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    300 Lake Lansing Rd East Lansing, MI 48823

    Sponsored
    For Lease
    $15 SF/Yr ($11,000 /Mo)

    Prime Office Building, High Visibility

    Lot size:
    8,800 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    403
    This exceptional 8,800 square foot single-story office building, situated on a 0.96-acre lot, presents a compelling investment opportunity. Built in 1998 and classified as Class B, the property boasts a highly desirable location on Lake Lansing Road, between Abbot and Harrison Roads, ensuring excellent visibility and accessibility. The building features 32 parking spaces, a significant advantage for tenants and visitors. The "B4 Office" zoning allows for a variety of professional uses. The property's prominent position offers excellent monument signage opportunities, maximizing brand exposure. With a total of 8,800 square feet, the space is currently configured for multiple tenants, offering flexibility for various business needs. The address is 300 W. Lake Lansing, and the APN is 33-20-01-01-402-014. This is an ideal location for businesses seeking high impact visibility and convenient access. The property's size and ample parking make it suitable for a range of professional services. The single-story design offers easy navigation and accessibility for all tenants and clients. This is a rare opportunity to acquire a well-located, established office building with significant potential.

    Property Features for 300 Lake Lansing Rd

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    8,800 SF
    Class
    B
    Total Rate
    11000

    Building Details

    Year Built
    1998
    Stories
    1

    Unit(s) available at that property

    Space
    C
    Size
    3,071 SF
    Rate per SF
    $15

    We can help!

    Listing Contact
    Eric Rosekrans
    Eric Rosekrans

    Learn more

    Property Insight Report

    HighLights

    • 8,800 square foot office building on a 0.96‑acre lot.
    • Single‑story, Class B building constructed in 1998.
    • Features 32 parking spaces.
    • Located on Lake Lansing Road between Abbot and Harrison Roads, offering excellent monument signage and high visibility.
    • Multiple tenants currently occupy the space.
    • Zoned B4 Office.
    Property Profile Location Intelligence

    Current Use by Public Records

    Gallagher Insurance, Risk ... Insurance Agency Olivia Somsel Greater ... Real Estate Agency Premier Homes Teams ... Real Estate Agency Maxx Title Agency Title Company Kathy Dehshiri, Re/Max ... Real Estate Agent

    Suggested Use

    Law Firm Realty agency Restaurant Spa & Massage Hair Salon Dental Office 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
    East Lansing
    County
    Ingham
    State
    Michigan
    Longitude
    -84.48653761
    Latitude
    42.75939148

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    FAQs

    What type of property is this?
    Office Property / Space - Prime Office Building, High Visibility
    Where is this office property / space located?
    The property is located at 300 Lake Lansing Rd East Lansing, MI.
    What is the lease rate?
    The lease rate is $15 SF/Yr.
    What are key features of this property?
    This property features: 8,800 square foot office building on a 0.96-acre lot.; Single-story, Class B building constructed in 1998.; Features 32 parking spaces.
    Request Owner's contact information
    300 Lake Lansing Rd East Lansing, MI 48823
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    East Lansing, MI 48823
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    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
    300 Lake Lansing Rd East Lansing, MI 48823
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    We can help!
    Listing Contact
    Eric Rosekrans
    Eric Rosekrans
    Real Estate License ID: MI
    Learn more
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