Property profile & analytics
940 Trowbridge Rd Rds East Lansing, MI 48823-5218
- Grocery and convenience stores
- 26,858 SF
- 4.28 lot acres
OFF-MARKET
Value Estimations
$3,055,000
Show details
Cap Rate Potential
Location Intelligence
Property ID
US43-2919464
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.
Current Use by Public Records
- Grocery and convenience stores
Property Details for 940 Trowbridge Rd Rds
- Year built
- 1962
- Lot size
- 4.28 lot acres
- Property size
- 26,858 SF
- Zone code
- B2
- Property type
- Grocery and convenience stores
- APN
- 33-20-01-24-122-022
- APU
- 33200124122022
Description
Trowbridge Village offers a unique investment opportunity in a thriving Lansing, Michigan location. This four-story, 48,477 square foot building, constructed in 2020, features five available suites ranging from 1,649 to 2,598 contiguous square feet. The property is zoned B2 Retail Sales and sits on 1.03 acres of land, providing ample space and parking for tenants and customers. With 40 total parking spaces, convenient access is ensured. The building's strategic location directly adjacent to a proposed MSU stadium, new retail developments, and several housing projects offers unparalleled exposure and high foot traffic potential. Its proximity to major roadways, including I-496 and US-127, ensures easy accessibility. The location also benefits from its close proximity to Michigan State University (over 50,000 students and 13,000 faculty), the Lansing State Capitol, and the Breslin Events Center. Further enhancing its appeal is the new McLaren Greater Lansing Hospital (28,000 employees), located just 1.3 miles south. A proposed MSU housing development directly across the street promises continued growth and increased demand. This property presents a compelling opportunity for businesses seeking a high-visibility location within a dynamic and expanding area. The building's multiple suite options cater to a variety of business needs, making it an ideal investment for both single and multi-tenant occupancy. Ingham County location.
Value Estimations
based on Realmo’s proprietary methodology
-
CAP approach
- CAP Return
- Estimation
- 6%
- $3,085,000
- 6.5%
- $2,850,000
- 7%
- $2,645,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $2,906,000
- AI Estimate
- $3,407,000
Market price range: $1.16M - $3.14MMarket price range: $1.38M - $3.58M -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $2,130,000 Current use
- MEDICAL BUILDING
- $3,310,000 Change: +55% Conversion: Difficult
- RESTAURANT
- $3,130,000 Change: +47% Conversion: Easy
- COMMERCIAL (GENERAL)
- $3,070,000 Change: +44% Conversion: Easy
- AUTO REPAIR, GARAGE
- $2,705,000 Change: +27% Conversion: Difficult
- OFFICE BUILDING
- $2,660,000 Change: +25% Conversion: Easy
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Location Insight
- Map
- Local Demand
- City
- East Lansing
- County
- Ingham
- State
- Michigan
- Longitude
- -84.4949
- Latitude
- 42.72
- 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
2022
$139,314
$745,800
$1,162,400
$1,908,200
-
$1,491,600
$2,324,800
$3,816,400
