Collision Repair Center
For Sale
$1,624,000
3303 N East St, Lansing, MI 48906
Single-tenant collision right repair center is offered with a new 10-year double-net lease and corporate guarantee.
Property Size11,424 SF
Lot Size1.42 Acres
Price / SF$142.16
Days on Market174
Property Features for 3303 N East St
General Information
Standard status
Active
Size
11,424 SF
Lot size
1.42 Acres
Property subtype
Retail
Zoning
S-C
Building Details
Building Size
11,424 SF
Listing Agency:
Fortis Net Lease
Listed By:
Robert Bender · License #6501323470
(248) 254-3406
Source:
Cpix.resimplifi
Added: Mar 18
Changed: Aug 22
Last Checked: Sep 7 at 4:35AM
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 Fortis Net Lease
Investment Insights
Based on property information with market context.
Fortis Net Lease presents a single-tenant Collision Right Repair Center on N East St in Lansing, Michigan. The offering includes an 11,424-square-foot facility situated on 1.42 acres, operated under a new 10-year double-net structure with two, five-year renewal options. Rent increases are scheduled at 2% annually.
The lease is guaranteed by CollisionRight, LLC. The property is presented as having minimal landlord responsibilities over the lease term and is described as having ten years remaining on the initial term.
The investment is structured as a new 10-year NNN lease with corporate guarantee support from CollisionRight, LLC.
The lease is guaranteed by CollisionRight, LLC. The property is presented as having minimal landlord responsibilities over the lease term and is described as having ten years remaining on the initial term.
The investment is structured as a new 10-year NNN lease with corporate guarantee support from CollisionRight, LLC.
Key Highlights
- 11,424 SF single‑tenant Collision Right repair center on 1.42 acres in Lansing, MI
- New 10‑year NNN (double net) lease with minimal landlord responsibilities
- Lease is corporate‑guaranteed by CollisionRight, LLC
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$103,399
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.37%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,067,980
$2.1M
Cap Rate 7%
$1,477,129
$1.5M
Cap Rate 9%
$1,148,878
$1.1M
Market Conditions
NOI Build-Up for 11,424 SF
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.
Gross rent
$171.4K $15.00/SF
− Vacancy
−$23.6K −$2.07/SF
EGI
$147.7K $12.93/SF
− OpEx
−$44.3K −$3.88/SF
NOI
$103.4K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,067,980
Cap Rate 7%
$1,477,129
Cap Rate 9%
$1,148,878
Alternative Uses
Best Use
Retail
$1.48M
$1.29M – $1.72M
NOI $103,399 @ 7.0% cap · market cap 6.37%
Second Best
Industrial
$1.06M
$927.8K – $1.24M
NOI $74,226 @ 7.0% cap · market cap 4.57%
Theoretical Best
Office A
$2.35M
$2.06M – $2.74M
NOI $164,608 @ 7.0% cap · market cap 10.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
179
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- J.T.'s Quality Auto & Truck Repair — 1335 Lake Lansing Rd, Lansing, MI 48906
- Itow LLC. — 1335 Lake Lansing Rd, Lansing, MI 48912
- Valvoline Instant Oil Change — 2517 N East St, Lansing, MI 48906
- Allpro Automotive & Off-road — 2724 Turner Rd, Lansing, MI 48906
- Car place — 2724 Turner Rd, Lansing, MI 48906
Frequently Asked Questions
What type of property is this?
Auto shop - Single-tenant collision right repair center is offered with a new 10-year double-net lease and corporate guarantee.
Where is this auto shop located?
The property is located at 3303 N East St Lansing, MI.
What is the asking price?
The asking price for this property is $1,624,000.
What are key features of this property?
This property features: 11,424 SF single‑tenant Collision Right repair center on 1.42 acres in Lansing, MI; New 10‑year NNN (double net) lease with minimal landlord responsibilities; Lease is corporate‑guaranteed by CollisionRight, LLC
