Prime Redevelopment Opportunity
4400 N Grand River Ave Lansing, MI 48906
4400 N Grand River Ave, Lansing, MI, 48906
Contact for pricing
For Sale
Contact for pricing
Pending
Corner lot near Capital City Airport, Lansing, MI.
Property Size4,578 SF
Days on Market1323
Property Features for 4400 N Grand River Ave
General Information
- Standard status
- Pending
- Size
- 4,578 SF
- Property subtype
- Retail
Listing agency
The ReMax Collection
(517) 285-3017
Listed by
Tim Sabrosky · License #MI 6501389687
Source
Crexi
Added: Dec 6, 2022 Updated: Jul 10 at 3:45PM Checked: Jul 21 at 5:03AM
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 The ReMax Collection
Investment Insights
Based on property information with market context.
This property presents a prime redevelopment opportunity situated on the corner of Grande River Ave and Capital City Blvd, directly in front of the Capital City Airport. The location offers frontage and accessibility suitable for various uses that the City of Lansing would consider. The existing buildings, with a total size of 4578 square feet, were previously a Burger King and a bank. The seller is open to selling each offering independently.
Key Highlights
- Prime re‑development opportunity.
- Located on the corner of Grande River Ave and Capital City Blvd, in front of Capital City Airport.
- Incredible frontage and accessibility.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $68.7k | $15.00 |
| − Vacancy | −$9.5k | −$2.07 |
| EGI | $59.2k | $12.93 |
| − OpEx | −$17.8k | −$3.88 |
| NOI | $41.4k | $9.05 |
4,578 SF · lease $15.00/SF/yr · vacancy 13.80% · expense 30.00%
Alternative Uses
Best Use
Retail
$591.9K
$517.9K – $690.6K
NOI $41,435 @ 7.0% cap · market cap 5.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$942.3K
$824.6K – $1.10M
NOI $65,964 @ 7.0% cap · market cap 8.80%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Retail space
Similar For Sale Nearby
FAQs
What type of property is this?
Retail space - Corner lot near Capital City Airport, Lansing, MI.
Where is this retail space located?
The property is located at 4400 N Grand River Ave Lansing, MI.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Prime re‑development opportunity.; Located on the corner of Grande River Ave and Capital City Blvd, in front of Capital City Airport.; Incredible frontage and accessibility.
