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    FOR LEASE
    Office buildings

    120 W Saginaw St, East Lansing, MI 48823

    14,260 SF 3.33 ac lot Built 1961
    Entity Owned 3-yr Hold Free & Clear
    Property ID
    US43-1501818
    Property summary
    AI-generated overview

    This exceptional commercial property, located at 120 W Saginaw Highway at the corner of West Saginaw Highway and Abbot Road in Ingham County, offers a unique opportunity. Comprising two Class A buildings totaling 43,021 square feet, this property is ideally situated for businesses seeking a prestigious address. Currently, there are two available office spaces, ranging in size from 4,966 to 12,538 square feet, perfect for a variety of tenants. The location provides unparalleled convenience, with easy access to US-127 and proximity to Michigan State University campus, diverse dining options, fitness centers, financial institutions, grocery stores, and retail establishments. The buildings themselves hold significant historical value, boasting a place on both the State and National Registers of Historic Sites. This presents a rare chance to occupy a landmark property while enjoying modern amenities and a strategic location. The multiple tenancy structure allows for flexibility and potential for growth. This is an exceptional opportunity to establish a presence in a thriving area with a rich history. The property's prime location and historical significance make it an attractive investment for businesses seeking a unique and advantageous position in the Lansing market. The available space offers a blend of character and modern functionality, catering to a wide range of business needs.

    Property profile
    Verified
    Property type Office buildings
    Use group OFFICE BUILDING
    Year built 1961
    Total area 14,260 SF
    Lot 3.33 ac (145,055 SF)
    Zoning code B1
    APN 33-20-01-12-403-008
    UPID US43-1501818
    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
    • MiHIN | Michigan Health Information Network Shared Services Charitable Organization Social Service Agency
    • MSMS Physicians Insurance Agency Insurance Agency
    • Michigan State Medical Society Association / Organization Non-Profit Organization
    • Velatura Corporate Office
    • mdpac Medical Clinic
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
    $1.98M
    Comparable Approach Comparable
    $2.25M
    Blend (final) Blend
    $2.08M
    Owner & transaction history
    George F Eyde Family LLC · 3 yrs held
    George F Eyde Family LLC
    since 2023
    1 recorded transaction
    2023
    Zoning & alternative use
    B1 · East Lansing, MI
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
    Top alternative use upside
    Medical building $1.8M +24.5%
    Restaurant $1.7M +17.8%
    Commercial (general) $1.6M +15.4%
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    “Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
    More about this property
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