900 Southland Ave Lansing, MI 48910
- Lifestyle centers
- 16,800 SF
- 1.09 lot acres
Current Use by Public Records
- Lifestyle centers
Property Details for 900 Southland Ave
- Year built
- 1968
- Lot size
- 1.09 lot acres
- Property size
- 16,800 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
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.
Value Estimation
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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
- -84.5655
- Latitude
- 42.7002
