Building Details

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Listing Agency: NAI Mid-Michigan

Listed By: Jeffrey Branch · License #6506049327 Show Phone

Source: Crexi

Added: Feb 5 Changed: Oct 15 Last Checked: Oct 16 at 8:45AM

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Investment Insights

Based on property information with market context.

This industrial property at 816 E Howe Ave in Lansing occupies a corner lot and provides a practical base for industrial operations. The building includes three-phase 480V electrical service, an overhead door, and a security camera system. IND-1 zoning offers flexible industrial land-use classification, while the roof was replaced in 2022.

Built in 1957, the property is positioned on Lansing’s north side near US27 and surrounding businesses. Its corner-lot placement, updated roof, electrical capacity, and security equipment create a straightforward setup for an industrial owner or occupant.

Key Highlights

• IND‑1 zoning with flexible industrial classification
• Three‑phase 480V electric service
• New roof installed in 2022

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$15,594

Cap Rate

7.84%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$311,880 $311.9K

Cap Rate 7%

$222,771 $222.8K

Cap Rate 9%

$173,267 $173.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,400 SF

Gross rent

$24.5K $10.20/SF

− Vacancy

−$2.2K −$0.92/SF

EGI

$22.3K $9.28/SF

− OpEx

−$6.7K −$2.78/SF

NOI

$15.6K $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%

$311,880

Cap Rate 7%

$222,771

Cap Rate 9%

$173,267

Alternative Uses

Best Use

Warehouse

$276.7K

$242.1K – $322.8K (±1% cap)

NOI $19,367 @ 7.0% cap · market cap 9.73%

Second Best

Industrial

$222.8K

$194.9K – $259.9K (±1% cap)

NOI $15,594 @ 7.0% cap · market cap 7.84%

Theoretical Best

Office A

$494.0K

$432.3K – $576.4K (±1% cap)

NOI $34,581 @ 7.0% cap · market cap 17.38%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

L&N Industrial Supply ... Factory

Suggested Use

Top Pick Real Estate Agency Law Firm Dental Office Hair Salon Nail Salon Spa & Massage Center

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

Lease Details

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

272

Businesses Nearby

Explore this area Business Placement

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

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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Frequently Asked Questions

What type of property is this?

Industrial property - IND-1 zoning, three-phase power, and a 2022 roof update support industrial operations.

Where is this industrial property located?

The property is located at 816 E Howe Ave Lansing, MI.

What is the asking price?

The asking price for this property is $199,000.

What are key features of this property?

This property features: IND‑1 zoning with flexible industrial classification; Three‑phase 480V electric service; New roof installed in 2022