5920 S Cedar St, Lansing, MI 48911
Retail space with frontage and billboard income near Meijer.
- Added:
- Apr 20, 2023
- Days on Market:
- 1174
- Last Refresh:
- Jul 5 at 6:18 am
Property Features for 5920 S Cedar St
General Information
- Standard status
- Active
- Size
- 1,200 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1963
Listing office Colliers - Grand Rapids, Michigan (517) 662-3529
Listing date Apr 20, 2023
Source Crexi
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 Colliers - Grand Rapids, Michigan
HighLights
- 42.7 feet of frontage on Cedar St.
- Billboard income of $1,980 annually.
- Billboard lease in place through July 21, 2029.
- Located just north of Miller Rd. intersection.
- Across the street from Meijer.
- Built in 1963.
Overview
Local Financial Insights For Retail
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 | $18.0k | $15.00 |
| − Vacancy | −$2.5k | −$2.07 |
| EGI | $15.5k | $12.93 |
| − OpEx | −$4.7k | −$3.88 |
| NOI | $10.9k | $9.05 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Lansing
- County
- Eaton
- State
- Michigan
- Longitude
- -84.545245
- Latitude
- 42.670768
