Former Bank Building
2521 S Cedar St Lansing, MI 48910
For Sale
$350,000
2,328 sq ft former bank branch on 0.6 acres.
Property Size2,328 SF
Lot Size0.60 Acres
Price / SF$150.34
Days on Market153
Property Features for 2521 S Cedar St
General Information
Standard status
Active
Size
2,328 SF
Lot size
0.60 Acres
Property subtype
Retail, Office
Building Details
Year Built
1948
Listing Agency:
RE/MAX COMMERCIAL GROUP
(517) 321-2800
Listed By:
Matthew Wisniewski · License #6501360426
(517) 321-2800
Source:
Cpix.resimplifi
Added: Feb 26
Changed: Jul 10
Last Checked: Jul 29 at 3:37AM
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 RE/MAX COMMERCIAL GROUP
Investment Insights
Based on property information with market context.
This 2,328 sq ft single-story Class B commercial property, originally built in 1937 and renovated in 2017, is a former bank branch situated on a 0.6-acre hard corner parcel. The property is located at the signalized intersection of S Cedar Street and Greenlawn Avenue in south Lansing, offering frontage on three streets and high daily traffic counts. It is positioned in a bustling southside Lansing corridor, near major thoroughfares, residential neighborhoods, and everyday amenities. The location is suitable for retail, office, financial services, medical, professional use, or a dispensary/secure business operation. The property includes a preserved working bank vault, spacious open areas, multiple private offices, and a partial basement offering extra storage, a second restroom, and a mechanical room. Modern updates from the 2017 renovation include a remodeled entryway, counters, and flooring. A large rear lot provides abundant off-street parking for customers and staff, plus a standalone drive-thru lane.
Key Highlights
- High‑visibility hard corner location at a signalized intersection with frontage on three streets and high daily traffic counts.
- Former bank building with a preserved, working vault, offering unique security and marketing potential.
- Generous 0.6‑acre parcel with expansive parking and a standalone drive‑thru lane.
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 | $37.7k | $16.20 |
| − Vacancy | −$4.5k | −$1.94 |
| EGI | $33.2k | $14.26 |
| − OpEx | −$8.3k | −$3.56 |
| NOI | $24.9k | $10.69 |
2,328 SF · lease $16.20/SF/yr · vacancy 12.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$355.6K
$311.1K – $414.9K
NOI $24,891 @ 7.0% cap · market cap 7.11%
Second Best
Retail
$301.0K
$263.4K – $351.2K
NOI $21,071 @ 7.0% cap · market cap 6.02%
Theoretical Best
Office A
$479.2K
$419.3K – $559.1K
NOI $33,544 @ 7.0% cap · market cap 9.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Bank - 2,328 sq ft former bank branch on 0.6 acres.
Where is this bank located?
The property is located at 2521 S Cedar St Lansing, MI.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: High‑visibility hard corner location at a signalized intersection with frontage on three streets and high daily traffic counts.; Former bank building with a preserved, working vault, offering unique security and marketing potential.; Generous 0.6‑acre parcel with expansive parking and a standalone drive‑thru lane.
