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    OFF-MARKET
    Turn key restaurants

    115 Washington Sq 6, Lansing, MI 48933-1703

    2,662 SF 0.03 ac lot Built 2002
    Entity Owned 6-yr Hold ~ Est. High Equity
    Property ID
    US43-1606887
    Property summary
    AI-generated overview

    This 3,387 square foot restaurant space, built in 1985 and renovated in 2002, is ideally situated in downtown Lansing at 115 S Washington Square, zip code 48933. The single-tenant property boasts a spacious dining area easily accommodating numerous booths and tables, along with built-in features such as buffet warming stations and a drink filling station. The well-equipped kitchen includes multiple prep stations, a large walk-in freezer and refrigerator, a three-compartment sink, and a substantial 25-foot hood covering six wok stations. Its prime location offers exceptional walkability to state buildings, the Capitol, and numerous downtown apartments. The property benefits from high visibility and foot traffic, nestled between W. Michigan Ave and E Allegan St. This vibrant area is home to a diverse mix of quick-service and sit-down restaurants, including established businesses such as Jimmy John's, Juice Nation, AnQi Sushi Express, La Cocina Cubana, Sahara Delight, and the Peanut Shop, creating a thriving culinary environment. This turnkey restaurant space presents a unique opportunity for a variety of food service concepts. The property is classified as Retail and Restaurant, specifically suited for quick-service, fast food, and dine-in establishments.

    Property profile
    Verified
    Property type Turn key restaurants
    Use group RESTAURANT
    Year built 2002
    Total area 2,662 SF
    Lot 0.03 ac (1,437 SF)
    Zoning code G-1 BUS
    APN 33-01-01-16-401-054
    UPID US43-1606887
    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
    Value estimations
    Realmo proprietary · 4 methods
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    Owner & transaction history
    Spirit Partnership LLC · 6 yrs held
    Spirit Partnership LLC
    since 2019
    2 recorded transactions
    2019
    1969
    Zoning & alternative use
    G-1 BUS · Lansing, MI
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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