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Property profile & analytics
FOR SALE
Drug stores

111 E Saginaw St East Lansing, MI 48823

14,637 SF 2.14 ac lot Built 2007
Entity Owned Absentee Owner Free & Clear
Property ID
US43-1294727
Property summary
AI-generated overview

This exceptional 14,564-square-foot retail building, constructed in 2007, presents a remarkable investment opportunity in the vibrant heart of East Lansing, Michigan. Located at 111 E Saginaw St, this single-tenant building sits on a 2.14-acre lot and offers unparalleled visibility and accessibility. The property boasts a highly desirable location at a lighted intersection on a major thoroughfare, experiencing over 47,000 vehicles per day. Its strategic placement near the intersection of Abbot Road and Saginaw Street ensures maximum exposure to a substantial daily traffic flow. The building's proximity to Michigan State University, with its over 50,000 students, creates a significant pool of potential customers. Furthermore, its location is just 1.9 miles from major retailers such as JoAnn Fabrics, McDonald's, Petco, and T.J. Maxx, further enhancing its appeal and accessibility. The entire 14,564 square feet is currently vacant, providing a blank canvas for a wide range of retail ventures. This property is situated in Ingham County, Michigan, with a zip code of 48823. The building's single-tenant configuration offers simplicity and efficiency for potential occupants. This is a rare opportunity to acquire a prime retail space in a thriving East Lansing market.

Property profile
Verified
Property type Drug stores
Use group DRUG STORE, PHARMACY
Year built 2007
Total area 14,637 SF
Lot 2.14 ac (93,001 SF)
Zoning code B2
APN 33-20-02-07-300-008
UPID US43-1294727
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
  • ATM Atm
  • higi Physician
  • Rite Aid Pharmacy
  • Rite Aid Photo (Bike/Boat/Book/etc) Store
  • Western Union Bank Credit Union
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$1.56M
Comparable Approach Comparable
$1.49M
Blend (final) Blend
$755k
Owner & transaction history
City Of East Lansing
City Of East Lansing
since 2026
3 recorded transactions
2026
Price N/A
2017
Price N/A
2007
Price N/A
Zoning & alternative use
B2 · East Lansing, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building $1.8M +55.4%
Restaurant $1.7M +47.0%
Commercial (general) $1.7M +44.0%
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Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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