Granger Mall Retail
For Sale
Contact for pricing
408-426 Elmwood Dr, Lansing, MI 48917
Retail/office space in Granger Mall with immediate occupancy.
Property Size11,120 SF
Price / SF$0.00
Days on Market341
Property Features for 408-426 Elmwood Dr
General Information
Standard status
Active
Size
11,120 SF
Property subtype
Retail
Lease Term
NNN
Building Details
Building Size
11,120 SF
Properties For Sale
at 408-426 Elmwood Dr Contact usSuite 410
Size
3,300 SF
Term
Negotiable
Suite 418
Size
1,000 SF
Term
Negotiable
Suite 422
Size
1,430 SF
Term
Negotiable
Suite 426
Size
1,900 SF
Term
Negotiable
Listing Agency:
NAI Mid-Michigan
Listed By:
Amanda Hopper · License #6501413452
(517) 927-9626
Source:
Naiglobal
Added: Nov 21, 2025
Changed: Oct 25
Last Checked: Oct 28 at 5:42AM
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 NAI Mid-Michigan
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.
A suite is available for immediate occupancy in a Granger mall. The property is located on Elmwood, south of Saginaw Street, on the east side of the road, and across from Meijer, Lansing Mall, and other major retailers. It offers exposure on a highly traveled avenue. The property is professionally managed and features a new facade, along with on-site parking in both the front and back. The property is suitable for retail or office businesses. The property size is 11120 square feet.
Key Highlights
- Immediate occupancy available
- Great exposure on highly traveled avenue
- On site parking in front and back
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$100,647
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,012,940
$2.0M
Cap Rate 7%
$1,437,814
$1.4M
Cap Rate 9%
$1,118,300
$1.1M
Market Conditions
NOI Build-Up for 11,120 SF
Gross rent
$166.8K $15.00/SF
− Vacancy
−$23.0K −$2.07/SF
EGI
$143.8K $12.93/SF
− OpEx
−$43.1K −$3.88/SF
NOI
$100.6K $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%
$2,012,940
Cap Rate 7%
$1,437,814
Cap Rate 9%
$1,118,300
Alternative Uses
Best Use
Retail
$1.44M
$1.26M – $1.68M
NOI $100,647 @ 7.0% cap · market cap 838,725.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.29M
$2.00M – $2.67M
NOI $160,227 @ 7.0% cap · market cap 1,335,225.00%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
454
Businesses Nearby
Explore this area
Business Placement
Demographics for 48917, MI
32,679
Population
15,975
Households
2
Avg Household Size
41
Median Age
40%
College-Educated
94%
High-School Grad
24.0 sq mi
ZIP Area
1,362
Density / Sq Mi
$73,259
Median Household Income
$47,739
Median Earnings
$1,085
Median Rent
$211,300
Median Home Value
Frequently Asked Questions
What type of property is this?
Shopping mall - Retail/office space in Granger Mall with immediate occupancy.
Where is this shopping mall located?
The property is located at 408-426 Elmwood Dr Lansing, MI.
What are key features of this property?
This property features: Immediate occupancy available; Great exposure on highly traveled avenue; On site parking in front and back
