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    Property profile & analytics
    OFF-MARKET Estimated value $510,000
    Office buildings

    511 Washington Ave, Lansing, MI 48933-2301

    10,665 SF 0.54 ac lot Built 1950
    Entity Owned 1-yr Hold ~ Est. High Equity
    Property ID
    US43-0920883
    Property summary
    AI-generated overview

    This historic, two-story, 10,665-square-foot office building in downtown Lansing, Michigan, presents a unique investment opportunity. Built in 1950 and renovated in 2001, this Class C building (APN 33-01-01-16-455-031) is currently vacant and offers a compelling price per square foot of $112.05. The property features a spacious first floor with a reception area, restrooms, mailroom, multiple private offices of varying sizes, several conference rooms with ample natural light, 22 individual work stations, and a large training/presentation room. An original staircase leads to the second floor, which includes a large break room and additional private offices or conference rooms overlooking the first floor. The building offers convenient surface-level parking and a covered back area suitable for outdoor use. Its prime downtown location provides easy access to the Capitol, other government buildings, local businesses, and I-496. This free-standing building, formerly a transportation station, offers a blend of historic charm and modern functionality. The asking price is $1,195,000.

    Property profile
    Verified
    Property type Office buildings
    Use group OFFICE BUILDING
    Year built 1950
    Total area 10,665 SF
    Lot 0.54 ac (23,435 SF)
    Zoning code G-1 BUS
    APN 33-01-01-16-455-031
    UPID US43-0920883
    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
    • Principal Financial Group Insurance Agency
    • Centennial Investment Planning Insurance Agency
    • All of God’s Children Charitable Organization Social Service Agency
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    $395k
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    $692k
    Blend (final) Blend
    $510k
    Owner & transaction history
    Capital Area Transportation Authori · 1 yrs held
    Capital Area Transportation Authori
    since 2024
    2 recorded transactions
    2024
    1969
    Zoning & alternative use
    G-1 BUS · Lansing, MI
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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