Add Listing
    For Sale
    • 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

    1115 Pennsylvania Ave Lansing, MI 48912

    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing
    Property size:
    49,700 SF

    Property Features for 1115 Pennsylvania Ave

    General Information

    Property type
    Distribution properties
    Square Feet
    49,700 SF
    Class
    B
    Lot Size
    91,912 SF

    We can help!

    Listing Contact
    Christopher Miller, Sior
    Christopher Miller, Sior

    Listing Agency: Martin Commercial Properties Listing Agent: Christopher Miller, Sior

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

    Learn more

    Property Insight Report
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Munch's Supply Co. Big Box & Wholesale Store Willow Health Center Medical Clinic River Oak Community ... Medical Clinic Dr. Jevon Mcfadden Physician Jennifer Ludwig Physician

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Lansing
    County
    Ingham
    State
    Michigan
    Longitude
    -84.536717
    Latitude
    42.721789

    Nearby Similar for Sale

    • New
      $199,000
      2,875 SF

      Multi-Suite Commercial Property in Lansing

      Multi-suite commercial property with income potential in established Lansing corridor.
      800 W Willow St, Lansing, MI 48906
      View Details
    • New
      $199,000
      0.36 Acres

      Multi-Suite Commercial Property in Lansing

      Multi-suite commercial property with income potential in established Lansing corridor.
      800 West Willow St, Lansing, MI 48906
      View Details
    • $80,500
      2,358 SF

      Commercial Building in Fairview, MI

      Versatile commercial building suitable for various business ventures.
      1608 N Abbe Rd, Fairview, MI 48621
      View Details
    • $225,000
      1,759 SF

      Turnkey Auto Shop Opportunity

      Stand-alone commercial building ready for immediate operation as auto shop.
      226 W Cesar E Chavez Ave, Lansing, MI 48906
      View Details
    • $80,500
      Pending

      Versatile Commercial Building in Fairview

      In-town commercial building with versatile space and endless possibilities.
      1608 N Abbe Rd, Fairview, MI 48621
      View Details
    • $652,000
      14,388 SF

      Historic REO Town Marketplace Building

      Unique 14,388 SF building in Lansing's REO Town.
      1023 S Washington Ave, Lansing, MI 48910
      View Details
    • $199,999
      2,580 SF

      Lansing Commercial Building on Corner

      Commercial building on a busy corner in Lansing, Michigan.
      1405 E Chavez Ave, Lansing, MI 48906
      View Details
    • $77,000
      1,680 SF

      Old Town Lansing Church Property

      Church property in Old Town Lansing, ideal for various ventures.
      1406 Ballard St, Lansing, MI 48906
      View Details
    • $99,999
      1,288 SF

      Lansing Commercial Property Near Old Town

      Income property with high exposure near Old Town Lansing.
      229 W Cesar E Chavez Ave, Lansing, MI 48906
      View Details
    • $1,950,000
      10,200 SF

      Corporate Headquarters Near Airport

      Two-story office headquarters with hangar, near Capital Region Airport.
      3900 Capital City Blvd, Lansing, MI 48906
      View Details
    • New
      $339,900
      4,631 SF

      Remodeled Firehouse with Living Units

      Historic firehouse converted to office and residential units.
      230 Bingham St, Lansing, MI 48912
      View Details
    • $225,000
      1,400 SF

      Lansing Retail/Industrial Opportunity

      Commercial/Industrial property in Lansing, MI, suitable for various business ventures.
      538 N Cedar St, Lansing, MI 48911
      View Details

    FAQs

    Where is this distribution property located?
    The property is located at 1115 Pennsylvania Ave Lansing, MI.
    What is the asking price?
    The asking price for this property is $1,600,000.
    (517) 242-7561 Call to check price and availability
    Request Owner's contact information
    1115 Pennsylvania Ave Lansing, MI 48912
    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.
    1115 Pennsylvania Ave
    Lansing, MI 48912
    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
    1115 Pennsylvania Ave Lansing, MI 48912
    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 Christopher Miller, Sior
    Christopher Miller, Sior
    (517) 242-7561 (517) 351-2200 (517) 319-9244
    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!