Industrial Building with 480V
For Sale
Contact for pricing
816 E Howe Ave, Lansing, MI 48906
IND-1 zoning, three-phase power, and a 2022 roof update support industrial operations.
Property Size2,400 SF
Price / SF$87.08
Days on Market209
Property Features for 816 E Howe Ave
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Industrial
Zoning
IND-1
Warehouse & Industrial
Voltage
480 V
Three-Phase Power
Yes
Additional Details
Highway Access
Yes
Amenities
Security camera system
Building Details
Buildings
1
Stories
1
Listing Agency:
NAI Mid-Michigan
(517) 487-9222
Listed By:
Jeffrey Branch · License #6506049327
Source:
Crexi
Added: Feb 5
Changed: Aug 30
Last Checked: Aug 30 at 11:11PM
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 NAI Mid-Michigan
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.
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 = 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
$15,594
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
7.46%
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%
$311,880
$311.9K
Cap Rate 7%
$222,771
$222.8K
Cap Rate 9%
$173,267
$173.3K
Market Conditions
NOI Build-Up for 2,400 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
$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 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%
$311,880
Cap Rate 7%
$222,771
Cap Rate 9%
$173,267
Alternative Uses
Best Use
Warehouse
$276.7K
$242.1K – $322.8K
NOI $19,367 @ 7.0% cap · market cap 9.27%
Second Best
Industrial
$222.8K
$194.9K – $259.9K
NOI $15,594 @ 7.0% cap · market cap 7.46%
Theoretical Best
Office A
$494.0K
$432.3K – $576.4K
NOI $34,581 @ 7.0% cap · market cap 16.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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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 $209,000.
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
