Property profile

1525 Watertower Pl East Lansing, MI 48823

FOR SALE
Commercial land
Property ID
US43-1154414
0.49 ac lot
Entity Owned 5-yr Hold ~ Est. High Equity
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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

Location

1525 Watertower Pl East Lansing, MI 48823
East Lansing metro Census 3802 LANSING-EAST LANSING, MI METROPOLITAN STATISTICAL AREA
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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

since 2021
Last sale
$500,000
2 recorded transactions
2021
$500,000
2018
Price N/A

Zoning & alternative use

B4 · East Lansing, MI

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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More about this property
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