836 Centennial Way Lansing, MI 48917-8237
- Office buildings
- 2,214 SF
- 0.06 lot acres
Current Use by Public Records
- Harley David a PhD / Psychologist
- Patricia R. Longan, PH / Psychologist
- Mid-Michigan Insurance Services / Life Insurance Agency
- Megumi Akehi, LLPC / Counselor
- Reflections Counseling / Social Worker
Property Details for 836 Centennial Way
- Year built
- 1992
- Lot size
- 0.06 lot acres
- Property size
- 2,214 SF
- Zone code
- NONE
- Property type
- Office buildings
- APN
- 040 087 800 010 00
- APU
- 4008780001000
Description
This fee-simple, Class B office condo at 836 Centennial Way, Lansing, MI 48917, presents a compelling sale-leaseback opportunity. The 3,348 square-foot building, constructed in 1992 and situated on a 0.22-acre lot, boasts a 95% occupancy rate with three tenants: Edward Jones, and David Ambrose and Associates CPAS. The modified lease structure provides a stable income stream, reflected in the strong net operating income (NOI) of $29,259, yielding a 9.00% cap rate. The asking price is $325,000, translating to $97.07 per square foot and $108,333.33 per unit. The property features a recently upgraded parking lot and benefits from its location in a popular Lansing office park. The building consists of one single-story structure with three individual units. The property's strong tenancy, attractive location, and solid financial performance make it an ideal investment for those seeking a stable, income-generating asset in a desirable market. The APN is 040-087-800-030-00. This is a multi-tenant property with long-term tenants.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Lansing
- County
- Eaton
- State
- Michigan
- Longitude
- -84.6468
- Latitude
- 42.7245
- CBSA code
- 29620
- CBSA name
- LANSING-EAST LANSING, MI METROPOLITAN STATISTICAL AREA
