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Property profile & analytics

511 Washington Ave Lansing, MI 48933-2301

  • Office buildings
  • 10,665 SF
  • 0.54 lot acres
OFF-MARKET
Value Estimation
$415,000
Last Sale
Sep 19, 2024
Location Intelligence
Property ID
US43-0920883
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

Current Use by Public Records

  • Principal Financial Group / Insurance Broker
  • Centennial Investment Planning / Banking And Finance / Insurance Agency
  • All of God’s Children / Non-Profit Organization

Property Details for 511 Washington Ave

Year built
1950
Lot size
0.54 lot acres
Property size
10,665 SF
Zone code
G-1 BUS
Property type
Office buildings
APN
33-01-01-16-455-031
APU
33010116455031

Description

This historic, two-story, 10,665-square-foot office building in downtown Lansing, Michigan, presents a unique investment opportunity. Built in 1950 and renovated in 2001, this Class C building (APN 33-01-01-16-455-031) is currently vacant and offers a compelling price per square foot of $112.05. The property features a spacious first floor with a reception area, restrooms, mailroom, multiple private offices of varying sizes, several conference rooms with ample natural light, 22 individual work stations, and a large training/presentation room. An original staircase leads to the second floor, which includes a large break room and additional private offices or conference rooms overlooking the first floor. The building offers convenient surface-level parking and a covered back area suitable for outdoor use. Its prime downtown location provides easy access to the Capitol, other government buildings, local businesses, and I-496. This free-standing building, formerly a transportation station, offers a blend of historic charm and modern functionality. The asking price is $1,195,000.

Value Estimation

by Realmo proprietary methodology Last update: July 3, 2025
  • AI approach

    CAP return
    Estimation
    Estimation
    $395,000
  • CAP approach

    CAP return
    Estimation
    6%
    $420,000
    6.5%
    $485,000
    7%
    $505,000
  • Comparable approach

    Method
    Estimation
    Relative Method
    $485,000
    Geo Method
    $435,000
  • Alternative Use

    Use
    Estimation
    Distribution
    $350,000
    Retail
    $420,000
    Mixed-Use
    $360,000
    Hospitality
    $420,000
    Educational
    $415,000
    Residential Income
    $405,000
    Energy
    $475,000
    Income-Based Land
    $370,000
    Food Service
    $345,000

Location Insight

  • Map
  • Local Demand
City
Lansing
County
Ingham
State
Michigan
Longitude
-84.5518
Latitude
42.7282
CBSA code
29620
CBSA name
LANSING-EAST LANSING, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2020
$22,890
$117,200
$290,600
$407,800
-
$234,400
$581,200
$815,600
More about this property
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