Two-Unit Commercial
New
For Sale
$279,000
3318-3320 S Cedar St, Lansing, MI 48910
Two commercial units include full basements, with one currently occupied by Boost Mobile.
Property Size2,500 SF
Price / SF$111.60
Days on Market3
Property Features for 3318-3320 S Cedar St
General Information
Standard status
Active
Size
2,500 SF
Property subtype
Commercial
Zoning
Commercial
Site & Location
Neighborhood
Northwest Initiative
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$8,390
Amenities
full basements
Building Details
Building Size
2,500 SF
Year Built
1947
Buildings
1
Stories
1
Units
2
Tenancy
Multi
Listing Agency:
BHHS Kee Realty
(248) 651-1200
Listed By:
Frank Jajou · License #6501440153
(248) 709-6696
Source:
Alleyrealestatesales
Added: Nov 2
Last Checked: Nov 4 at 6:04AM
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 BHHS Kee Realty
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Investment Insights
Based on property information with market context.
This two-unit storefront property totals 2,500 square feet and was built in 1947. Both commercial units have full basements, and the left-side space is occupied by Boost Mobile.
The property is at 3318-3320 S Cedar St in Lansing, Michigan, and is zoned Commercial.
The property is at 3318-3320 S Cedar St in Lansing, Michigan, and is zoned Commercial.
Key Highlights
- Two commercial units in a 2,500‑square‑foot building
- Full basements in both units
- Left‑side unit occupied by Boost Mobile
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,628
Cap Rate
8.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$452,560
$452.6K
Cap Rate 7%
$323,257
$323.3K
Cap Rate 9%
$251,422
$251.4K
Market Conditions
NOI Build-Up for 2,500 SF
Gross rent
$37.5K $15.00/SF
− Vacancy
−$5.2K −$2.07/SF
EGI
$32.3K $12.93/SF
− OpEx
−$9.7K −$3.88/SF
NOI
$22.6K $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%
$452,560
Cap Rate 7%
$323,257
Cap Rate 9%
$251,422
Alternative Uses
Best Use
Retail
$323.3K
$282.9K – $377.1K
NOI $22,628 @ 7.0% cap · market cap 8.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$514.6K
$450.3K – $600.4K
NOI $36,022 @ 7.0% cap · market cap 12.91%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
194
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48910, MI
33,702
Population
17,119
Households
2
Avg Household Size
35
Median Age
32%
College-Educated
91%
High-School Grad
14.2 sq mi
ZIP Area
2,373
Density / Sq Mi
$52,154
Median Household Income
$36,643
Median Earnings
$1,003
Median Rent
$117,600
Median Home Value
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Frequently Asked Questions
What type of property is this?
Storefront property - Two commercial units include full basements, with one currently occupied by Boost Mobile.
Where is this storefront property located?
The property is located at 3318-3320 S Cedar St Lansing, MI.
What is the asking price?
The asking price for this property is $279,000.
What are key features of this property?
This property features: Two commercial units in a 2,500‑square‑foot building; Full basements in both units; Left‑side unit occupied by Boost Mobile
