Freestanding Storefront with
For Sale
$298,000
401 E Mount Hope Avenue, Lansing, MI 48910
Freestanding commercial space with private parking, existing bathrooms, and flexibility for a new retail or service concept.
Property Size2,220 SF
Price / SF$134.23
Days on Market352
Property Features for 401 E Mount Hope Avenue
General Information
Standard status
Active
Size
2,220 SF
Property Condition
Severity
Repairs Needed
Evidence
needs updating
Site & Location
Neighborhood
Fabulous Acres
Taxes and HOA fees
Annual Taxes
$6,782
Amenities
large private parking lot
two in-place bathrooms
Building Details
Buildings
1
Listing Agency:
RE/MAX Real Estate Professionals
(517) 321-8255
Listed By:
Shirley Boucha · License #6501368878
(517) 214-4185
Source:
Exprealty
Added: Nov 6, 2025
Changed: Oct 7
Last Checked: Oct 23 at 8:30AM
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 RE/MAX Real Estate Professionals
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This freestanding storefront contains 2,220 square feet and was previously used as a restaurant. The building includes two bathrooms and a private parking lot, while the interior requires updating for its next use. Its open condition allows a new owner to rework the space around a retail, office, food-service, or other commercial concept.
Located at 401 E Mount Hope Avenue in Lansing, the property sits at a major intersection described as high traffic, providing exposure from passing vehicles. The existing parking and bathroom improvements offer a starting point for repositioning the building, subject to the buyer’s planned build-out and applicable approvals.
Located at 401 E Mount Hope Avenue in Lansing, the property sits at a major intersection described as high traffic, providing exposure from passing vehicles. The existing parking and bathroom improvements offer a starting point for repositioning the building, subject to the buyer’s planned build-out and applicable approvals.
Key Highlights
- 2,220‑square‑foot freestanding commercial building
- Former restaurant property requiring interior updates
- Private parking lot included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,736
Cap Rate
7.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$474,720
$474.7K
Cap Rate 7%
$339,086
$339.1K
Cap Rate 9%
$263,733
$263.7K
Market Conditions
NOI Build-Up for 2,220 SF
Gross rent
$36.0K $16.20/SF
− Vacancy
−$4.3K −$1.94/SF
EGI
$31.6K $14.26/SF
− OpEx
−$7.9K −$3.56/SF
NOI
$23.7K $10.69/SF
Area
Lansing, MI
Vacancy
12.00%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$474,720
Cap Rate 7%
$339,086
Cap Rate 9%
$263,733
Alternative Uses
Best Use
Specialty Retail
$339.1K
$296.7K – $395.6K
NOI $23,736 @ 7.0% cap · market cap 7.97%
Second Best
Retail
$287.0K
$251.2K – $334.9K
NOI $20,093 @ 7.0% cap · market cap 6.74%
Theoretical Best
Office A
$457.0K
$399.9K – $533.1K
NOI $31,988 @ 7.0% cap · market cap 10.73%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
852
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Similar Off Market Nearby
- Foliage Design Systems — 1124 E Mt Hope Ave, Lansing, MI 48910
- Van Peenen's Flowers — 1766 S Pennsylvania Ave, Lansing, MI 48910
Frequently Asked Questions
What type of property is this?
Storefront property - Freestanding commercial space with private parking, existing bathrooms, and flexibility for a new retail or service concept.
Where is this storefront property located?
The property is located at 401 E Mount Hope Avenue Lansing, MI.
What is the asking price?
The asking price for this property is $298,000.
What are key features of this property?
This property features: 2,220‑square‑foot freestanding commercial building; Former restaurant property requiring interior updates; Private parking lot included
