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Property profile & analytics
FOR SALE
Medical Office Space

1504 E Grand River Ave East Lansing, MI 48823

17,434 SF 0.67 ac lot Built 2000
Entity Owned 11-yr Hold ~ Est. High Equity
Property ID
US43-0328073
Property summary
AI-generated overview

This exceptional two-story, Class B office building, located at 1504 E Grand River Ave in East Lansing, MI 48823, presents a unique investment opportunity. Boasting a total of 17,434 square feet across six suites, this 2002-built property sits on a sizable 30,406 square foot lot. Its strategic location at the hard corner of Hagadorn and Grand River provides excellent visibility and accessibility, benefiting from a high daily traffic count of 23,115 vehicles. The building's traditional office layout is ideal for a variety of businesses, and its proximity to Michigan State University, downtown East Lansing, Trader Joe's, and Whole Foods ensures high foot traffic and convenient access to amenities. The property features ample on-site parking, catering to both employees and clients. The zoning is RM32, and the APN is 33-20-02-17-304-001. Currently, there is 2,847 square feet of newly built-out office space available. Flexible lease terms are available. This property offers a compelling combination of location, size, and amenities, making it an attractive option for businesses seeking a thriving and convenient location in East Lansing. The building consists of one structure with two stories.

Property profile
Verified
Property type Medical Office Space
Use group MEDICAL BUILDING
Year built 2000
Total area 17,434 SF
Lot 0.67 ac (29,185 SF)
Zoning code RM32
APN 33-20-02-17-304-001
UPID US43-0328073
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
  • Rick J. Smith, MD - East Lansing, MI Spa & Massage Center Alternative Medicine Practice
  • United Resiliency Center Community Center
  • Lindsay Solgat, MA Physician Medical Clinic
  • Kathy Kuehne, LE Skin Care Clinic
  • Lisa Allen, RN Physician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$2.26M
Comparable Approach Comparable
$1.78M
Blend (final) Blend
$1.78M
Owner & transaction history
George F Eyde Family LLC · 11 yrs held
George F Eyde Family LLC
since 2015
7 recorded transactions
2015
Price N/A
2008
$1.7M
2007
$1.9M
2005
$2.5M
1969
Price N/A
1969
Price N/A
1969
Price N/A
Zoning & alternative use
RM32 · East Lansing, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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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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