914 Terminal Rd Lansing, MI 48906-3063

Property Details for 914 Terminal Rd

Year built

1961

Lot size

0.46 lot acres

Property size

9,945 SF

Zone code

H LT IN

Property type

Auto shops

APN

33-01-01-05-276-051

APU

33010105276051

Description

This exceptional investment opportunity presents two buildings totaling 40,654 square feet of mixed-use space, ideally situated at 914 and 1001 Terminal Road in Lansing, Michigan. The property boasts a highly desirable 8.11% capitalization rate and is currently 100% occupied under a gross lease. The buildings are situated on a 2.27-acre lot and are zoned for industrial use. The tenant, the State of Michigan's Department of Health and Human Services (MDHHS), has a long-standing presence, having occupied the site for nearly two decades. Their commitment was recently reaffirmed with a ten-year lease renewal, further solidifying the property's stability. The MDHHS has invested over $200,000 in improvements to one of the buildings within the last two years. The property's strategic location within a cluster of state-occupied buildings ensures seamless collaboration with key state agencies, including the MDHHS Bureau of Laboratories and the Department of Environment, Great Lakes & Energy (EGLE). This prime location offers unparalleled connectivity and accessibility, making it a mission-critical asset for the State. The tenant holds an AA+ rating from Fitch, providing investors with exceptional security and a strong, reliable income stream for years to come. The asking price is $5,165,000, translating to a price per square foot of $127.04. This is a rare opportunity to acquire a stable, high-yielding investment property with a long-term, creditworthy tenant.

Location Insight

City

Lansing

County

Ingham

State

Michigan

Longitude

-84.5652

Latitude

42.7661

CBSA code

29620

CBSA name

LANSING-EAST LANSING, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments