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329-337 S Washington Sq 18,700 SF Retail Building Lansing, MI 48933 $1,950,000 ($104.28/SF) 8.59% Cap Rate



Investment Highlights
- 3 location/longterm lease anchor tenant
- 2,800 SF of unrented basement storage space
- Hard corner visibility on S. Washington Square
- Updated HVAC and roof coating
Executive Summary
Prime Downtown Lansing mixed-use asset
Hard corner visibility on S. Washington Square
9 residential apartment units
(6) 1 Bed / 1 Bath
(3) 2 Bed / 1 Bath
2 commercial tenants
Updated HVAC and roof coating
2,800 SF of unrented basement storage space
Data Room Click Here to Access
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$270,000
|
$14.44
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$270,000
|
$14.44
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$102,418
|
$5.48
|
| Net Operating Income |
$167,582
|
$8.96
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $270,000 |
| Annual Per SF | $14.44 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $270,000 |
| Annual Per SF | $14.44 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $102,418 |
| Annual Per SF | $5.48 |
| Net Operating Income | |
|---|---|
| Annual | $167,582 |
| Annual Per SF | $8.96 |
Property Facts
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- Kga Inc
- Information
- -
- -
- -
- -
Strange Matter Coffee has been in the business of artisan coffee and baked goods for more than ten years. In that time, it’s developed a reputation as an expert when it comes to the holistic coffee experience, from sourcing beans to brewing roasts to slow sipping. Strange Matter has encouraged its community to amplify the way we think about consuming coffee, taking a morning cup from a simple caffeine source to a valuable opportunity to self-reflect and meditate. For Strange Matter, it’s so, so much more than coffee.
Subway is a privately held American quick-service restaurant brand founded in 1965 by Fred DeLuca and Peter Buck in Bridgeport, Connecticut. The company began as Pete’s Super Submarines before adopting the Subway name in 1968 and later expanding through franchising in the 1970s. Its global headquarters operations now include a dual-headquarters structure, with Connecticut serving as the central location for key business functions. The organization relocated its Connecticut headquarters to Shelton, establishing its presence at 1 Corporate Drive as part of a strategic workplace modernization effort. Subway has grown into a major global restaurant brand operating tens of thousands of franchised locations worldwide. The company is owned by Roark Capital Group following its acquisition, and its franchise-based model continues to define its business structure. Over the decades, Subway has emphasized menu evolution and operational adaptation, reflecting changing industry conditions and consumer preferences. The brand remains focused on systemwide consistency and support for its network of franchise operators.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| Kga Inc | Information | - | - | - | - | |
|
Accommodation and Food Services | - | $20.00 | Modified Gross | Oct 2023 | |
|
Accommodation and Food Services | - | - | - | - |
Nearby Major Retailers
Property Taxes
| Parcel Numbers | Improvements Assessment | $725,400 | |
| Land Assessment | $54,500 | Total Assessment | $779,900 |
Property Taxes
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329-337 S Washington Sq
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