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Property profile & analytics
OFF-MARKET Estimated value $895,000
Strip malls

603 Waverly Rd Lansing, MI 48917-2800

18,000 SF 2.64 ac lot Built 1987
Entity Owned 12-yr Hold Absentee Owner Free & Clear
Property ID
US43-2462460
Property summary
AI-generated overview

This Lansing, Michigan retail property, located at 603 S Waverly Rd, offers a prime investment opportunity. The single-building strip center comprises 2,253 square feet of total space, divided into three individual suites. The property is situated in Eaton County, zip code 48917, providing convenient access to nearby businesses and high traffic areas. The minimum divisible space is 1,336 square feet, while the maximum contiguous space available is the entire 2,253 square feet. This flexibility allows for a variety of tenant configurations, catering to diverse business needs. The property's location at the intersection of S Waverly Rd and W Saginaw Hwy offers excellent visibility and accessibility for potential tenants. While currently there is a significant amount of vacant space (5,709 sq ft), this presents a unique opportunity for an investor to lease the space to suitable tenants and generate substantial rental income. The property's classification as a retail strip center makes it an attractive option for businesses seeking high-traffic locations. This is an excellent opportunity to acquire a well-located retail property in a growing market. The property is ready for immediate occupancy and offers significant potential for future growth and profitability. Serious inquiries are encouraged.

Property profile
Verified
Property type Strip malls
Use group SHOPPING CENTER, STRIP CENTER
Year built 1987
Total area 18,000 SF
Lot 2.64 ac (114,998 SF)
Zoning code NONE
APN 040 069 000 062 00
UPID US43-2462460
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
  • America's Best Hearing Hearing Aid Store
  • Clock Mobility Production Facility
  • Pure Enchantment Photography Photography Service (Bike/Boat/Book/etc) Store
  • Total Health Spine & Nutrition Alternative Medicine Practice
  • Advanced Spine & Posture - Lansing Alternative Medicine Practice
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$895k
Blend (final) Blend
$895k
Owner & transaction history
Waverly Road Partners LLC · 12 yrs held
Waverly Road Partners LLC
since 2014
3 recorded transactions
2024
Price N/A
2016
Price N/A
2014
$500,000
Zoning & alternative use
NONE · Lansing, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source code of ordinances
Top alternative use upside
Medical building $1.4M +56.0%
Auto repair, garage $1.3M +50.6%
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