Property profile

5002 Saginaw Hwy Lansing, MI 48917

OFF-MARKET
Strip malls
Property ID
US43-2088838
36,000 SF 3.4 ac lot Built 1969
Entity Owned 3-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional investment opportunity presents a fully leased, 36,000 square foot retail shopping center and storefront located at 5002 W Saginaw Hwy, Lansing, MI 48917. The property boasts 100% occupancy with three long-term tenants: GrowGeneration, World Buffet, and Little Red Schoolhouse Antiques, ensuring consistent cash flow. Built in 1969, this single-story building sits on a 3.4-acre lot and features 160 parking spaces, ample for tenants and customers. The property is zoned C-Commercial, providing flexibility for future uses. With a strong 9.48% cap rate and a price per square foot of $90.28, this represents a compelling return on investment. The property's prime location on a high-traffic thoroughfare in Lansing, Eaton County, guarantees excellent visibility and accessibility. This well-maintained asset offers a stable and lucrative investment opportunity in a thriving market. The asking price is $3,250,000. The property's diverse tenant mix contributes to its stability and long-term potential. This is a rare chance to acquire a high-performing retail property with significant upside. The parcel number is 04001230017000.

Property profile

Verified
Property type Strip malls
Use group SHOPPING CENTER, STRIP CENTER
Year built 1969
Total area 36,000 SF
Lot 3.4 ac (148,104 SF)
Zoning code NONE
APN 040 012 300 170 00
UPID US43-2088838

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
  • Garden Center
  • Home Decor Store (Bike/Boat/Book/etc) Store
  • Furniture & Home Goods Home Decor Store
  • Restaurant Buffet

Location

5002 Saginaw Hwy Lansing, MI 48917-2659
Lansing metro Census 20103 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
$1.48M
Blend (final) Blend
$2.44M

Owner & transaction history

since 2023
2 recorded transactions
2023
$2.6M
2021
$1.6M

Zoning & alternative use

NONE · Lansing, MI
Top alternative use upside
Commercial (general) $3.2M +78.2%
Retail stores $3.0M +71.6%
Medical building $2.8M +56.0%

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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