Property profile

5135 Pennsylvania Ave 65 Lansing, MI 48911

OFF-MARKET
Medical Office Space
Property ID
US43-4674861
5,714 SF 0.39 ac lot Built 1979
Entity Owned 19-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional commercial property located at 5135 S Pennsylvania Avenue Unit 5135, Lansing, MI, presents a unique investment opportunity. Boasting a substantial 2,924 square feet of office space situated on a 0.39-acre lot, this building offers significant potential for multiple businesses. Previously utilized as a medical facility, the upper level has undergone a complete remodel and is move-in ready. The building features over 15 rooms, ideal for various office configurations. Ample parking is available for both staff and clients, ensuring convenient access. Significant improvements have been made to the property, including updated mechanical systems, a new roof, and a recently resurfaced parking lot. A generator is included, providing backup power in case of outages. While one furnace is currently operational, the building's overall condition and recent upgrades make it an attractive proposition. The asking price for this versatile commercial space is $220,000. This property is ready for immediate occupancy and presents a strong opportunity for growth in the thriving Lansing market. Schedule a viewing to explore the possibilities.

Property profile

Verified
Property type Medical Office Space
Use group MEDICAL BUILDING
Year built 1979
Total area 5,714 SF
Lot 0.39 ac (16,858 SF)
Zoning code F COMM
APN 33-01-05-03-126-021
UPID US43-4674861

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
  • Physician Medical Clinic
  • Pediatrician Medical Clinic
  • Physician
  • Physician
  • Pediatrician Physician

Location

5135 Pennsylvania Ave, Unit 65 Lansing, MI 48911-4002
Lansing metro Census 5304 LANSING-EAST LANSING, MI METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
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CAP Approach CAP
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Comparable Approach Comparable
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Blend (final) Blend
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Owner & transaction history

since 2007
Last sale
$126,385
1 recorded transaction
2007
$250,000

Zoning & alternative use

F COMM · Lansing, MI

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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