Office Condominium with Nine
For Sale
$420,000
3448 E Lake Lansing Rd, East Lansing, MI 48823
Professionally maintained office condominium with reception, kitchen, elevator access, and a rear deck overlooking a wildlife preserve.
Property Size2,594 SF
Price / SF$161.91
Days on Market135
Property Features for 3448 E Lake Lansing Rd
General Information
Standard status
Active
Size
2,594 SF
Elevators
Yes
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$5,862
Listing Agency:
eXp Realty - Cedar Branch
Listed By:
Jennifer Worthington
(517) 798-4035
Source:
Exprealty
Added: Jun 3
Changed: Oct 8
Last Checked: Oct 14 at 11:48PM
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 eXp Realty - Cedar Branch
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Investment Insights
Based on property information with market context.
This 2,487-square-foot office condominium, completed in 2005, provides a structured professional setting with nine private offices, a reception area, kitchen, elevator access, expansive windows, and a rear deck. The configuration is suited to professional services, medical, counseling, financial, legal, and executive office operations.
The property is located at 3448 E Lake Lansing Rd in East Lansing, with access to major thoroughfares, shopping, dining, MSU, and the greater Lansing market. Views toward a wildlife preserve add a quiet natural setting to the office environment while maintaining convenient commercial access.
The property is located at 3448 E Lake Lansing Rd in East Lansing, with access to major thoroughfares, shopping, dining, MSU, and the greater Lansing market. Views toward a wildlife preserve add a quiet natural setting to the office environment while maintaining convenient commercial access.
Key Highlights
- 2,487‑square‑foot office condominium completed in 2005
- Nine private offices with reception area and kitchen
- Elevator access and expansive windows
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,880
Cap Rate
5.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$437,600
$437.6K
Cap Rate 7%
$312,571
$312.6K
Cap Rate 9%
$243,111
$243.1K
Market Conditions
NOI Build-Up for 2,594 SF
Gross rent
$37.4K $14.40/SF
− Vacancy
−$8.2K −$3.15/SF
EGI
$29.2K $11.25/SF
− OpEx
−$7.3K −$2.81/SF
NOI
$21.9K $8.43/SF
Area
Ingham County, MI
Vacancy
21.90%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$437,600
Cap Rate 7%
$312,571
Cap Rate 9%
$243,111
Alternative Uses
Best Use
Office B
$312.6K
$273.5K – $364.7K
NOI $21,880 @ 7.0% cap · market cap 5.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$416.8K
$364.7K – $486.2K
NOI $29,173 @ 7.0% cap · market cap 6.95%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
482
Businesses Nearby
Explore this area
Business Placement
Demographics for 48823, MI
51,793
Population
23,757
Households
2.2
Avg Household Size
28
Median Age
64%
College-Educated
98%
High-School Grad
23.6 sq mi
ZIP Area
2,195
Density / Sq Mi
$50,837
Median Household Income
$19,837
Median Earnings
$1,127
Median Rent
$261,100
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
Frequently Asked Questions
What type of property is this?
Office units - Professionally maintained office condominium with reception, kitchen, elevator access, and a rear deck overlooking a wildlife preserve.
Where is this office units located?
The property is located at 3448 E Lake Lansing Rd East Lansing, MI.
What is the asking price?
The asking price for this property is $420,000.
What are key features of this property?
This property features: 2,487‑square‑foot office condominium completed in 2005; Nine private offices with reception area and kitchen; Elevator access and expansive windows
