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South Lansing Retail/Event Space

134 E Edgewood Blvd, Lansing, MI 48911

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For Sale

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17,700 SF building in South Lansing's retail corridor.

Type:Retail, Special Purpose

Property size:

17,700 SF

Price / SF:

$112/SF

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and status of this listing

Samantha Le

Real Estate License ID: 6501447479

HighLights

Fully‑entitled recreational cannabis facility with option to purchase license.
17,700 SF building with large open areas suitable for various uses.
Ample parking available.
Located in a busy retail corridor in South Lansing.
Less than one mile from the I‑96 interchange.
Close proximity to major retailers and entertainment.

For Sale

Contact for pricing

17,700 SF building in South Lansing's retail corridor.

Type:Retail, Special Purpose

Property size:

17,700 SF

Price / SF:

$112/SF

Added:: Jul 23, 2024
Days on Market:: 714
Last Refresh:: Jul 4 at 10:56 pm

Property Features for 134 E Edgewood Blvd

General Information

Standard status: Active
Size: 17,700 SF
Property subtype: Retail, Special Purpose

Building Details

Year Built: 2005

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Contact an agent

Samantha Le

Listing office Martin Commercial Properties

Listing date Jul 23, 2024

Source Crexi

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 Martin Commercial Properties

HighLights

Fully‑entitled recreational cannabis facility with option to purchase license.
17,700 SF building with large open areas suitable for various uses.
Ample parking available.
Located in a busy retail corridor in South Lansing.
Less than one mile from the I‑96 interchange.
Close proximity to major retailers and entertainment.

Overview

This 17,700 SF building is situated in the heart of South Lansing’s busy retail corridor, less than one mile from the I-96 interchange and in close proximity to Meijer, Target, Menards, and Celebration Cinema. The property, formerly a gym, features large open areas and ample parking, making it suitable for various uses such as a fitness center, an events venue, or a retail store. It could also be used as an auto repair shop. The building is a fully-entitled recreational cannabis facility, and there is an option to purchase the license.

Local Financial Insights For Retail

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$265.5k	$15.00
− Vacancy	−$36.6k	−$2.07
EGI	$228.9k	$12.93
− OpEx	−$68.7k	−$3.88
NOI	$160.2k	$9.05

17,700 SF · lease $15.00/SF/yr · vacancy 13.80% · expense 30.00%

Alternative Uses

Best Use

Retail

$2.29M

$2.00M – $2.67M (±1% cap)

NOI $160,203 @ 7.0% cap · market cap 8.01%

Second Best

Industrial

$1.64M

$1.44M – $1.92M (±1% cap)

NOI $115,004 @ 7.0% cap · market cap 5.75%

Theoretical Best

Office A

$3.64M

$3.19M – $4.25M (±1% cap)

NOI $255,038 @ 7.0% cap · market cap 12.75%

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

Property Profile Location Intelligence

Current Use by Public Records

Edgewood Wellness (Bike/Boat/Book/etc) Store Best Buds Specialty Food Shop SameDay-FlowerDelivery Florist

Suggested Use

Similar Places Nearby

Capital Area Soccer — 6025 curry ln, lansing, mi 48911
Sparta Fitness & Kickboxing — 6250 S Cedar St #17c, Lansing, MI 48910
T5 Fitness — 2340 N Gunn Rd, Holt, MI 48842
Waverly Park Apartments — Lansing, MI 48911

Location Insight

Map
Local Demand

City: Lansing
County: Eaton
State: Michigan
Longitude: -84.556827
Latitude: 42.660617

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For sale
Fitness centers & gyms
MI
Lansing
48911
134 E Edgewood Blvd

What type of property is this?

Fitness center & gym - 17,700 SF building in South Lansing's retail corridor.

Where is this fitness center & gym located?

The property is located at 134 E Edgewood Blvd Lansing, MI.

What is the asking price?

The asking price for this property is $2,000,000.

What are key features of this property?

This property features: Fully‑entitled recreational cannabis facility with option to purchase license.; 17,700 SF building with large open areas suitable for various uses.; Ample parking available.