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    915 Centennial Way Lansing, MI 48917
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    Property profile & analytics

    915 Centennial Way Lansing, MI 48917

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    • Office buildings
    • 17,756 SF
    • 2.34 lot acres
    For Sale
    $1,620,000
    View Listing →
    Corner Office Building with Parking For Sale
    $1,620,000

    Corner Office Building with Parking

    Office building with convenient access and onsite parking.

    915 Centennial Way, Lansing, MI 48917
    View Listing
    Property ID
    US43-2082272
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Delta Design LLC / Marketing & Advertising / IT Consulting Firm

    Property Details for 915 Centennial Way

    Year built
    1995
    Lot size
    2.34 lot acres
    Property size
    17,756 SF
    Zone code
    NONE
    Property type
    Office buildings
    APN
    040 043 700 011 00
    APU
    4004370001100

    Description

    This exceptional office property, located at 915 Centennial Way in Lansing, Michigan, offers a total of 10,132 square feet of space within a Class B building constructed in 1995. The property sits on a generous 2.34-acre lot and is zoned O. The building features multiple tenancy options, making it ideal for a variety of businesses. Currently, two immediately available suites are highlighted: Suite 320, encompassing 3,087 square feet, and Suite 380, offering 5,316 square feet. These suites are contiguous, providing the potential for a combined 8,403 square feet of office space. The property's strategic location provides convenient access to Interstate 496, ensuring effortless commutes for employees and clients. Its proximity to major employers such as Auto Owners, Amazon, and General Motors further enhances its appeal and potential for attracting a strong workforce. The property is situated in Eaton County, Michigan, with a Lansing city address and a 48917 zip code. This presents a compelling opportunity for businesses seeking high-quality office space in a desirable and accessible location. The property's traditional and executive office subtypes cater to a wide range of business needs and sizes. The address is 915 Centennial Way, Lansing, MI, conveniently located near Creyts Road.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,663,000
      Market price range: $850k - $3.47M
      AI Estimate
      $1,578,000
      Market price range: $850k - $3.47M

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Lansing
    County
    Eaton
    State
    Michigan
    Longitude
    -84.6455
    Latitude
    42.7233
    CBSA code
    29620
    CBSA name
    LANSING-EAST LANSING, MI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $28,444
    $0.00
    $0.00
    $486,300
    -
    $0.00
    $0.00
    $972,600

    Comparable in this City

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      $1,915,000
      15,832 SF

      6709 Centurion Dr

      OFFICE BUILDING • 15,832 SF
      6709 Centurion Dr, Lansing, MI 48917-8293
      View Details
    • Value Estimation
      $680,000
      3,478 SF

      6220 Campus Blvd

      OFFICE BUILDING • 3,478 SF
      6220 Campus Blvd, Lansing, MI 48917-9204
      View Details
    • Value Estimation
      $13,800,000
      102,193 SF

      6220 Campus Blvd

      OFFICE BUILDING • 102,193 SF
      6220 Campus Blvd, Lansing, MI 48917-9204
      View Details
    • Value Estimation
      $2,230,000
      19,954 SF

      822 Centennial Way

      OFFICE BUILDING • 19,954 SF
      822 Centennial Way, Lansing, MI 48917-8254
      View Details
    • Value Estimation by Request
      4,812 SF

      7706 Rickle St

      OFFICE BUILDING • 4,812 SF
      7706 Rickle St, Lansing, MI 48917-9569
      View Details
    • Value Estimation
      $620,000
      4,860 SF

      4025 Saginaw Hwy

      OFFICE BUILDING • 4,860 SF
      4025 Saginaw Hwy, Lansing, MI 48917-2152
      View Details

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    Similar Nearby for Lease

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      Well-maintained office park with high-quality tenants and convenient location.
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      Lansing Office Space: 915 Centennial Way

      Prime Lansing Office Suites Available
      915 Centennial Way, Lansing, MI 48917
      View Details
    View Listing
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    Lansing, MI 48917
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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