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    1433 Michigan Ave Lansing, MI 48912

    Sponsored
    For Sale
    $599,000

    Prime Medical Office, Redevelopment Opportunity

    Property size:
    5,747 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This 5,747 square foot medical office building, situated on a 0.56-acre lot in Lansing, Michigan, presents a compelling investment opportunity. Currently vacant, the property offers significant redevelopment potential or immediate occupancy. The building, constructed in 1983, features a central atrium with a decorative fountain, serving as an additional waiting area. The layout comprises four suites: two 2,800 square foot suites (A & B), each including an x-ray room and exam/lab rooms, and two 1,400 square foot suites (C & D). Suites C and D are easily combinable. The property boasts 36 parking spaces, convenient access from Michigan Avenue and a rear alleyway to Custer Avenue, ensuring high visibility and accessibility. The F-1 COM zoning allows for a variety of uses. Existing building signage offers additional marketing potential. The property's location near Sparrow Hospital, Fabiano Candies, and Soup Spoon Cafe provides excellent visibility and proximity to key amenities. The asking price is $599,000, translating to $104.23 per square foot of net rentable space (5,600 sq ft). This property is an ideal owner-occupier building or a promising redevelopment project in a thriving Lansing location. The APN is 33-01-01-15-259-122.

    Property Features for 1433 Michigan Ave

    General Information

    Property type
    Medical offices
    Square Feet
    5,747 SF
    Class
    C
    Lot Size
    24,394 SF

    Building Details

    Year Built
    1983
    Buildings
    1

    HighLights

    • $599,000 asking price for a 5,600 SF net rentable medical office building.
    • Vacant, 5,747 total square foot Class C building on a 0.56‑acre lot in Lansing, MI.
    • Modified lease type, 36 parking spaces, and built in 1983.
    • Located at 1433 E Michigan Ave, Lansing, MI 48912, near Sparrow Hospital.
    • Features multiple suites with exam/lab rooms and x‑ray capabilities; easily adaptable for redevelopment.
    Property Profile Location Intelligence

    Current Use by Public Records

    Cardiology Group of Lansing Medical Clinic ABC Ob-Gyn Care Women'S Health Clinic Stephanie Fleming Obstetrician-Gynecologist Emergency Dental Care Emergency Dental Service Dr. Haresh Jani Internist

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Lansing
    County
    Ingham
    State
    Michigan
    Longitude
    -84.529823748074
    Latitude
    42.733540998582

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    FAQs

    What type of property is this?
    Medical office - Prime Medical Office, Redevelopment Opportunity
    Where is this medical office located?
    The property is located at 1433 Michigan Ave Lansing, MI.
    What is the asking price?
    The asking price for this property is $599,000.
    What are key features of this property?
    This property features: $599,000 asking price for a 5,600 SF net rentable medical office building.; Vacant, 5,747 total square foot Class C building on a 0.56-acre lot in Lansing, MI.; Modified lease type, 36 parking spaces, and built in 1983.
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    1433 Michigan Ave Lansing, MI 48912
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    Realmo Value Estimation

    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.

    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.

    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
    1433 Michigan Ave Lansing, MI 48912
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