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123 W Allegan St
Lansing, MI 48933
Billie S. Farnum Building · Office Property For Sale
EXECUTIVE SUMMARY
- Prime Capitol Location – Located at 123 W. Allegan Street, directly across from the Michigan State Capitol.
- +/- 95, 000 Square Foot Premier Office Building | Comprehensive Renovations
- +/- $11,000,000 in Recent Capital Improvements
- Prestigious Tenant Mix – High-profile occupants
- Capitol Proximity Demand – Consistent need for professional office space from government-affiliated organizations, legal firms, and advocacy groups.
- Urban Revitalization – Expanding residential base and mixed-use investment continue to boost downtown’s live-work-play environment
- +/- 95, 000 Square Foot Premier Office Building | Comprehensive Renovations
- +/- $11,000,000 in Recent Capital Improvements
- Prestigious Tenant Mix – High-profile occupants
- Capitol Proximity Demand – Consistent need for professional office space from government-affiliated organizations, legal firms, and advocacy groups.
- Urban Revitalization – Expanding residential base and mixed-use investment continue to boost downtown’s live-work-play environment
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Building Size
94,930 SF
Building Class
B
Year Built/Renovated
1959/2012
Price
$19,648,800
Price Per SF
$206.98
Cap Rate
8.16%
NOI
$1,603,553
Percent Leased
100%
Tenancy
Multiple
Building Height
10 Stories
Typical Floor Size
8,000 SF
Building FAR
6.81
Lot Size
0.32 AC
Opportunity Zone
Yes
Zoning
G-1 General Business Dist - Commercial Zoned Property
Parking
23 Spaces (10 Spaces per 1,000 SF Leased)
AMENITIES
- 24 Hour Access
- Bus Line
- Conferencing Facility
- Fenced Lot
- Security System
- Storage Space
- Air Conditioning
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $6,548,500 | |
| Land Assessment | $67,500 | Total Assessment | $6,616,000 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$67,500
Improvements Assessment
$6,548,500
Total Assessment
$6,616,000
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