Climate-Controlled Light Manufacturing
For Sale
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428 N Cedar St, Lansing, MI 48912
Block light manufacturing building with secured entry, small office, and climate-controlled production and storage areas.
Property Size5,902 SF
Lot Size0.50 Acres
Price / SF$0.00
Days on Market239
Property Features for 428 N Cedar St
General Information
Standard status
Active
Size
5,902 SF
Lot size
0.50 Acres
Property subtype
Industrial
Zoning
DT-2
Site & Location
Neighborhood
Eastside Neighborhood Organization
Amenities
secured entryway
functional 100 SF office
dedicated cultivation room
kitchen and production area
multiple interior walk-in coolers
climate controlled
Building Details
Building Size
5,902 SF
Listing Agency:
Martin Commercial Properties
Listed By:
Christopher T. Miller
(517) 242-7561
Source:
Cpix.resimplifi
Added: Feb 27
Changed: Oct 12
Last Checked: Oct 23 at 3:37AM
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 Martin Commercial Properties
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Investment Insights
Based on property information with market context.
This light manufacturing facility features a versatile block structure of approximately 5,662 square feet on a 0.50-acre site. The interior includes a secured entryway leading to a functional office of about 100 square feet. The layout also includes a dedicated room suitable for cultivation, along with a kitchen and production area equipped with a large oven. Multiple interior walk-in coolers are currently used for dry storage, and the entire building is climate controlled.
Located in Lansing, the property is described as being near downtown and steps away from Jackson Field, supporting convenient access to the area’s active commercial environment.
The facility is currently operated as a cannabis cultivation and processing site, but the property is also positioned as a redevelopment opportunity that may suit a variety of uses, subject to applicable approvals.
Located in Lansing, the property is described as being near downtown and steps away from Jackson Field, supporting convenient access to the area’s active commercial environment.
The facility is currently operated as a cannabis cultivation and processing site, but the property is also positioned as a redevelopment opportunity that may suit a variety of uses, subject to applicable approvals.
Key Highlights
- 5,662 SF block light manufacturing facility on 0.50 acres, steps from Jackson Field and near downtown
- Currently a cannabis cultivation and processing facility, or a redevelopment opportunity for other uses
- Secured entryway with a 100 SF office
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,348
Suggested Prices Based on Cap Rates
Cap Rate 5%
$766,960
$767.0K
Cap Rate 7%
$547,829
$547.8K
Cap Rate 9%
$426,089
$426.1K
Market Conditions
NOI Build-Up for 5,902 SF
Gross rent
$60.2K $10.20/SF
− Vacancy
−$5.4K −$0.92/SF
EGI
$54.8K $9.28/SF
− OpEx
−$16.4K −$2.78/SF
NOI
$38.3K $6.50/SF
Area
Lansing, MI
Vacancy
9.00%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$766,960
Cap Rate 7%
$547,829
Cap Rate 9%
$426,089
Alternative Uses
Best Use
Industrial
$547.8K
$479.4K – $639.1K
NOI $38,348 @ 7.0% cap · market cap 319,566.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.21M
$1.06M – $1.42M
NOI $85,041 @ 7.0% cap · market cap 708,675.00%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
3,015
Businesses Nearby
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Business Placement
Demographics for 48912, MI
17,155
Population
9,064
Households
1.9
Avg Household Size
34
Median Age
40%
College-Educated
91%
High-School Grad
5.2 sq mi
ZIP Area
3,299
Density / Sq Mi
$53,072
Median Household Income
$34,598
Median Earnings
$1,037
Median Rent
$139,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Cannabis property - Block light manufacturing building with secured entry, small office, and climate-controlled production and storage areas.
Where is this cannabis property located?
The property is located at 428 N Cedar St Lansing, MI.
What are key features of this property?
This property features: 5,662 SF block light manufacturing facility on 0.50 acres, steps from Jackson Field and near downtown; Currently a cannabis cultivation and processing facility, or a redevelopment opportunity for other uses; Secured entryway with a 100 SF office
