Mixed-Use Property with
For Sale
Contact for pricing
401-407 E Grand River, Lansing, MI 48906
Three-story property combines hospitality accommodations, street-level retail, and on-site management in Lansing’s Old Town district.
Property Size8,555 SF
Days on Market145
Property Features for 401-407 E Grand River
General Information
Standard status
Active
Size
8,555 SF
Property subtype
Retail, Hospitality, Mixed Use, Multifamily
Net Operating Income
$66,579
Financials
Asking Price
$750,000
Cap Rate
8.8%
Site & Location
Corner Location
Yes
Highway Access
Yes
Road Access
Yes
Amenities
24-hour on-site management
Building Details
Year Built
1913
Buildings
1
Stories
3
Construction
brick
Tenancy
Multi
Listing Agency:
Income Property Organization
Listed By:
Al Beachum, J.D. · License #MI 6501347778
Source:
Crexi
Added: Apr 10
Changed: Aug 31
Last Checked: Aug 30 at 5:24AM
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 Income Property Organization
Investment Insights
Based on property information with market context.
Built in 1913, this three-story mixed-use property at 401-407 E Grand River Ave. contains approximately 8,555 square feet, a full basement, and a brick exterior. The first floor provides 3,049 square feet of retail space, while the second and third floors contain twenty-seven single rooms with shared bathrooms and showers. A live-in manager supports 24-hour on-site management. The retail suite is occupied by Thailand Restaurant under an NNN lease, with the tenant paying utilities and its pro rata share of property taxes, building insurance, and common area maintenance expenses. Residential utilities are paid by the landlord.
The property is positioned at E. Grand River Ave. and Center Street in Old Town, a historic Lansing district with galleries, restaurants, boutiques, specialty shops, festivals, and farmers markets. Lansing Community College is 1 mile away, and Michigan State University is 3½ miles from the property. The location also provides access to I-96, I-496, I-69, M-43, and US-127.
The property is positioned at E. Grand River Ave. and Center Street in Old Town, a historic Lansing district with galleries, restaurants, boutiques, specialty shops, festivals, and farmers markets. Lansing Community College is 1 mile away, and Michigan State University is 3½ miles from the property. The location also provides access to I-96, I-496, I-69, M-43, and US-127.
Key Highlights
- Twenty‑seven single rooms across the second and third floors
- 3,049 ft.2 first‑floor retail suite leased to Thailand Restaurant under an NNN lease
- Approximately 8,555 ft.2 three‑story building constructed in 1913
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
845
Businesses Nearby
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.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Three-story property combines hospitality accommodations, street-level retail, and on-site management in Lansing’s Old Town district.
Where is this mixed-use property located?
The property is located at 401-407 E Grand River Lansing, MI.
What are key features of this property?
This property features: Twenty‑seven single rooms across the second and third floors; 3,049 ft.2 first‑floor retail suite leased to Thailand Restaurant under an NNN lease; Approximately 8,555 ft.2 three‑story building constructed in 1913
