NNN Auto Glass
New
For Sale
$422,300
930 E Michigan Ave, Lansing, MI 48912
A corporate lease includes tenant responsibility for routine upkeep, utilities, insurance and real estate taxes.
Property Size2,973 SF
Price / SF$142.05
Days on Market3
Property Features for 930 E Michigan Ave
General Information
Standard status
Active
Size
2,973 SF
Class
C
Total Parking Spaces
10
Property subtype
Investment, Retail
Zoning
MX-2
Site & Location
Neighborhood
Green Oaks Neighborhood Association
Tenancy & Operations
Tenant in Place
Yes
In-Place Lease Type
NNN
Current Tenants
Safelite Auto Glass, Henderson Glass
Real Estate Included
Yes
Additional Details
Cap Rate
8%
Automotive Uses
auto repair
Building Details
Building Size
2,973 SF
Year Built
1972
Stories
1
Listing Agency:
RE/MAX COMMERCIAL GROUP
Listed By:
Matthew Wisniewski · License #6501360426
(517) 321-2800
Source:
Cpix.resimplifi
Added: Oct 21
Changed: Oct 23
Last Checked: Oct 23 at 5:58PM
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 RE/MAX COMMERCIAL GROUP
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The 2,973-square-foot commercial property was built in 1972 and is occupied by Henderson Glass under a sublease from Safelite Auto Glass. The corporate lease runs through August 2028, includes scheduled annual rent increases and provides a five-year renewal option. The tenant handles day-to-day maintenance, interior repairs, HVAC, utilities, snow removal, landscaping, property insurance and real estate taxes. MX-2 zoning applies, with glass-related commercial operations and other uses permitted under Lansing ordinances.
At 930 E Michigan Ave in Lansing, the property is directly across from University of Michigan Health - Sparrow and within walking distance of the Michigan State Capitol.
At 930 E Michigan Ave in Lansing, the property is directly across from University of Michigan Health - Sparrow and within walking distance of the Michigan State Capitol.
Key Highlights
- 2,973‑square‑foot commercial property built in 1972
- Henderson Glass occupies the property under a sublease from Safelite Auto Glass
- Lease term extends through August 2028, with annual rent increases and a five‑year renewal option
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,909
Cap Rate
6.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$538,180
$538.2K
Cap Rate 7%
$384,414
$384.4K
Cap Rate 9%
$298,989
$299.0K
Market Conditions
NOI Build-Up for 2,973 SF
Gross rent
$44.6K $15.00/SF
− Vacancy
−$6.2K −$2.07/SF
EGI
$38.4K $12.93/SF
− OpEx
−$11.5K −$3.88/SF
NOI
$26.9K $9.05/SF
Area
Lansing, MI
Vacancy
13.80%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$538,180
Cap Rate 7%
$384,414
Cap Rate 9%
$298,989
Alternative Uses
Best Use
Retail
$384.4K
$336.4K – $448.5K
NOI $26,909 @ 7.0% cap · market cap 6.37%
Second Best
Industrial
$276.0K
$241.5K – $322.0K
NOI $19,317 @ 7.0% cap · market cap 4.57%
Theoretical Best
Office A
$612.0K
$535.5K – $714.0K
NOI $42,838 @ 7.0% cap · market cap 10.14%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Contact the owner directly
Get the owner's phone numbers and email
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,958
Businesses Nearby
Explore this area
Business Placement
Demographics for 48912, MI
17,155
Population
9,064
Households
1.9
Avg Household Size
34
Median Age
40%
College-Educated
91%
High-School Grad
5.2 sq mi
ZIP Area
3,299
Density / Sq Mi
$53,072
Median Household Income
$34,598
Median Earnings
$1,037
Median Rent
$139,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Frequently Asked Questions
What type of property is this?
NNN property - A corporate lease includes tenant responsibility for routine upkeep, utilities, insurance and real estate taxes.
Where is this nnn property located?
The property is located at 930 E Michigan Ave Lansing, MI.
What is the asking price?
The asking price for this property is $422,300.
What are key features of this property?
This property features: 2,973‑square‑foot commercial property built in 1972; Henderson Glass occupies the property under a sublease from Safelite Auto Glass; Lease term extends through August 2028, with annual rent increases and a five‑year renewal option
