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    415 Grand River Ave East Lansing, MI 48823

    Sponsored
    For Sale
    $375,000

    East Lansing medical office building, $375,000

    Property size:
    2,890 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 2,890 square foot medical office building, located at 415 W Grand River Ave in East Lansing, Michigan, presents a unique investment opportunity. Built in 1939 and situated on a 0.1-acre lot, this Class B property boasts a charming and updated interior. The building features ten individual offices, four lavatory bathrooms, and on-site parking for five vehicles. Currently operating at 20% occupancy, the asking price is $375,000, translating to $129.76 per square foot. The property is zoned RM-32, offering flexibility for various medical uses. The two-story building has undergone soundproofing improvements, enhancing its functionality and appeal. Its convenient location near Michigan State University provides excellent access to a large pool of potential patients and employees. The property's long history as a professional office space speaks to its enduring value and suitability for continued use in the medical field. The Ingham County location, with its address 415 W Grand River Ave, East Lansing, MI 48823, ensures easy access to major transportation routes and local amenities. The property's APN is 33-20-01-13-237-006. Broker co-op is available.

    Property Features for 415 Grand River Ave

    General Information

    Property type
    Medical offices
    Square Feet
    2,890 SF
    Class
    B
    Lot Size
    4,356 SF

    Building Details

    Year Built
    1939
    Buildings
    1
    Stories
    2

    HighLights

    • 10 private offices, 4 restrooms, & 5 onsite parking spaces.
    • Updated, charming office buildout with soundproofing.
    • Zoned RM‑32, near MSU.
    Property Profile Location Intelligence

    Current Use by Public Records

    Rockwell David G ... Psychologist Wright Barry M ... Psychologist Princewell Onwere, DO Psychiatrist Heavenrich James L Social Worker Cynthia A. Hockett, PHD Psychologist

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    East Lansing
    County
    Ingham
    State
    Michigan
    Longitude
    -84.489883973486
    Latitude
    42.736860021761

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    FAQs

    What type of property is this?
    Medical office - East Lansing medical office building, $375,000
    Where is this medical office located?
    The property is located at 415 Grand River Ave East Lansing, MI.
    What is the asking price?
    The asking price for this property is $375,000.
    What are key features of this property?
    This property features: 10 private offices, 4 restrooms, & 5 onsite parking spaces.; Updated, charming office buildout with soundproofing.; Zoned RM-32, near MSU.
    Request Owner's contact information
    415 Grand River Ave East Lansing, MI 48823
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    East Lansing, MI 48823
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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
    415 Grand River Ave East Lansing, MI 48823
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