Move-In Ready Professional Office
For Sale
$1,195,000
822 Centennial Way, Lansing, MI 48917
Built in 1998 office suites with an open lobby, atrium, and on-site parking, suited for healthcare or general office use.
Property Size9,500 SF
Price / SF$125.79
Days on Market247
Property Features for 822 Centennial Way
General Information
Standard status
Active
Size
9,500 SF
Property subtype
Multi Tenant Office
Lease Type
Modified Gross
Additional Details
Highway Access
Yes
Amenities
landscaped exterior
atrium lobby
common-area restrooms
Building Details
Year Built
1998
Tenancy
Multi
Listing Agency:
Martin Commercial Properties
Listed By:
Eric Rosekrans, CCIM, CPM
(517) 351-2200
Source:
Thebrokerlist
Added: Feb 18
Changed: Oct 13
Last Checked: Oct 23 at 3:18AM
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 Martin Commercial Properties
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Investment Insights
Based on property information with market context.
Capitol Commerce Center offers move-in ready professional office suites for sale, with available space ranging from 3,818 to 9,500 SF. The building, constructed in 1998, includes a large atrium and an open lobby, with convenient common-area restrooms. The exterior is landscaped and the property provides ample on-site parking, with rates noted at $15.00 to $17.00/SF on a modified gross basis.
Located at 822 Centennial Way in Lansing, the property is described as having easy access to major interstates, including being about 0.5 miles from I-496. It is also positioned minutes from the Saginaw retail corridor and the State Capitol.
Current occupants referenced include Rosati, Schultz, Joppich & Amtsbuechler and Edward Jones, reflecting an established professional tenant mix that may support both healthcare and general office use.
Located at 822 Centennial Way in Lansing, the property is described as having easy access to major interstates, including being about 0.5 miles from I-496. It is also positioned minutes from the Saginaw retail corridor and the State Capitol.
Current occupants referenced include Rosati, Schultz, Joppich & Amtsbuechler and Edward Jones, reflecting an established professional tenant mix that may support both healthcare and general office use.
Key Highlights
- 822 Centennial Way professional office suites built in 1998
- Large atrium and open lobby with convenient common‑area restrooms
- Space available: 3,818–9,500 SF for flexible suite sizing
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$100,685
Cap Rate
8.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,013,700
$2.0M
Cap Rate 7%
$1,438,357
$1.4M
Cap Rate 9%
$1,118,722
$1.1M
Market Conditions
NOI Build-Up for 9,500 SF
Gross rent
$182.4K $19.20/SF
− Vacancy
−$14.6K −$1.54/SF
EGI
$167.8K $17.66/SF
− OpEx
−$67.1K −$7.07/SF
NOI
$100.7K $10.60/SF
Area
Lansing, MI
Vacancy
8.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,013,700
Cap Rate 7%
$1,438,357
Cap Rate 9%
$1,118,722
Alternative Uses
Best Use
Healthcare Medical
$1.44M
$1.26M – $1.68M
NOI $100,685 @ 7.0% cap · market cap 8.43%
Second Best
Office B
$1.31M
$1.15M – $1.53M
NOI $91,656 @ 7.0% cap · market cap 7.67%
Theoretical Best
Office A
$1.96M
$1.71M – $2.28M
NOI $136,885 @ 7.0% cap · market cap 11.45%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
431
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office unit - Built in 1998 office suites with an open lobby, atrium, and on-site parking, suited for healthcare or general office use.
Where is this office unit located?
The property is located at 822 Centennial Way Lansing, MI.
What is the asking price?
The asking price for this property is $1,195,000.
What are key features of this property?
This property features: 822 Centennial Way professional office suites built in 1998; Large atrium and open lobby with convenient common‑area restrooms; Space available: 3,818–9,500 SF for flexible suite sizing
