Flex Property with Office and
For Sale
Contact for pricing
3002 TURNER ST, Lansing, MI 48906
Combined office and workshop improvements offer a professional setting with dedicated operational space.
Property Size5,500 SF
Price / SF$127.25
Days on Market165
Property Features for 3002 TURNER ST
General Information
Standard status
Active
Size
5,500 SF
Total Parking Spaces
6
Property subtype
Office, Mixed Use
Occupancy
100%
Building Details
Year Built
1979
Stories
1
Units
6
Listing Agency:
RE/MAX Real Estate Professionals
Listed By:
Mario Baldino · License #6501415320
(517) 236-8598
Source:
Crexi
Added: May 6
Changed: Oct 6
Last Checked: Oct 16 at 9:13AM
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
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Investment Insights
Based on property information with market context.
This flex property combines a nearly 3,000-square-foot office building with a fully renovated garage and shop area exceeding 4,700 square feet. The office includes a conference room finished with marble flooring and premium woodwork, along with an upper-level private suite featuring a full tiled bathroom. The layout supports executive use, additional workspace, or a separate rental arrangement as described in the property information.
The shop includes insulated interior walls with rigid foam board and a dual-zone mini-split system serving the enclosed east-end area. Durable 6x6 framing and TJI joist construction are incorporated throughout the improvements. The property is located at 3002 Turner St in Lansing, Michigan.
The shop includes insulated interior walls with rigid foam board and a dual-zone mini-split system serving the enclosed east-end area. Durable 6x6 framing and TJI joist construction are incorporated throughout the improvements. The property is located at 3002 Turner St in Lansing, Michigan.
Key Highlights
- Nearly 3,000‑square‑foot office building paired with a shop exceeding 4,700 square feet
- Conference room with marble flooring and premium wood finishes
- Upper‑level private suite with a full tiled bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$53,064
Cap Rate
7.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,061,280
$1.1M
Cap Rate 7%
$758,057
$758.1K
Cap Rate 9%
$589,600
$589.6K
Market Conditions
NOI Build-Up for 5,500 SF
Gross rent
$88.4K $16.08/SF
− Vacancy
−$17.7K −$3.22/SF
EGI
$70.8K $12.86/SF
− OpEx
−$17.7K −$3.22/SF
NOI
$53.1K $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%
$1,061,280
Cap Rate 7%
$758,057
Cap Rate 9%
$589,600
Alternative Uses
Best Use
Office B
$758.1K
$663.3K – $884.4K
NOI $53,064 @ 7.0% cap · market cap 7.58%
Second Best
Warehouse
$634.0K
$554.8K – $739.7K
NOI $44,382 @ 7.0% cap · market cap 6.34%
Theoretical Best
Office A
$1.13M
$990.6K – $1.32M
NOI $79,249 @ 7.0% cap · market cap 11.32%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
197
Businesses Nearby
Under-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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Similar Off Market Nearby
- Lansing catering LLC — 3212 N East St, Lansing, MI 48906
Frequently Asked Questions
What type of property is this?
Flex space - Combined office and workshop improvements offer a professional setting with dedicated operational space.
Where is this flex space located?
The property is located at 3002 TURNER ST 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‑square‑foot office building paired with a shop exceeding 4,700 square feet; Conference room with marble flooring and premium wood finishes; Upper‑level private suite with a full tiled bathroom
