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East Lansing, MI Medical Office 1350 E Lake Lansing Rd 8,109 SF 40% Leased Office Building East Lansing, MI 48823 $1,273,500 ($157.05/SF) 8.25% Cap Rate
INVESTMENT HIGHLIGHTS
- 100% Income producing, Steller ROI
- COVID-19 and Recession Proof tenants
- Great Income 5-mile radius +$67K
- Long term tenants , No Vacancies
- Strong Population 3-mile radius +84K
- New Roof (2020) - 15 year warranty & New Parking Lot (2020)
EXECUTIVE SUMMARY
Triple Net Investment Group is proud to present 1350 East Lake Lansing Road| East Lansing, Michigan (1.32 AC ). Investment Parcel is 8,791 SF building built in 1980, Roof was recently replaced (2020) with a 15 year warranty, parking lot was also replaced (2020). Property is 100% leased with no vacancy issues, its generating Strong Income with recession proof tenants. Tenants are long term and have exercised previous options in the past. Leases have built in rental increases to hedge against inflation and each tenant is metered separately for Utilities. Additional Development Parcel available for sale and has the right to develop - 6,600 SF office building for future income possibilities. Location is in close proximity to Carriage Hills Shopping Center, Michigan State University, I-69 and I-127.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Office
Property Subtype
Building Size
8,109 SF
Building Class
B
Year Built
1980
Price
$1,273,500
Price Per SF
$157.05
Cap Rate
8.25%
NOI
$105,064
Percent Leased
40%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
8,109 SF
Building FAR
0.12
Lot Size
1.60 AC
Zoning
B 1 Office - Allows for professional and general office use. Salons and spas also permitted use.
Parking
56 Spaces (6.91 Spaces per 1,000 SF Leased)
AMENITIES
- 24 Hour Access
- Property Manager on Site
- Signage
- Kitchen
- Fully Carpeted
- Monument Signage
- Air Conditioning
SPACE AVAILABILITY
- SPACE
- SIZE
- SPACE USE
- CONDITION
- AVAILABLE
- 1st Fl-Ste B
- 2,721 SF
- Office
- -
- Now
Up to 4,866 SF Medical Office Suite on Lake Lansing Road Nicely Finished Medical Suite in Area with Above Average Demographics.
| Space | Size | Space Use | Condition | Available |
| 1st Fl-Ste B | 2,721 SF | Office | - | Now |
| 1st Fl-Ste C | 2,145 SF | Office | - | Now |
1st Fl-Ste B
| Size |
| 2,721 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
1st Fl-Ste C
| Size |
| 2,145 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
1st Fl-Ste C
| Size | 2,145 SF |
| Space Use | Office |
| Condition | - |
| Available | Now |
Up to 4,866 SF Medical Office Suite on Lake Lansing Road Nicely Finished Medical Suite in Area with Above Average Demographics.
PROPERTY TAXES
| Parcel Number | 20-02-07-214-032 | Improvements Assessment | $84,400 |
| Land Assessment | $273,100 | Total Assessment | $357,500 |
PROPERTY TAXES
Parcel Number
20-02-07-214-032
Land Assessment
$273,100
Improvements Assessment
$84,400
Total Assessment
$357,500
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East Lansing, MI Medical Office | 1350 E Lake Lansing Rd
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