Property profile

3131 Michigan Ave Lansing, MI 48912

OFF-MARKET
Outlet malls
Property ID
US43-1325598
154,644 SF 14.48 ac lot Built 1953
Entity Owned 18-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional 80,000-square-foot industrial property, located at 3131 E Michigan Ave in Lansing, Michigan, presents a significant opportunity for businesses seeking a large-scale warehouse or flex space. The single-tenant building boasts a substantial 80,000 square feet of vacant space, ready for immediate occupancy. The high ceilings, measuring 17 feet, provide ample vertical clearance for storage and operations. Four loading docks ensure efficient loading and unloading of goods, streamlining logistical processes. The property's classification as both warehouse and flex space offers considerable versatility, accommodating a wide range of industrial and commercial uses. Situated in Ingham County, with a convenient Lansing address and zip code 48912, this location offers excellent access to transportation networks and a skilled workforce. The property is currently entirely vacant, providing a blank canvas for a new tenant to customize the space to their specific needs. This is a rare opportunity to secure a substantial, well-equipped industrial space in a prime Lansing location. The property's size and features make it suitable for a variety of businesses seeking significant warehouse or flex space in the Lansing area.

Property profile

Verified
Property type Outlet malls
Use group WHOLESALE OUTLET, DISCOUNT STORE
Year built 1953
Total area 154,644 SF
Lot 14.48 ac (630,749 SF)
Zoning code F COMM
APN 33-01-01-14-226-021
UPID US43-1325598

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
  • Restaurant Theater & Performing Art Venue
  • Medical Laboratory
  • Home Appliance Store
  • Medical Laboratory
  • High School

Location

3131 Michigan Ave Lansing, MI 48912-4618
Lansing metro Census 4000 LANSING-EAST LANSING, MI METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$5.81M
Blend (final) Blend
$4.40M

Owner & transaction history

since 2008
2 recorded transactions
2008
Price N/A
1969
Price N/A

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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