South Lansing Retail/Event
For Sale
Contact for pricing
134 E Edgewood Blvd, Lansing, MI 48911
17,700 SF building in South Lansing's retail corridor.
Property Size17,700 SF
Price / SF$112.99
Days on Market806
Property Features for 134 E Edgewood Blvd
General Information
Standard status
Active
Size
17,700 SF
Class
B
Total Parking Spaces
82
Property subtype
Retail, Special Purpose
Zoning
F-1, Commercial
Investment Type
Owner/User
Building Details
Year Built
2005
Buildings
1
Stories
2
Units
1
Listing Agency:
Martin Commercial Properties
Listed By:
Samantha Le · License #6501447479
(517) 775-4489
Source:
Crexi
Added: Jul 23, 2024
Changed: Oct 3
Last Checked: Oct 5 at 6:57PM
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
Investment Insights
Based on property information with market context.
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.
Key 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.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$160,203
Cap Rate
8.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,204,060
$3.2M
Cap Rate 7%
$2,288,614
$2.3M
Cap Rate 9%
$1,780,033
$1.8M
Market Conditions
NOI Build-Up for 17,700 SF
Gross rent
$265.5K $15.00/SF
− Vacancy
−$36.6K −$2.07/SF
EGI
$228.9K $12.93/SF
− OpEx
−$68.7K −$3.88/SF
NOI
$160.2K $9.05/SF
Area
Lansing, MI
Vacancy
13.80%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,204,060
Cap Rate 7%
$2,288,614
Cap Rate 9%
$1,780,033
Alternative Uses
Best Use
Retail
$2.29M
$2.00M – $2.67M
NOI $160,203 @ 7.0% cap · market cap 8.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.64M
$3.19M – $4.25M
NOI $255,038 @ 7.0% cap · market cap 12.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
165
Businesses Nearby
27k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 100%
Texas Roadhouse
Dining
26,571 visits/mo
0.3 miles
Demographics for 48911, MI
40,566
Population
18,069
Households
2.2
Avg Household Size
36
Median Age
26%
College-Educated
90%
High-School Grad
17.3 sq mi
ZIP Area
2,345
Density / Sq Mi
$54,882
Median Household Income
$36,245
Median Earnings
$933
Median Rent
$136,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Similar Off Market Nearby
- T5 Fitness — 2340 N Gunn Rd, Holt, MI 48842
- Waverly Park Apartments — Lansing, MI 48911
- Sparta Fitness & Kickboxing — 6250 S Cedar St #17c, Lansing, MI 48910
- Capital Area Soccer — 6025 curry ln, lansing, mi 48911
Frequently Asked Questions
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.
