansing
High school district
Lansing
Directions
GPS
Standard status
Active
APN
33-01-01-29-280-141
Size
2,840 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 44 BLOCK 4 RESUB OF BLOCKS 17, 21, 22 AND LOTS 35 TO 72 INCL, BLOCK 30 ELMHURST SUB
Tax Annual Amount
2419
Legal Description
LOT 44 BLOCK 4 RESUB OF BLOCKS 17, 21, 22 AND LOTS 35 TO 72 INCL, BLOCK 30 ELMHURST SUB
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Water source
Public
Amenities
dedicated office space
newly paved asphalt lot
Building Details
Year built
1947
Floors in Building
1
Building materials
Brick, Vinyl Siding
Listing Agency:
EXP Realty, LLC
(888) 501-7085
Listed By:
Mohamed Abukar · License #6506049101
(517) 505-4915
Added: Aug 12
Changed: Oct 6
Last Checked: Oct 6 at 5:06PM
MLS# 298446
Copyright © 2026 Greater Lansing Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,840-square-foot automotive property contains four service bays and dedicated office space. The building dates to 1947 and uses forced-air heating, with brick and vinyl siding construction. A newly paved asphalt lot, completed in 2023, supports the current automotive operation.
Located at 2427 S Rundle Avenue in Lansing, the property has public water and public sewer service. It is currently tenant-occupied and operates as a used-car dealership and auto-repair facility. The site encompasses 0.13 acres and includes an on-site parking lot.
Located at 2427 S Rundle Avenue in Lansing, the property has public water and public sewer service. It is currently tenant-occupied and operates as a used-car dealership and auto-repair facility. The site encompasses 0.13 acres and includes an on-site parking lot.
Key Highlights
- 2,840‑square‑foot automotive building on 0.13 acres
- Four service bays with dedicated office space
- Newly paved 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.
Property Analytics
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Current Use
Lease Details
4
Service bays
100%
Occupancy
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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Frequently Asked Questions
What type of property is this?
Auto shop - Automotive facility with dedicated office space and a paved parking lot in Lansing.
Where is this auto shop located?
The property is located at 2427 S Rundle Avenue 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 on 0.13 acres; Four service bays with dedicated office space; Newly paved asphalt lot completed in 2023
