Property profile

565 Grand Riv Ave East Lansing, MI 48823

OFF-MARKET
Retail residential properties
Property ID
US43-2084240
47,474 SF 0.24 ac lot Built 2017
Entity Owned 21-yr Hold Absentee Owner Free & Clear
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Property summary

AI-generated overview

This exceptional medical office building, located at 565 E. Grand River Avenue in East Lansing, Michigan, offers a rare opportunity to lease high-quality space in a thriving commercial area. The property boasts a total of 4,412 square feet, currently entirely vacant and available for lease. Two contiguous spaces are available, with a minimum divisible space of 2,065 square feet and a maximum contiguous space of 2,347 square feet, providing flexibility for various medical practices. The building is ideally suited for medical professionals seeking a well-located and functional space to establish or expand their practice. The property features ample power, with 400 amps and 3-phase power available, ensuring sufficient capacity for modern medical equipment. Situated in Ingham County, this location benefits from excellent visibility and accessibility, making it an attractive option for patients and staff alike. The property's classification as both retail and office space reflects its versatility and potential for a range of medical uses. The building's multiple tenancy structure allows for the possibility of leasing the entire space or individual units, depending on the tenant's needs. This is a unique opportunity to secure a prominent location in a dynamic East Lansing market. The zip code is 48823. Contact us today to schedule a viewing and explore the possibilities.

Property profile

Verified
Property type Retail residential properties
Use group STORES & APARTMENTS
Year built 2017
Total area 47,474 SF
Lot 0.24 ac (10,542 SF)
Zoning code B3
APN 33-20-02-18-170-003
UPID US43-2084240

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
  • Cafe & Coffee Shop
  • Apartment Building

Location

565 Grand Riv Ave East Lansing, MI 48823-4495
East Lansing metro Census 4100 LANSING-EAST LANSING, MI METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$7.23M
Comparable Approach Comparable
$8.10M
Blend (final) Blend
$7.44M

Owner & transaction history

since 2005
2 recorded transactions
2016
Price N/A
2005
Price N/A

Zoning & alternative use

B3 · East Lansing, MI
Top alternative use upside
Medical building $5.9M +7.9%
Restaurant $5.5M +2.1%

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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