Retail Space For
For Sale
Contact for pricing
5705 S Cedar St, Lansing, MI 48911
Retail space available with a 6.26% CAP rate.
Property Size3,750 SF
Price / SF$286.67
Days on Market157
Property Features for 5705 S Cedar St
General Information
Standard status
Active
Size
3,750 SF
Total Parking Spaces
64
Property subtype
Retail
Zoning
J & G-2
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$67,245
Building Details
Year Built
1996
Year Renovated
2016
Tenancy
Single
Listing Agency:
Renz & Renz Investment & Commercial Brokerage
(408) 846-1031
Listed By:
George Renz · License #CA 00854816
Source:
Crexi
Added: Mar 19
Changed: Aug 8
Last Checked: Aug 22 at 6:35AM
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 Renz & Renz Investment & Commercial Brokerage
Investment Insights
Based on property information with market context.
This retail space offers 3,750 square feet of area. The property is being offered for sale and has a capitalization rate of 6.26%.
Key Highlights
- 6.26% CAP Rate
- Retail Property
- 3,750 SqFt
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$33,941
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.16%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$678,820
$678.8K
Cap Rate 7%
$484,871
$484.9K
Cap Rate 9%
$377,122
$377.1K
Market Conditions
NOI Build-Up for 3,750 SF
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.
Gross rent
$56.3K $15.00/SF
− Vacancy
−$7.8K −$2.07/SF
EGI
$48.5K $12.93/SF
− OpEx
−$14.5K −$3.88/SF
NOI
$33.9K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$678,820
Cap Rate 7%
$484,871
Cap Rate 9%
$377,122
Alternative Uses
Best Use
Retail
$484.9K
$424.3K – $565.7K
NOI $33,941 @ 7.0% cap · market cap 3.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$771.9K
$675.4K – $900.6K
NOI $54,033 @ 7.0% cap · market cap 5.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
724
Businesses Nearby
Explore this area
Business Placement
Demographics for 48911, MI
40,566
Population
18,069
Households
2.2
Avg Household Size
36
Median Age
26%
College-Educated
90%
High-School Grad
17.3 sq mi
ZIP Area
2,345
Density / Sq Mi
$54,882
Median Household Income
$36,245
Median Earnings
$933
Median Rent
$136,900
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Retail space available with a 6.26% CAP rate.
Where is this retail space located?
The property is located at 5705 S Cedar St Lansing, MI.
What is the asking price?
The asking price for this property is $1,075,000.
What are key features of this property?
This property features: 6.26% CAP Rate; Retail Property; 3,750 SqFt
