415 Grand River Ave East Lansing, MI 48823
- Office buildings
- 1,946 SF
- 0.10 lot acres
Current Use by Public Records
- Rockwell David G PhD / Psychologist
- Wright Barry M PhD / Psychologist
- Princewell Onwere, DO / Psychiatrist
- Heavenrich James L / Social Worker
- Cynthia A. Hockett, PHD / Psychologist
Property Details for 415 Grand River Ave
- Year built
- 1939
- Lot size
- 0.10 lot acres
- Property size
- 1,946 SF
- Zone code
- RM32
- Property type
- Office buildings
- APN
- 33-20-01-13-237-006
- APU
- 33200113237006
Description
This exceptional 2,890 square foot medical office building, located at 415 W Grand River Ave in East Lansing, Michigan, presents a unique investment opportunity. Built in 1939 and situated on a 0.1-acre lot, this Class B property boasts a charming and updated interior. The building features ten individual offices, four lavatory bathrooms, and on-site parking for five vehicles. Currently operating at 20% occupancy, the asking price is $375,000, translating to $129.76 per square foot. The property is zoned RM-32, offering flexibility for various medical uses. The two-story building has undergone soundproofing improvements, enhancing its functionality and appeal. Its convenient location near Michigan State University provides excellent access to a large pool of potential patients and employees. The property's long history as a professional office space speaks to its enduring value and suitability for continued use in the medical field. The Ingham County location, with its address 415 W Grand River Ave, East Lansing, MI 48823, ensures easy access to major transportation routes and local amenities. The property's APN is 33-20-01-13-237-006. Broker co-op is available.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $295,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $350,000
- 6.5%
- $365,000
- 7%
- $365,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $345,000
- Geo Method
- $395,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $305,000
- Retail
- $380,000
- Mixed-Use
- $355,000
- Hospitality
- $385,000
- Educational
- $370,000
- Residential Income
- $370,000
- Energy
- $335,000
- Income-Based Land
- $355,000
- Food Service
- $305,000
Location Insight
- Map
- Local Demand
- City
- East Lansing
- County
- Ingham
- State
- Michigan
- Longitude
- -84.4898
- Latitude
- 42.7366
- CBSA code
- 29620
- CBSA name
- LANSING-EAST LANSING, MI METROPOLITAN STATISTICAL AREA
