Ground-Leased Retail/Restaurant
For Sale
$2,562,183
6524 E Saginaw Hwy, Lansing, MI 48917
Well-maintained 6,893 SF ground-leased building built in 2003, zoned C, with newly extended 15-year lease.
Property Size6,893 SF
Price / SF$371.71
Days on Market117
Property Features for 6524 E Saginaw Hwy
General Information
Standard status
Active
Size
6,893 SF
Property subtype
Retail
Zoning
AG2
Building Details
Building Size
6,893 SF
Year Built
2003
Listing Agency:
Fortis Net Lease
Listed By:
Robert Bender · License #6501323470
(248) 254-3406
Source:
Cpix.resimplifi
Added: Jun 16
Changed: Sep 14
Last Checked: Oct 9 at 4:12PM
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 Fortis Net Lease
Investment Insights
Based on property information with market context.
Fortis Net Lease presents a well-maintained 6,893 SF ground-leased retail/restaurant building constructed in 2003. The property has been issued a 15-year lease extension, supporting continuity for an operator or investor aligned with a long-term ground lease structure. The building is described as having a versatile layout and modern infrastructure, designed to support retail and restaurant concepts within the existing improvements.
Located at 6524 W Saginaw Hwy in Lansing, Michigan, the site is positioned along West Saginaw Highway, providing straightforward access for customers and deliveries. The property is identified as zoned C, which should be reviewed for specific retail and restaurant uses during due diligence.
This offering may be well-suited for tenants, buyers, and brokers seeking a ground-leased retail/restaurant asset with established improvements and recently extended lease continuity. The combination of a maintained building, an existing versatile configuration, and a C zoning designation can support a range of retail and restaurant operators evaluating a committed, long-duration occupancy structure. For transaction guidance, confirm remaining lease details, permitted uses, and any applicable ground lease terms with the leasing representative.
Located at 6524 W Saginaw Hwy in Lansing, Michigan, the site is positioned along West Saginaw Highway, providing straightforward access for customers and deliveries. The property is identified as zoned C, which should be reviewed for specific retail and restaurant uses during due diligence.
This offering may be well-suited for tenants, buyers, and brokers seeking a ground-leased retail/restaurant asset with established improvements and recently extended lease continuity. The combination of a maintained building, an existing versatile configuration, and a C zoning designation can support a range of retail and restaurant operators evaluating a committed, long-duration occupancy structure. For transaction guidance, confirm remaining lease details, permitted uses, and any applicable ground lease terms with the leasing representative.
Key Highlights
- Well‑maintained 6,893 SF building constructed in 2003 on a low rent ground lease
- 15‑year lease extension just received
- Zoned C
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$73,700
Cap Rate
2.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,474,000
$1.5M
Cap Rate 7%
$1,052,857
$1.1M
Cap Rate 9%
$818,889
$818.9K
Market Conditions
NOI Build-Up for 6,893 SF
Gross rent
$111.7K $16.20/SF
− Vacancy
−$13.4K −$1.94/SF
EGI
$98.3K $14.26/SF
− OpEx
−$24.6K −$3.56/SF
NOI
$73.7K $10.69/SF
Area
Lansing, MI
Vacancy
12.00%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,474,000
Cap Rate 7%
$1,052,857
Cap Rate 9%
$818,889
Alternative Uses
Best Use
Specialty Retail
$1.05M
$921.3K – $1.23M
NOI $73,700 @ 7.0% cap · market cap 2.88%
Second Best
Retail
$891.3K
$779.9K – $1.04M
NOI $62,389 @ 7.0% cap · market cap 2.43%
Theoretical Best
Office A
$1.42M
$1.24M – $1.66M
NOI $99,321 @ 7.0% cap · market cap 3.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
357
Businesses Nearby
Explore this area
Business Placement
Demographics for 48917, MI
32,679
Population
15,975
Households
2
Avg Household Size
41
Median Age
40%
College-Educated
94%
High-School Grad
24.0 sq mi
ZIP Area
1,362
Density / Sq Mi
$73,259
Median Household Income
$47,739
Median Earnings
$1,085
Median Rent
$211,300
Median Home Value
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Frequently Asked Questions
What type of property is this?
Retail space - Well-maintained 6,893 SF ground-leased building built in 2003, zoned C, with newly extended 15-year lease.
Where is this retail space located?
The property is located at 6524 E Saginaw Hwy Lansing, MI.
What is the asking price?
The asking price for this property is $2,562,183.
What are key features of this property?
This property features: Well‑maintained 6,893 SF building constructed in 2003 on a low rent ground lease; 15‑year lease extension just received; Zoned C
