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    Property profile & analytics

    2320 East Saginaw St Lansing, MI 48912

    • Auto shops
    • 1,698 SF
    • 0.18 lot acres
    For Sale
    View listing
    $395,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-0997440
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Schep's Garage / Auto Repair Shop

    Property Details for 2320 East Saginaw St

    Year built
    1931
    Lot size
    0.18 lot acres
    Property size
    1,698 SF
    Zone code
    E-2 LOC
    Property type
    Auto shops
    APN
    33-01-01-14-105-441
    APU
    33010114105441

    Description

    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.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $230,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $141,000
      Market price range: $77.5k - $251k

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $145,000
      Current use
      MEDICAL BUILDING
      $145,000
      Change: -0% Conversion: Difficult
      OFFICE BUILDING
      $140,000
      Change: -3% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Lansing
    County
    Ingham
    State
    Michigan
    Longitude
    -84.5179
    Latitude
    42.7407
    CBSA code
    29620
    CBSA name
    LANSING-EAST LANSING, MI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2020
    $2,391
    $19,100
    $34,200
    $53,300
    -
    $38,200
    $68,400
    $106,600

    Comparable in this City

    • Value Estimation
      $240,000
      1,080 SF

      602 Larch St, Unit 2

      AUTO REPAIR, GARAGE • 1,080 SF
      602 Larch St, Lansing, MI 48912-1212
      View Details
    • Value Estimation
      $250,000
      1,277 SF

      2032 Saginaw St

      AUTO REPAIR, GARAGE • 1,277 SF
      2032 Saginaw St, Lansing, MI 48912-3136
      View Details
    • Value Estimation
      $370,000
      15,973 SF

      1151 Haco Dr

      AUTO REPAIR, GARAGE • 15,973 SF
      1151 Haco Dr, Lansing, MI 48912-1607
      View Details
    • Value Estimation
      $110,000
      2,384 SF

      319 Homer St

      AUTO REPAIR, GARAGE • 2,384 SF
      319 Homer St, Lansing, MI 48912-4613
      View Details
    • Value Estimation
      $350,000
      7,624 SF

      324 Hosmer St

      AUTO REPAIR, GARAGE • 7,624 SF
      324 Hosmer St, Lansing, MI 48912-1338
      View Details
    • Value Estimation by Request
      1,450 SF

      1715 Kalamazoo St

      AUTO REPAIR, GARAGE • 1,450 SF
      1715 Kalamazoo St, Lansing, MI 48912-2702
      View Details

    Similar Nearby for Sale

    • $395,000
      1,698 SF

      Turn-Key Auto Repair Shop Opportunity

      Established auto repair shop for sale on Lansing's busiest corridor.
      2320 East Saginaw St, Lansing, MI 48912
      View Details
    • $75,000
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      Turnkey Retail Opportunity in Lansing

      Retail space in a high-traffic residential area with existing infrastructure.
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    • $1,095,000
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      Lansing Restaurant - MSU Area

      Prime location, 11,976 sq ft, vacant.
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    • $219,000
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      Lansing Multifamily Investment Opportunity

      Four-unit apartment building, prime location.
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    • $300,000
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      Lansing Multifamily Investment Opportunity

      Multifamily property in Lansing, suitable for investors or homeowners.
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    • $1,600,000
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    Similar Nearby for Lease

    • $7 SF/Yr
      3,510 SF

      Lansing Flex Space with Drive-ins

      Flex space with drive-in doors near Michigan Avenue and US-127.
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      View Details
    • $22 SF/Yr
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      High-traffic location, 21,435 SF available
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    • $14 SF/Yr
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      Frandor Plus Executive Office Space

      Prime Ingham County Office Suite Available
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      View Details
    • Contact for pricing
      10,002 SF

      Regional Lifestyle Retail Destination

      Regional lifestyle destination with premium brands and national dining options.
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    • $15 SF/Yr
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      Mason Retail Space - 11,175 SF

      High-traffic retail space, drive-thru available.
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    • $10 SF/Yr
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      Retail Space on Saginaw Street

      Retail space available in high-traffic Lansing retail center.
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      View Details
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    Lansing, MI 48912
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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