750 Cedar St Lansing, MI 48906-5203

Property Details for 750 Cedar St

Year built

2005

Lot size

0.75 lot acres

Property size

5,964 SF

Zone code

D-1 PRO

Property type

Retail space

APN

33-01-01-09-480-002

APU

33010109480002

Description

This Lansing, MI shopping center presents a compelling value-add opportunity. The 5,964 square foot, single-story building, constructed in 2005, sits on a 0.75-acre lot and features 40 parking spaces. Currently operating at 30% occupancy with two tenants, the property offers 4,200 square feet of net rentable space, divisible into 1,500 and 2,700 square foot units. A strong anchor tenant, Bigby Coffee with a drive-thru, generates significant traffic. The property is zoned commercial and benefits from its proximity to Lansing's state capitol, Lansing Center, Lansing Community College, and Cooley Law School. Adjacent land (approximately 1.37 acres) is also available for purchase, currently generating $12,000 annual revenue via an easement agreement. The asking price is $675,000 ($113.18/sq ft). This property is ideal for quick-service restaurants, daytime service businesses, medical offices, or other retail establishments. The former 1,500 square foot Herbalife space is ready for immediate build-out. The property's APN is 33-01-01-09-480-002 & 33-01-01 09-480-062. This is a Class B, multi-tenant property with five units in total.