511 Washington Ave, Lansing, MI 48933-2301
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.
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Principal Financial Group Insurance Agency
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Centennial Investment Planning Insurance Agency
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All of God’s Children Charitable Organization Social Service Agency
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2020Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
G-1 BUS · Lansing, MILansing. Always verify with local authorities before improvements.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.