Free-Standing Retail & Car Wash
5124 S Martin Luther King Jr Blvd Lansing, MI 48911
5124 S Martin Luther King Jr Blvd, Lansing, MI, 48911
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For Sale
Contact for pricing
Free-standing building with front retail space and a rear auto wash garage, with 122' frontage along Martin Luther King Jr. Blvd.
Property Size2,567 SF
Price / SF$77.91
Days on Market141
Property Features for 5124 S Martin Luther King Jr Blvd
General Information
- Standard status
- Active
- Size
- 2,567 SF
- Property subtype
- Retail
Listing agency
Altitude Commercial Real Estate
(248) 781-8076
Listed by
George Abro · License #MI 6502432561
Source
Crexi
Added: Mar 3 Updated: Jul 21 at 5:23AM Checked: Jul 21 at 5:23AM
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 Altitude Commercial Real Estate
Investment Insights
Based on property information with market context.
This free-standing commercial building combines retail space at the front with an auto wash garage at the rear. The property includes 1,631 SF of versatile retail space and a 936 SF auto wash garage, creating a functional split layout for mixed-use operational plans.
The building is positioned just south of Jolly Road and offers 122' of frontage on Martin Luther King Jr. Blvd, supporting strong street-level presence for passing traffic.
Offered for sale, the asset is configured for buyers seeking a retail component alongside on-site car wash operations within a single, dedicated structure.
The building is positioned just south of Jolly Road and offers 122' of frontage on Martin Luther King Jr. Blvd, supporting strong street-level presence for passing traffic.
Offered for sale, the asset is configured for buyers seeking a retail component alongside on-site car wash operations within a single, dedicated structure.
Key Highlights
- 2,567 SF free‑standing building with front retail space (1,631 SF) and a rear auto wash garage (936 SF)
- 122' of frontage on Martin Luther King Jr. Blvd for strong street exposure
- Front retail space plus a dedicated rear auto wash garage layout supports retail and service uses
Local Financial Insights For Industrial
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $26.2k | $10.20 |
| − Vacancy | −$2.4k | −$0.92 |
| EGI | $23.8k | $9.28 |
| − OpEx | −$7.1k | −$2.78 |
| NOI | $16.7k | $6.50 |
2,567 SF · lease $10.20/SF/yr · vacancy 9.00% · expense 30.00%
Alternative Uses
Best Use
Specialty Retail
$392.1K
$343.1K – $457.4K
NOI $27,446 @ 7.0% cap · market cap 13.72%
Second Best
Retail
$331.9K
$290.4K – $387.2K
NOI $23,234 @ 7.0% cap · market cap 11.62%
Theoretical Best
Office A
$528.4K
$462.4K – $616.5K
NOI $36,988 @ 7.0% cap · market cap 18.49%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Plush1978.INC Barbershop
Barber Shop
MLK AUTO SALES
Car Dealership
MAJESTIC AUTO CARE
Car Wash
WoodWorkz Lawn Care ...
Landscaping
Similar For Sale Nearby
FAQs
What type of property is this?
Retail space - Free-standing building with front retail space and a rear auto wash garage, with 122' frontage along Martin Luther King Jr. Blvd.
Where is this retail space located?
The property is located at 5124 S Martin Luther King Jr Blvd Lansing, MI.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: 2,567 SF free‑standing building with front retail space (1,631 SF) and a rear auto wash garage (936 SF); 122' of frontage on Martin Luther King Jr. Blvd for strong street exposure; Front retail space plus a dedicated rear auto wash garage layout supports retail and service uses
