Office-Warehouse Flex
For Sale
$699,900
3002/3008 Turner Road, Lansing, MI 48906
Combined office and shop improvements provide a professional front-of-house setting with functional workspace for active business operations.
Property Size3,000 SF
Price / SF$233.30
Days on Market175
Property Features for 3002/3008 Turner Road
General Information
Standard status
Active
Size
3,000 SF
Warehouse & Industrial
Warehouse Space
4,700 SF
Office Build-Out
3,000 SF
Taxes and HOA fees
Annual Taxes
$27,154
Amenities
conference room
Building Details
Buildings
2
Construction
6x6 framing
Listing Agency:
RE/MAX Real Estate Professionals
(517) 321-8255
Listed By:
Mario R Baldino · License #6501415320
(517) 490-1230
Source:
Exprealty
Added: May 6
Changed: Oct 25
Last Checked: Oct 26 at 9:12PM
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 Real Estate Professionals
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This Lansing flex property combines a newly constructed office building with a renovated garage and shop area. The office component measures nearly 3,000 square feet and includes high-end finishes, a conference room with marble flooring, premium woodwork, and an upper-level private suite with a tiled full bathroom. The layout supports executive use, additional workspace, or a separate rental or residential conversion, as described in the property information.
The adjacent shop area provides more than 4,700 square feet and includes insulated interior walls using rigid foam board. A dual-zone mini-split system serves the enclosed east-end area for climate control. Construction details include durable 6x6 framing and TJI joists, creating a substantial configuration for office and workshop use.
The adjacent shop area provides more than 4,700 square feet and includes insulated interior walls using rigid foam board. A dual-zone mini-split system serves the enclosed east-end area for climate control. Construction details include durable 6x6 framing and TJI joists, creating a substantial configuration for office and workshop use.
Key Highlights
- Nearly 3,000 sq. ft. newly constructed office building
- More than 4,700 sq. ft. renovated garage and shop area
- Conference room with marble flooring and premium wood finishes
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,944
Cap Rate
4.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$578,880
$578.9K
Cap Rate 7%
$413,486
$413.5K
Cap Rate 9%
$321,600
$321.6K
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$48.2K $16.08/SF
− Vacancy
−$9.6K −$3.22/SF
EGI
$38.6K $12.86/SF
− OpEx
−$9.6K −$3.22/SF
NOI
$28.9K $9.65/SF
Area
Lansing, MI
Vacancy
20.00%
Lease Rate
$16.08 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$578,880
Cap Rate 7%
$413,486
Cap Rate 9%
$321,600
Alternative Uses
Best Use
Office B
$413.5K
$361.8K – $482.4K
NOI $28,944 @ 7.0% cap · market cap 4.14%
Second Best
Warehouse
$345.8K
$302.6K – $403.5K
NOI $24,208 @ 7.0% cap · market cap 3.46%
Theoretical Best
Office A
$617.5K
$540.3K – $720.5K
NOI $43,227 @ 7.0% cap · market cap 6.18%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
15
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48906, MI
25,674
Population
12,180
Households
2.1
Avg Household Size
37
Median Age
29%
College-Educated
91%
High-School Grad
32.5 sq mi
ZIP Area
790
Density / Sq Mi
$61,533
Median Household Income
$38,551
Median Earnings
$1,033
Median Rent
$128,600
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - Combined office and shop improvements provide a professional front-of-house setting with functional workspace for active business operations.
Where is this flex space located?
The property is located at 3002/3008 Turner Road Lansing, MI.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: Nearly 3,000 sq. ft. newly constructed office building; More than 4,700 sq. ft. renovated garage and shop area; Conference room with marble flooring and premium wood finishes
