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    5400 Pennsylvania Ave Lansing, MI 48911

    Sponsored
    For Sale
    $935,000

    8,450 SF, 8.5% Cap Rate, NNN Lease

    Property size:
    8,450 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional investment opportunity presents a fully occupied, 8,450-square-foot medical office and storefront building situated on a 1.06-acre lot in Lansing, Michigan. The property boasts a strong 8.5% capitalization rate and features two tenants: NovaCare Rehabilitation and PKSA Karate, both under triple-net (NNN) leases with full CAM reimbursement. NovaCare, a subsidiary of Select Medical, has occupied the space since 1985, demonstrating long-term commitment. PKSA Karate recently expanded their space in 2021, further solidifying their presence. The leases have a remaining term of 4.6 years and include rent bumps. The property benefits from a high-traffic location on South Pennsylvania Avenue, experiencing nearly 14,000 vehicles per day, and serves a dense population of 70,000 people within a three-mile radius. Built in 1985, the single-story building is zoned commercial and offers a compelling investment with a current net operating income (NOI) of $79,455. The average rent per square foot is $9.40. Lease options are available. This fee-simple ownership opportunity provides a stable and attractive return on investment. The property's address is 5400 South Pennsylvania Avenue, Lansing, MI 48911, and the APN is 33-01-05-03-151-074. The asking price is $935,000, representing a price per square foot of $110.65.

    Property Features for 5400 Pennsylvania Ave

    General Information

    Property type
    Individual retail properties
    Square Feet
    8,450 SF
    Lot Size
    46,174 SF

    Building Details

    Year Built
    1985
    Buildings
    1
    Stories
    1
    Units
    2
    Property Profile Location Intelligence

    Current Use by Public Records

    NovaCare Rehabilitation - Penn ... Physical Therapy Clinic PKSA Karate Lansing Martial Arts School Siiri Kochanski, OT Occupational Therapist Leslee Cothran Speech Pathologist Sheila Littleton Physical Therapist

    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
    -84.538934
    Latitude
    42.679058

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    FAQs

    What type of property is this?
    Individual retail property - 8,450 SF, 8.5% Cap Rate, NNN Lease
    Where is this individual retail property located?
    The property is located at 5400 Pennsylvania Ave Lansing, MI.
    What is the asking price?
    The asking price for this property is $935,000.
    Request Owner's contact information
    5400 Pennsylvania Ave Lansing, MI 48911
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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
    5400 Pennsylvania Ave Lansing, MI 48911
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