Property profile

1923 Washington Ave 8 Lansing, MI 48910

OFF-MARKET
Auto shops
Property ID
US43-0098279
2,277 SF 0.2 ac lot Built 1937
Individually Owned 5-yr Hold Free & Clear
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Property summary

AI-generated overview

This exceptional commercial property, situated at 1923 S Washington in Lansing, Michigan, presents a compelling investment opportunity. The 2,277 square foot building, constructed in 1937, is ideally positioned near the intersection of Washington Avenue and Mt. Hope Avenue, offering excellent visibility and accessibility. The property sits on a 0.199-acre lot, measuring 90 feet by 125 feet, and boasts ample asphalt parking for customers and employees. Currently configured for auto service, the building's versatile layout allows for a variety of potential uses, subject to zoning regulations. The foundation is substantial, measuring 6,075 square feet, providing a solid base for the structure. The building features forced-air heating, a shingle roof, and is connected to public sewer services. Its strategic location near I-496 ensures convenient access for customers and employees, enhancing its overall appeal and potential for success. The property is zoned for commercial use, making it suitable for a range of businesses. This well-established location offers a unique blend of history and potential, making it an attractive investment in a thriving Lansing commercial district.

Property profile

Verified
Property type Auto shops
Use group AUTO REPAIR, GARAGE
Year built 1937
Total area 2,277 SF
Lot 0.2 ac (8,668 SF)
Zoning code F COMM
APN 33-01-01-21-455-015
UPID US43-0098279

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Car Dealership

Location

1923 Washington Ave, Unit 8 Lansing, MI 48910-9152
Lansing metro Census 2000 LANSING-EAST LANSING, MI METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$55k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$60k

Owner & transaction history

since 2021
Last sale
$60,000
3 recorded transactions
2021
$60,000
2018
Price N/A
2011
$3,500

Zoning & alternative use

F COMM · 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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