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Property profile & analytics
FOR SALE
Commercial land

1525 Watertower Pl East Lansing, MI 48823

0.49 ac lot
Entity Owned 5-yr Hold ~ Est. High Equity
Property ID
US43-1154414
Property summary
AI-generated overview

This exceptional 0.492-acre commercial land parcel, located at 1525 Watertower Place in East Lansing, Michigan (48823), presents a remarkable opportunity for immediate development. Situated within the prestigious Watertower Place office condo development, this lot is the last remaining site, offering unparalleled visibility and convenience. The property boasts a prime location at the entrance on Coolidge Road, ensuring maximum exposure for any new construction. All utilities are readily available, and a pre-installed parking lot eliminates significant upfront infrastructure costs. The site is zoned for office use and benefits from the efficient management of common area maintenance provided by the condominium association. Its strategic location in East Lansing, just north of Lake Lansing Road and easily accessible from US 127, provides excellent connectivity and accessibility. The property is offered fee simple with an asking price of $390,000 and the APN is 33-20-01-02-226-107. This is a truly unique opportunity to establish a presence in a thriving East Lansing business community. Don't miss this chance to acquire the last available lot in this highly sought-after development.

Property profile
Verified
Property type Commercial land
Use group VACANT COMMERCIAL LAND
Lot 0.49 ac (21,432 SF)
Zoning code B4
APN 33-20-01-02-226-107
UPID US43-1154414
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
AI Approach AI
$545k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$515k
Owner & transaction history
Mb Elite Prop LLC · 5 yrs held
Mb Elite Prop LLC
since 2021
Last sale
$500,000
2 recorded transactions
2021
$500,000
2018
Price N/A
Zoning & alternative use
B4 · East Lansing, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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More about this property
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