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Property profile

2320 East Saginaw St Lansing, MI 48912

Auto shops
Property ID
US43-0997440
View Sample
1,698 SF 0.18 ac lot Built 1931
Entity Owned 17-yr Hold ~ Est. High Equity

Property summary

AI-generated overview

This exceptional 1,700 square foot auto service facility is ideally situated at a signaled corner on a heavily trafficked eastbound thoroughfare in Lansing, Michigan. The property boasts a desirable E-2, Local Business zoning, allowing for a variety of uses. The building features a reception area, two private offices, and spacious service bays equipped with three overhead doors (ranging from 8'x8' to 10'x10') complete with electric openers and three car lifts. High ceilings (13 feet clear), fluorescent lighting, and robust 200-amp, 220-volt power ensure efficient operations. The approximately eight-year-old roof provides peace of mind. Ample lighted paved parking is available for customers and staff. This two-parcel assemblage offers over 300 feet of frontage and two convenient access points, presenting opportunities for expansion. The property's strategic location, just half a mile from US-127 and 1.2 miles from I-496, ensures high visibility and accessibility. Strong demographics and significant traffic counts make this a compelling investment opportunity. The 0.37-acre lot provides ample space, and the building's partially occupied status offers potential for increased revenue. This turnkey operation is priced at $450,000, representing a price per square foot of $264.71. The property is located at 2320 E Saginaw St, Lansing, MI 48912.

Property profile

Verified
Property type Auto shops
Use group AUTO REPAIR, GARAGE
Year built 1931
Total area 1,698 SF
Lot 0.18 ac (7,667 SF)
Zoning code E-2 LOC
APN 33-01-01-14-105-441
UPID US43-0997440

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
  • Auto Repair Shop

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
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Comparable Approach Comparable
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Blend (final) Blend
$230k

Owner & transaction history

since 2009
1 recorded transaction
2009
Price N/A

Zoning & alternative use

E-2 LOC · 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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