Current Use by Public Records
- Kash Connections / (Bike/Boat/Book/etc) Store / Auto Parts Store
- True Blue Auto / Auto Repair Shop
- Mr Party Celebration Enterprises Inc. / Theater & Performing Art Venue / Nightclub
Property Details for 3405 East St
- Year built
- 1947
- Lot size
- 0.48 lot acres
- Property type
- Warehouses
- Property subtype
- Industrial properties
Description
This fully leased, single-story industrial warehouse in Lansing, MI presents a compelling investment opportunity. The 8,000 square foot building, constructed in 1947, sits on a 0.48-acre lot and boasts a 12-foot ceiling height. Currently operating as a multi-tenant property with three tenants, it generates a net operating income (NOI) of $19,100 annually, resulting in an attractive 11.94% capitalization rate at the asking price of $292,327. The property features four loading docks and one dock-high door, ensuring efficient operations. Conveniently located at 3405 N East St, Lansing, MI 48906, this Class C building is zoned for commercial use and offers excellent visibility and accessibility. The property's strong cash flow, coupled with its strategic location and functional design, makes it an ideal addition to any investment portfolio. The building's APN is 01-01-04-228-071. This is a prime opportunity to acquire a stable, income-producing asset in a thriving commercial area. The property's current gross rents are $54,000 per year.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Lansing
- County
- Ingham
- State
- Michigan
- Longitude
- -84.5432
- Latitude
- 42.7682
