Mixed-Use Property with Adaptive
For Sale
Contact for pricing
3101 E Grand River, Lansing, MI 48912
MX-2-zoned property with an existing building and redevelopment potential.
Property Size42,800 SF
Lot Size3.30 Acres
Price / SF$115.65
Days on Market163
Property Features for 3101 E Grand River
General Information
Standard status
Active
Size
42,800 SF
Lot size
3.30 Acres
Property subtype
Retail, Multifamily, Office, Mixed Use
Zoning
MX-2
Investment Type
Redevelopment
Building Details
Year Built
1962
Buildings
1
Stories
4
Units
1
Listing Agency:
CRS, Commercial Real Estate Services
Listed By:
Leo Gonzalez · License #MI 6502126741
Source:
Crexi
Added: May 6
Changed: Oct 5
Last Checked: Oct 14 at 10:54PM
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 CRS, Commercial Real Estate Services
Investment Insights
Based on property information with market context.
Located at 3101 E Grand River in Lansing, this 3.3-acre mixed-use property includes an approximately 42,800-square-foot building constructed in 1962. The existing improvement supports an adaptive reuse strategy, while the site also provides a foundation for future mixed-use redevelopment.
The property is situated within the Michigan State University campus market and is zoned MX-2. The district supports retail and service commercial activity, office uses, multifamily residential development, and select entertainment uses subject to approval. Its urban mixed-use framework is intended for denser, pedestrian-oriented development and may accommodate a combination of retail, residential, and service-oriented components.
The property is situated within the Michigan State University campus market and is zoned MX-2. The district supports retail and service commercial activity, office uses, multifamily residential development, and select entertainment uses subject to approval. Its urban mixed-use framework is intended for denser, pedestrian-oriented development and may accommodate a combination of retail, residential, and service-oriented components.
Key Highlights
- 3.3‑acre mixed‑use property in Lansing’s Michigan State University campus market
- Approximately 42,800‑square‑foot existing building
- MX‑2 zoning supports retail, service commercial, office, and multifamily uses
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$387,383
Cap Rate
7.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,747,660
$7.7M
Cap Rate 7%
$5,534,043
$5.5M
Cap Rate 9%
$4,304,256
$4.3M
Market Conditions
NOI Build-Up for 42,800 SF
Gross rent
$642.0K $15.00/SF
− Vacancy
−$88.6K −$2.07/SF
EGI
$553.4K $12.93/SF
− OpEx
−$166.0K −$3.88/SF
NOI
$387.4K $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%
$7,747,660
Cap Rate 7%
$5,534,043
Cap Rate 9%
$4,304,256
Alternative Uses
Best Use
Retail
$5.53M
$4.84M – $6.46M
NOI $387,383 @ 7.0% cap · market cap 7.83%
Second Best
Mixed Use
$5.46M
$4.77M – $6.37M
NOI $381,990 @ 7.0% cap · market cap 7.72%
Theoretical Best
Office A
$8.81M
$7.71M – $10.28M
NOI $616,702 @ 7.0% cap · market cap 12.46%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,038
Businesses Nearby
230k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 39%
Dining 32%
Apparel 18%
Home Improvements & Furnishings 7%
McDonald's
Dining
37,156 visits/mo
0.1 miles
Speedway
Shops & Services
34,353 visits/mo
0.0 miles
T.J. Maxx
Apparel
28,342 visits/mo
0.2 miles
Michaels
Shops & Services
26,837 visits/mo
0.2 miles
Blaze Pizza
Dining
18,480 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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - MX-2-zoned property with an existing building and redevelopment potential.
Where is this mixed-use property located?
The property is located at 3101 E Grand River Lansing, MI.
What is the asking price?
The asking price for this property is $4,950,000.
What are key features of this property?
This property features: 3.3‑acre mixed‑use property in Lansing’s Michigan State University campus market; Approximately 42,800‑square‑foot existing building; MX‑2 zoning supports retail, service commercial, office, and multifamily uses
