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    1660 Lansing Rd Charlotte, MI 48813
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    Property profile & analytics

    1660 Lansing Rd, Charlotte, MI 48813

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    • Lifestyle centers
    • 86,950 SF
    • 11.70 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Lifestyle centers

    Property Details for 1660 Lansing Rd

    Lot size
    11.70 lot acres
    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    This prime 86,950 square foot shopping center in Charlotte, Michigan, presents a compelling investment opportunity. Located at 1660 Lansing Rd, in Eaton County, (48813), this Class C, multi-tenant retail property boasts a 73% occupancy rate and sits on an expansive 11.7-acre lot. The property is zoned for commercial use and offers excellent visibility, being situated just three-quarters of a mile northeast of I-69 in Charlotte's premier shopping district. Currently, there are several available suites: a former Gordman's space, and up to four smaller end-cap suites. These smaller suites range from 1,400 to 5,400 square feet and are divisible, with a minimum size of 1,200 square feet. Additionally, suites 221-251 can be combined to create a larger space totaling up to 5,445 square feet. This NNN lease property offers a strong foundation for investors seeking a stable, high-traffic retail location. The property's strategic location and flexible suite options make it ideal for a variety of retail businesses. The substantial lot size also provides ample room for potential future expansion or development. This is a rare opportunity to acquire a well-positioned retail center in a thriving Michigan community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Charlotte
    County
    Eaton
    State
    Michigan
    Longitude
    -84.8034
    Latitude
    42.5834

    Comparable in this City

    • Value Estimation by Request
      5,280 SF

      311 Lansing St

      SHOPPING CENTER, STRIP CENTER
      311 Lansing St, Charlotte, MI 48813-1685
      View Details
    • Value Estimation by Request
      93,834 SF

      515 Lansing St

      SHOPPING CENTER, STRIP CENTER
      515 Lansing St, Charlotte, MI 48813-1100
      View Details
    • Value Estimation by Request
      13,160 SF

      1662 Packard Hwy

      SHOPPING CENTER, STRIP CENTER
      1662 Packard Hwy, Charlotte, MI 48813-7735
      View Details
    • Value Estimation by Request
      13,571 SF

      6951 Lansing Rd

      Restaurants
      6951 Lansing Rd, Charlotte, MI 48813
      View Details
    • Value Estimation
      $4,835,000
      158,736 SF

      1167 Clinton Trl

      WHOLESALE OUTLET, DISCOUNT STORE
      1167 Clinton Trl, Charlotte, MI 48813-7318
      View Details
    • Value Estimation by Request
      7,400 SF

      1167 Lansing Rd

      WHOLESALE OUTLET, DISCOUNT STORE
      1167 Lansing Rd, Charlotte, MI 48813-8440
      View Details

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    Charlotte, MI 48813
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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
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