900 Southland Ave Lansing, MI 48910

This 16,800 square foot, single-story shopping center in Lansing, MI presents a compelling value-add investment opportunity. Located at 900 Southland Ave, this fee-simple property boasts a 90% occupancy rate with four tenants, including a laundromat, boxing gym, and two churches. The property features a diverse tenant mix with long-term leases, offering a stable income stream and a current NOI of $39,752, representing a 9.94% cap rate on the $400,000 asking price. Built in 1968 and renovated in 2000, the property sits on a 1.09-acre lot and is zoned for commercial/office use. Two vacant units provide significant upside potential for increased rental income. Recent improvements include a parking lot patch and seal coat. The property's strategic location near the new City of Lansing municipal building site offers excellent visibility and accessibility via I-496 and Washington Ave. This is a 1031 exchange eligible property with a modified lease structure. The property's seven units are spread across one building. The asking price is $23.81 per square foot. The APN is 33-01-01-29-476-091.