Retail
For Sale
$3,100,000
2505 Showtime Dr, Lansing, MI 48912
The property is located in a planned development district.
Property Size25,185 SF
Price / SF$123.09
Days on Market553
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Property Features for 2505 Showtime Dr
General Information
Standard status
Active
Size
25,185 SF
Property subtype
Retail
Zoning
PD
Amenities
Water
Sewer
Building Details
Year Built
2015
Listing Agency:
Jones Lang LaSalle
Listed By:
Sarah Rose
(989) 615-0732
Source:
Carwm.resimplifi
Added: Apr 11, 2025
Changed: Oct 13
Last Checked: Oct 14 at 7:32PM
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 Jones Lang LaSalle
Investment Insights
Based on property information with market context.
This retail property contains 25,185 square feet and was built in 2015. Its zoning designation is PD. The property is at 2505 Showtime Dr in Lansing, Michigan.
Key Highlights
- 25,185 square feet of retail space
- Built in 2015
- Zoned PD
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$227,949
Cap Rate
7.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,558,980
$4.6M
Cap Rate 7%
$3,256,414
$3.3M
Cap Rate 9%
$2,532,767
$2.5M
Market Conditions
NOI Build-Up for 25,185 SF
Gross rent
$377.8K $15.00/SF
− Vacancy
−$52.1K −$2.07/SF
EGI
$325.6K $12.93/SF
− OpEx
−$97.7K −$3.88/SF
NOI
$227.9K $9.05/SF
Area
Lansing, MI
Vacancy
13.80%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,558,980
Cap Rate 7%
$3,256,414
Cap Rate 9%
$2,532,767
Alternative Uses
Best Use
Retail
$3.26M
$2.85M – $3.80M
NOI $227,949 @ 7.0% cap · market cap 7.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.18M
$4.54M – $6.05M
NOI $362,889 @ 7.0% cap · market cap 11.71%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
496
Businesses Nearby
78k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 38%
Electronics 34%
Dining 13%
Hotels & Casinos 9%
Apple Store
Electronics
26,325 visits/mo
0.3 miles
American Eagle Outfitters
Apparel
11,716 visits/mo
0.4 miles
Boston's Restaurant & Sports Bar
Dining
10,060 visits/mo
0.1 miles
Buckle
Apparel
5,831 visits/mo
0.4 miles
Express
Apparel
4,598 visits/mo
0.4 miles
Demographics for 48912, MI
17,155
Population
9,064
Households
1.9
Avg Household Size
34
Median Age
40%
College-Educated
91%
High-School Grad
5.2 sq mi
ZIP Area
3,299
Density / Sq Mi
$53,072
Median Household Income
$34,598
Median Earnings
$1,037
Median Rent
$139,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Frequently Asked Questions
What type of property is this?
Retail space - The property is located in a planned development district.
Where is this retail space located?
The property is located at 2505 Showtime Dr Lansing, MI.
What is the asking price?
The asking price for this property is $3,100,000.
What are key features of this property?
This property features: 25,185 square feet of retail space; Built in 2015; Zoned PD
