1031 N Washington Ave Lansing, MI 48906
(Open House Sunday, March 1st from 1-3 PM) Mixed-use opportunity located in the heart of Old Town Lansing. This 2,727 SF property is configured with a ground-floor office suite and an upper-level residential unit, each with separate entrances. Zoned DT-1 (Downtown 1), the building permits a range of commercial, office, and residential uses, offering flexibility for both investors and owner-occupants. The main level is currently occupied by an engineering firm whose ownership is relocating, creating near-term availability for an owner-user or leasing opportunity at market rates. The office space features high ceilings, strong natural light, a half bath, kitchenette, and a flexible layout suitable for professional services or creative office use. The upper level consists of a six-bedroom residential unit with shared kitchen and full bath. Bedrooms have previously leased individually at approximately $375 per room. One bedroom is currently leased through August. Separate utilities, rear access, and on-site parking enhance leasing flexibility. Potential configurations include a single large office, two office suites, continued room-by-room residential rental, conversion to two residential units (with added shower/range on lower level), live/work use, or single-family conversion. Prominent frontage along N. Washington Avenue provides visibility within one of Lansing’s most active and walkable districts. Suitable for investors, owner-users, or adaptive reuse buyers seeking long-term flexibility in a mixed-use corridor.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
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Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.