Corner
500 ERIE STREET LANSING MI 48912, Lansing, MI 48912
For Sale
Contact for pricing
A single retail unit occupies a corner site on Erie Street in Lansing.
Property Size1,400 SF
Price / SF$142.79
Days on Market56
Property Features for 500 ERIE STREET LANSING MI 48912
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Corner Location
Building Details
Year Built
Listing Agency:
NAI Mid-Michigan
Listed By:
Scott Adams · License MI #6501281330
(517) 881-5308
Source:
Crexi
Added: Sep 16
Changed: Nov 9
Last Checked: Nov 10 at 5:43AM
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.
This Lansing storefront contains one retail unit and measures 1,400 SF. Built in 1989, the building occupies a corner site on Erie Street. The traffic count exceeds 20k.
Key Highlights
- 1,400 SF storefront building
- Single retail unit
- Built in 1989
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,671
Cap Rate
6.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$253,420
$253.4K
Cap Rate 7%
$181,014
$181.0K
Cap Rate 9%
$140,789
$140.8K
Market Conditions
NOI Build-Up for 1,400 SF
Gross rent
$21.0K $15.00/SF
− Vacancy
−$2.9K −$2.07/SF
EGI
$18.1K $12.93/SF
− OpEx
−$5.4K −$3.88/SF
NOI
$12.7K $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%
$253,420
Cap Rate 7%
$181,014
Cap Rate 9%
$140,789
Alternative Uses
Best Use
Retail
$181.0K
$158.4K – $211.2K
NOI $12,671 @ 7.0% cap · market cap 6.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$288.2K
$252.2K – $336.2K
NOI $20,172 @ 7.0% cap · market cap 10.09%
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
2,970
Businesses Nearby
Under-served
Demand for This Use
Explore this area
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
$139,900
Median Home Value
Market
Average Price Trend$/SF for Storefront properties in Lansing, MI
Properties on Market for Storefront properties in Lansing
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Frequently Asked Questions
What type of property is this?
Storefront property - A single retail unit occupies a corner site on Erie Street in Lansing.
Where is this storefront property located?
The property is located at 500 ERIE STREET LANSING MI 48912 Lansing, MI.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: 1,400 SF storefront building; Single retail unit; Built in 1989
