Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    702 Lake Lansing Rd East Lansing, MI 48823

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    5,000 SF Medical Office, High Visibility

    Lot size:
    5,000 SF

    Property Features for 702 Lake Lansing Rd

    General Information

    Property type
    Medical offices
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    5,000 SF

    Spaces For Lease

    at 702 Lake Lansing Rd, East Lansing, MI 48823 Contact us
    Unit

    $20 /Mo

    Size
    5,000 SF
    Contact us

    We can help!

    Listing Contact
    Eric Rosekrans
    Eric Rosekrans

    Listing Agency: Martin Commercial Properties Listing Agent: Eric Rosekrans

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional 5,000-square-foot medical office space is situated in a prime East Lansing location at 702 W Lake Lansing Rd, 48823, Ingham County, Michigan. The first-floor space offers excellent window exposure and is ready for tenant build-out to meet specific needs. An improvement allowance is available, along with professional space planning assistance. The building itself, constructed in 1991, totals 18,252 square feet and sits on a 4.86-acre lot. The property boasts ample parking with approximately 62 on-site spaces and a 45 KW generator ensuring full building operation. Its high-profile location on Lake Lansing Road near Harrison Road provides excellent visibility and accessibility. The single-tenant occupancy building offers a unique opportunity for medical professionals seeking a well-equipped and conveniently located space. This is a fantastic opportunity to establish or expand your medical practice in a thriving East Lansing community.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Lansing Ophthalmology: Bueche ... Physician Burnett David OD Physician Lansing Ophthalmology: Doshi ... Ophthalmologist Lansing Ophthalmology: Biscette ... Ophthalmologist Lansing Ophthalmology: Mackersie ... Ophthalmologist

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    East Lansing
    County
    Ingham
    State
    Michigan
    Longitude
    -84.492203784066
    Latitude
    42.75956145019

    Nearby Similar for Lease

    • Sponsored
      Contact for pricing

      MI, East Lansing – Lake Lansing

      Discover many ways to work your way in Democracy Plaza
      1760 Abbey Rd, East Lansing, MI 48823
      View Details
    • Contact for pricing

      MI, East Lansing - Grand River center

      Discover many ways to work your way in Democracy Plaza
      333 Grand River Ave, East Lansing, MI 48823
      View Details
    • $10 SF/Yr
      6,534 SF

      East Lansing Office Space Available

      Office space in the heart of downtown East Lansing.
      231 M. A. C. Ave Unit, East Lansing, MI 48823
      View Details
    • $10 SF/Yr
      10,670 SF

      East Lansing Office Space Available

      Affordable office space directly across from MSU campus.
      507-1/2 E Grand Riv Ave Unit, East Lansing, MI 48823
      View Details
    • $15 SF/Yr
      7,500 SF

      East Lansing Office Suites Available

      Office suites for rent in East Lansing's business district.
      315 W Lake Lansing Rd, East Lansing, MI 48823
      View Details
    • $18 SF/Yr

      Retail Space Near Michigan State

      End-cap retail space near Michigan State University campus.
      920 Trowbridge Rd, East Lansing, MI 48823
      View Details
    • Contact for pricing
      1,174 SF

      Retail Space Near MSU Campus

      Retail space in a 3-tenant building across from MSU.
      1105 East Grand River Ave, East Lansing, MI 48823
      View Details
    • Contact for pricing
      7,000 SF

      Retail Building Near MSU Campus

      Freestanding retail building with high foot traffic near MSU.
      1109 East Grand River Ave, East Lansing, MI 48823
      View Details
    • Contact for pricing
      5,261 SF

      East Lansing Office Space Available

      Second floor office space with easy highway access.
      1595 W Lake Lansing Rd, East Lansing, MI 48823
      View Details
    • Contact for pricing
      2,598 SF

      Retail Space Near Michigan State

      Retail space with drive-up window near Michigan State University.
      1034 Trowbridge Rd, East Lansing, MI 48823
      View Details
    • $1,550 /Mo
      1,072 SF

      Move-in Ready Rental Near Campus

      Updated rental home near campus, shopping, and community pool.
      6165 Innkeepers Ct, East Lansing, MI 48823
      View Details
    • Contact for pricing
      22,722 SF

      East Lansing Office Space Available

      22,722 SF office space for rent in East Lansing.
      830 W Lake Lansing Rd, East Lansing, MI 48823
      View Details

    FAQs

    What type of property is this?
    Medical office - 5,000 SF Medical Office, High Visibility
    Where is this medical office located?
    The property is located at 702 Lake Lansing Rd East Lansing, MI.
    What is the lease rate?
    The lease rate is $20 SF/Yr.
    (517) 351-2200 Call to check price and availability
    Request Owner's contact information
    702 Lake Lansing Rd East Lansing, MI 48823
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    702 Lake Lansing Rd
    East Lansing, MI 48823
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    702 Lake Lansing Rd East Lansing, MI 48823
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Eric Rosekrans
    Eric Rosekrans
    Real Estate License ID: 6501153826
    (517) 351-2200 (517) 319-9209
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!