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Property profile & analytics
OFF-MARKET Estimated value $1,720,000
Retail space

2655 Grand Riv Ave East Lansing, MI 48823-5617

26,714 SF 3.5 ac lot Built 2001
Entity Owned 24-yr Hold Absentee Owner ~ Est. High Equity
Property ID
US43-1977271
Property summary
AI-generated overview

Meridian Point, located at 2655 E Grand River Ave, East Lansing, MI 48823, presents a prime retail opportunity. This single-story, 2001-built shopping center offers a total of 15,000 square feet of vacant space, with a maximum contiguous space of 10,723 square feet. The property boasts a highly visible location on Grand River Ave, near the intersection of Grand River Ave and a cross street. Its strategic position directly east of the Michigan State University campus ensures high foot traffic and visibility. The center benefits from its proximity to established businesses such as Crunch Fitness and Foods for Living, further enhancing its appeal and drawing in a consistent customer base. The location also enjoys the added advantage of being near other popular retailers including Whole Foods and the new Trader Joe's, creating a synergistic retail environment. This multiple-tenancy shopping center offers an excellent chance to establish or expand a retail business in a thriving, high-demand area. The property consists of one building and provides ample space for a variety of retail uses. Interested parties should note the significant vacant space available, making it ideal for a large-scale retailer or multiple smaller tenants. This is a unique opportunity to secure a prominent retail presence in a dynamic East Lansing location.

Property profile
Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 2001
Total area 26,714 SF
Lot 3.5 ac (152,460 SF)
Zoning code C-2
APN 33-02-02-20-205-019
UPID US43-1977271
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
Current use
Occupant on record · Public records
  • Foods For Living (Bike/Boat/Book/etc) Store Specialty Food Shop
  • Crunch Fitness - East Lansing Gym & Fitness Center
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$1.47M
Blend (final) Blend
$1.72M
Owner & transaction history
Meridian Pointe Center LLC · 24 yrs held
Meridian Pointe Center LLC
since 2001
3 recorded transactions
2019
Price N/A
2001
$2.8M
1969
Price N/A
Zoning & alternative use
C-2 · East Lansing, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage $2.7M +26.9%
Office building $2.6M +24.8%
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