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Property profile & analytics
OFF-MARKET Estimated value $6,460,000
Office buildings

106 Allegan St 8 Lansing, MI 48933-1700

92,790 SF 0.34 ac lot Built 1900
Entity Owned 19-yr Hold Absentee Owner ~ Est. High Equity
Property ID
US43-1507024
Property summary
AI-generated overview

The Hollister Building at 106 W. Allegan Street offers a prime retail opportunity in a high-traffic location. This multi-tenant building boasts a total of 93,000 square feet, with 1,485 square feet currently available for lease. The space is street-level, ensuring excellent visibility and pedestrian access. Ideal for a variety of retail or service businesses, the minimum leasable space is 1,035 square feet, while the maximum contiguous space available is 1,485 square feet. The building's strategic location benefits from a significant workforce within a three-mile radius, exceeding 96,000 employees. This presents a unique chance to tap into a large consumer base. The property is well-suited for businesses seeking high visibility and convenient access for customers. The available space is ready for immediate occupancy, providing a seamless transition for new tenants. This is an exceptional opportunity to establish a thriving business in a vibrant and densely populated area. The building's strong location and ample square footage make it an attractive option for businesses looking to expand or establish a new presence. Serious inquiries are encouraged to explore this exceptional retail space.

Property profile
Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1900
Total area 92,790 SF
Lot 0.34 ac (14,898 SF)
APN 33-01-01-16-325-031
UPID US43-1507024
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • RWC Advocacy Law Firm
  • Michigan Commission on Law Enforcement Standards Government Office
  • Michigan Chapter - American Academy of Pediatrics Association Or Organization
  • Michigan Council for Maternal and Child Health Charitable Organization Social Service Agency
  • Deloitte Business Management Consultant Tax Preparation Service
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$6.03M
Blend (final) Blend
$6.46M
Owner & transaction history
Boji Tower LLC · 19 yrs held
Boji Tower LLC
since 2006
6 recorded transactions
2008
Price N/A
2006
Price N/A
2005
Price N/A
1969
Price N/A
1969
Price N/A
1969
Price N/A
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant $8.1M +5.7%
Auto repair, garage $7.9M +3.4%
Medical building $7.9M +3.1%
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