Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Professional Office Building Near Frandor Title is generated by Realmo AI

    416 N Homer Street, Lansing, MI 48912

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Single-story office building with suites available near Frandor area.

    Type:Office
    Property size:
    6,162 SF
    Price / SF:
    $0.00/SF
    Added:
    Jan 27, 2026
    Days on Market:
    115
    Last Refresh:
    Apr 5 at 11:05 pm

    Property Features for 416 N Homer Street

    General Information

    Standard status
    Active
    Size
    6,162 SF
    Property subtype
    Office

    Properties For Sale

    at 416 N Homer Street Contact us

    We can help!

    Listing Contact
    Steve Slater

    Listing agent Steve Slater

    Listing office

    Listing date Jan 27, 2026

    Source Naiglobal

    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 Steve Slater

    HighLights

    • Great location by the Frandor area
    • Full service rental rate
    • Free parking for tenants and visitors
    • Three suites ready for occupancy, offering immediate availability
    • Can be combined to create a larger, customized space
    • Single story professional office building

    Overview

    This single-story professional office building, known as the "Alpha Building", is located north of Michigan Avenue on N Homer Street, near the Frandor area. Three suites are available for occupancy and can be combined. Suite 107 offers 1,274 square feet. The rental rate is full service, and free parking is available.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Capital Bankruptcy Law Firm B. Craig Smith ... Physician Jessica Perry Foster Care Service LPRK Products Big Box & Wholesale Store Laura Freeman Marriage Or Relationship Counselor

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lansing
    County
    Eaton
    State
    Michigan
    Longitude
    -84.5093
    Latitude
    42.7379

    Nearby Similar for Sale

    • $490,000
      12,440 SF

      Move-in Ready Lansing Church Facility

      12,440 sq ft church with sanctuary, classrooms, and parking.
      1819 W Willow Street, Lansing, MI 48915
      View Details
    • $199,900
      2,070 SF

      Downtown Lansing Commercial Building

      Well-maintained commercial building in revitalizing downtown Lansing.
      500 Erie Street, Lansing, MI 48912
      View Details
    • $130,000
      1,439 SF

      Versatile Commercial Building in Lansing

      Commercial building suitable for office or professional use with parking.
      4108 S Cedar Street, Lansing, MI 48910
      View Details
    • $339,900
      4,631 SF

      Remodeled Firehouse with Living Units

      Historic firehouse converted to office and residential units.
      230 Bingham Street, Lansing, MI 48912
      View Details
    • $279,000
      2,500 SF

      Lansing Commercial Income Property

      Two-unit commercial property with high traffic location in Lansing, MI.
      3318-3320 S Cedar St, Lansing, MI 48910
      View Details
    • $285,000
      2,727 SF

      Mixed-Use Building in Old Town

      Historic mixed-use property with office and residential units.
      1031 N Washington Avenue, Lansing, MI 48906
      View Details
    • $1,950,000
      10,200 SF

      Corporate Headquarters Near Airport

      Two-story office headquarters with hangar, near Capital Region Airport.
      3900 Capital City Boulevard, Lansing, MI 48906
      View Details
    • $299,000
      1,380 SF

      Lansing Retail Banking Facility

      Freestanding 1,380 SF building on 0.87 acres for sale.
      5101 N Grand River Avenue, Lansing, MI 48906
      View Details
    • $119,900
      800 SF

      Lansing Commercial Garage with Office

      Garage with office space on a large lot.
      16120 Old U.s. 27, Lansing, MI 48906
      View Details
    • $225,000
      8,000 SF

      Lansing Church for Sle

      818 N Jenison Ave, Lansing, MI 48915
      View Details
    • $569,000
      5,886 SF

      Lansing Mixed-Use Investment Opportunity

      Fully occupied, renovated mixed-use building near UM Health–Sparrow Hospital.
      1456 East Michigan Avenue | Lansing, MI 48912
      View Details
    • $1,400,000
      31,900 SF

      Two-Story Lansing Commercial Property

      31,900 SF two-story building in the heart of Lansing.
      525 N Pennsylvania Avenue, Lansing, MI 48912
      View Details

    FAQs

    What type of property is this?
    Office units - Single-story office building with suites available near Frandor area.
    Where is this office units located?
    The property is located at 416 N Homer Street Lansing, MI.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: Great location by the Frandor area; Full service rental rate; Free parking for tenants and visitors
    (517) 487-9222
    We can help!
    Listing Contact
    Steve Slater
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    416 N Homer Street, Lansing, MI 48912
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!