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Upgraded Industrial Warehouse with Expansion Lot
For Sale
$525,000

720 Terminal Road, Lansing, MI 48906

6,048 sq ft industrial warehouse with expansion potential in Lansing.

Property Size6,048 SF
Price / SF$86.81
Days on Market376

Property Features for 720 Terminal Road

General Information

Standard status Active
Size 6,048 SF
Class C
Total Parking Spaces 6
Property subtype Industrial
Zoning HI

Building Details

Building Size 6,048 SF
Year Built 1972
Listing Agency: RE/MAX
Listed By: Matthew Wisniewski · License #6501360426
Source: Remaxcommercial
Added: Sep 25, 2025 Changed: Oct 2 Last Checked: Oct 5 at 2:59PM

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 RE/MAX

Investment Insights

Based on property information with market context.

This upgraded 6,048 sq ft industrial warehouse is zoned for light industrial use and was previously conditionally approved by the City of Lansing for licensed marijuana cultivation, processing, and microbusiness operations. The property includes an adjacent 0.61-acre lot, creating a total area of 0.922 acres and offering potential for expansion, additional parking, storage, or new development. Constructed in 1972 and extensively upgraded from 2017 to 2022, the facility features specialized infrastructure, including a 775 sq ft vegetative room with a 3-ton HVAC system with UV filtration and ten ceiling receptacles for grow lights. There are also multiple flower rooms: Room #1 (361 sq ft), Rooms #2 & #3 (800 sq ft each), and Room #4 (828 sq ft). A 338 sq ft drying/processing room is located on an upstairs mezzanine and includes a 3-ton AC, molecular ion air disinfection, and secure keypad entry. The common area (900–1,200+ sq ft) is equipped with a reverse osmosis water hookup, nutrient mixing station, double basin sink, storage racks, and polyurethane foam insulation. A new front addition provides a secure employee locker area and security office with smart-scan steel doors and a 3-ton HVAC system. The property is equipped with a security system featuring 38 HD cameras with night vision and AI tracking, burglar alarms, exterior speakers, and a mobile app for remote monitoring. Additional amenities include a 480 sq ft shed with 16 ft ceilings and a 64 sq ft ADA-compliant restroom. Located in Lansing’s industrial hub, this property is suitable for cannabis businesses or other light industrial ventures.

Key Highlights

  • Previously conditionally approved for licensed marijuana cultivation, processing, and microbusiness operations by the City of Lansing.
  • Move‑in ready for cannabis cultivation or adaptable for other light industrial uses, featuring state‑of‑the‑art infrastructure and extensive upgrades from 2017‑2022.
  • Includes an adjacent 0.61‑acre lot, providing a total of 0.922 acres for expansion, additional parking, storage, or new development.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr
$39,296
Cap Rate
7.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$785,920 $785.9K
Cap Rate 7%
$561,371 $561.4K
Cap Rate 9%
$436,622 $436.6K
Market Conditions
NOI Build-Up for 6,048 SF
Gross rent
$61.7K $10.20/SF
− Vacancy
−$5.6K −$0.92/SF
EGI
$56.1K $9.28/SF
− OpEx
−$16.8K −$2.78/SF
NOI
$39.3K $6.50/SF
Area
Lansing, MI
Vacancy
9.00%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$785,920
Cap Rate 7%
$561,371
Cap Rate 9%
$436,622

Alternative Uses

Best Use
Warehouse
$697.2K
$610.1K – $813.4K (±1% cap)
NOI $48,804 @ 7.0% cap · market cap 9.30%
Second Best
Industrial
$561.4K
$491.2K – $654.9K (±1% cap)
NOI $39,296 @ 7.0% cap · market cap 7.48%
Theoretical Best
Office A
$1.24M
$1.09M – $1.45M (±1% cap)
NOI $87,145 @ 7.0% cap · market cap 16.60%
Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Cannabis Properties

Suggested Use

Top Pick Real Estate Agency Law Firm Dental Office Spa & Massage Center Restaurant HVAC Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

200
Businesses Nearby
Balanced
Demand for This Use

Demographics for 48906, MI

25,674
Population
12,180
Households
2.1
Avg Household Size
37
Median Age
29%
College-Educated
91%
High-School Grad
32.5 sq mi
ZIP Area
790
Density / Sq Mi
$61,533
Median Household Income
$38,551
Median Earnings
$1,033
Median Rent
$128,600
Median Home Value
Check the figures for this property Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019
4.9% 2020
3.6% 2021
3.1% 2022
4.6% 2023
5% 2024
4.9% 2025
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Similar Off Market Nearby

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Frequently Asked Questions

What type of property is this?
Warehouse - 6,048 sq ft industrial warehouse with expansion potential in Lansing.
Where is this warehouse located?
The property is located at 720 Terminal Road Lansing, MI.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Previously conditionally approved for licensed marijuana cultivation, processing, and microbusiness operations by the City of Lansing.; Move‑in ready for cannabis cultivation or adaptable for other light industrial uses, featuring state‑of‑the‑art infrastructure and extensive upgrades from 2017‑2022.; Includes an adjacent 0.61‑acre lot, providing a total of 0.922 acres for expansion, additional parking, storage, or new development.
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