Current Use by Public Records
- YAY FIT / Gym & Fitness Center
- Dance City West / Training Center
Property Details for 5206 Saginaw Hwy
- Year built
- 1969
- Lot size
- 2.14 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Retail space
Description
This exceptional 21,410 square foot retail center, situated on a 2.14-acre lot in Lansing, Michigan, presents a compelling investment opportunity. The property, built in 1969 and boasting a Class B designation, features a single-story building with a C-2 zoning permit. Currently operating at 55% occupancy, the center generates a Net Operating Income (NOI) of $89,705, yielding a 6.93% cap rate. However, a pro-forma analysis projects a significantly higher NOI of $192,000 and a 14.83% cap rate, indicating substantial growth potential. The property is anchored by a United States Postal Service location and Dance City West, ensuring high visibility and consistent foot traffic within a busy retail corridor. Two available suites, ranging from 2,982 to 7,560 square feet, offer leasing potential to further increase revenue. The asking price is $1,295,000, translating to $60.49 per square foot. This multi-tenant retail center operates under a NNN lease structure with credit-rated tenants. The property's address is 5206 W Saginaw Hwy, Lansing, MI 48917, and its APN is 040-011-400-115-00. This is an owner/user investment opportunity with significant upside.
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
- Eaton
- State
- Michigan
- Longitude
- -84.6231
- Latitude
- 42.7444
