1019 Saginaw St, Unit 1 Lansing, MI 48915-1966
- Retail space
- 11,580 SF
- 0.48 lot acres
Jan 06, 2025
Current Use by Public Records
- Atef Hakim Griese Mousaad, RPh / Pharmacy
- Western Union / Bank / Credit Union
- higi / Physician
- Coinhub Bitcoin ATM Teller / Atm
- Chengyin Yao / Pharmacy
Property Details for 1019 Saginaw St
- Year built
- 1950
- Lot size
- 0.48 lot acres
- Property size
- 11,580 SF
- Zone code
- F COMM
- Property type
- Retail space
- APN
- 33-01-01-17-226-291
- APU
- 33010117226291
Description
This exceptional retail property, located at 1019 W Saginaw St in Lansing, Michigan, presents a unique investment opportunity. The 11,680 square foot building sits on a sizable 0.76-acre lot, zoned F-Comm, and offers significant potential for a variety of retail uses. Currently vacant, this single-tenant space benefits from its high-traffic location on West Saginaw Street, providing excellent visibility and accessibility. The property's strategic placement directly across from Sparrow Hospital's St. Lawrence Campus and a major medical office building ensures a substantial built-in customer base. Ample parking is available, further enhancing the property's appeal to both businesses and customers. The Ingham County location (APN: 33-01-01-17-226-291) offers easy access to major transportation routes and a thriving community. This property's size, location, and proximity to a major medical center make it an ideal location for a variety of retail businesses seeking high visibility and a strong customer base. The entire 11,680 square feet is available for lease, presenting a blank canvas for a new business venture or expansion. This is a rare opportunity to acquire a substantial retail space in a prime Lansing location.
Value Estimations
-
CAP approach
- CAP Return
- Estimation
- 6%
- $1,745,000
- 6.5%
- $1,610,000
- 7%
- $1,495,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $922,000
- AI Estimate
- $1,248,000
Market price range: $513k - $1.18MMarket price range: $422k - $1.69M -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $825,000 Current use
- RESTAURANT
- $1,010,000 Change: +22% Conversion: Easy
- AUTO REPAIR, GARAGE
- $990,000 Change: +19% Conversion: Difficult
- MEDICAL BUILDING
- $985,000 Change: +19% Conversion: Difficult
- OFFICE BUILDING
- $955,000 Change: +16% Conversion: Easy
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Location Insight
- Map
- Local Demand
- City
- Lansing
- County
- Ingham
- State
- Michigan
- Longitude
- -84.5667
- Latitude
- 42.7406
- CBSA code
- 29620
- CBSA name
- LANSING-EAST LANSING, MI METROPOLITAN STATISTICAL AREA