Property profile

4790 Hagadorn Rd East Lansing, MI 48823

FOR LEASE
Strip malls
Property ID
US43-0059317
75,347 SF 9.94 ac lot Built 1993
Entity Owned 9-yr Hold Free & Clear
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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

Current use

Occupant on record · Public records
  • Tanning Salon
  • Restaurant
  • Restaurant
  • Barber Shop
  • Restaurant

Location

4790 Hagadorn Rd East Lansing, MI 48823
East Lansing metro Census 4902 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
$4.59M
Blend (final) Blend
$4.72M

Owner & transaction history

since 2017
7 recorded transactions
2022
Price N/A
2017
Price N/A
2013
$11.2M
2013
$11.2M
2006
$11.6M
2006
Price N/A
1969
Price N/A

Zoning & alternative use

C-2 · East Lansing, MI
Top alternative use upside
Auto repair, garage $7.6M +56.8%
Office building $7.5M +54.3%
Retail stores $6.0M +23.6%

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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Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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