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    Property profile & analytics
    FOR LEASE
    Strip malls

    4790 S Hagadorn Rd, East Lansing, MI 48823

    75,347 SF 9.94 ac lot Built 1993
    Entity Owned 9-yr Hold Free & Clear
    Property ID
    US43-0059317
    Property summary
    AI-generated overview

    Hannah Plaza, located at 4790 S Hagadorn Rd, East Lansing, MI 48823, offers exceptional retail space in a thriving location. This multi-tenant property boasts a total of 97,582 square feet, with a variety of spaces available ranging from a minimum of 2,950 square feet to a maximum contiguous space of 13,987 square feet. Currently, 24,727 square feet is vacant, presenting a significant opportunity for new businesses. The plaza enjoys a strategic position on Hagadorn Road, situated between Grand River Avenue and Mt. Hope Road, ensuring high visibility and accessibility. Hannah Plaza benefits from a strong tenant mix, including established businesses such as Pizza House, Powerhouse Gym, Orangetheory Fitness, GNC, Jimmy John's, Sansu, and Square One Bakery, creating a vibrant and attractive retail environment. Its convenient location also places it within walking distance of key amenities such as the Michigan Athletic Club, Sparrow Health Science Pavilion, The Lodges of East Lansing, and the Marriott Towne Place Suites, further enhancing its appeal to both businesses and customers. This Ingham County property presents a compelling investment opportunity for businesses seeking a prime retail location in a bustling area of East Lansing. The property is classified as Retail, with subtypes including Convenience Store, Restaurant, Nutrition, and Bakery.

    Property profile
    Verified
    Property type Strip malls
    Use group SHOPPING CENTER, STRIP CENTER
    Year built 1993
    Total area 75,347 SF
    Lot 9.94 ac (432,769 SF)
    Zoning code C-2
    APN 33-02-02-20-152-007
    UPID US43-0059317
    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
    • J2 Tanning Hannah Plaza Tanning Salon
    • Pizza House Restaurant
    • Pho So 1 Restaurant
    • Spartans Edge Barbershop Barber Shop
    • Zhen Ramen & Grill Restaurant
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    $4.59M
    Blend (final) Blend
    $4.72M
    Owner & transaction history
    Eyde Hannah Plaza LLC · 9 yrs held
    Eyde Hannah Plaza LLC
    since 2017
    7 recorded transactions
    2022
    2017
    2013
    $11.2M
    2013
    $11.2M
    2006
    $11.6M
    2006
    1969
    Zoning & alternative use
    C-2 · East Lansing, MI
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
    Top alternative use upside
    Auto repair, garage $7.6M +56.8%
    Office building $7.5M +54.3%
    Retail stores $6.0M +23.6%
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    “Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
    More about this property
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