Jolly Cedar Plaza 5015 S Cedar St 72,000 SF 63% Leased Retail Building Lansing, MI 48910 $3,000,000 ($41.67/SF)

INVESTMENT HIGHLIGHTS

  • Jolly Cedar Plaza is a 72,000-square-foot center on 7.2 acres, offering retail, office, and flex/warehouse space with upside and high visibility.
  • Just 2 miles from Interstates 96 and 496, the plaza is strategically located at a signalized intersection, with exposure to nearly 30,000 vehicles.
  • With nearby national retailers, local dining, and entertainment, the Plaza benefits from consistent foot traffic and a steady stream of customers.
  • Anchored by O’Reilly Auto Parts and CSL Plasma, the plaza provides stable income, brand synergy, and a solid base of loyal, recurring customers.
  • Jolly Cedar Plaza offers ample free parking, and customizable layouts cater to a variety of businesses, ideal for retailers or office users.
  • Situated near Lansing’s government offices and Michigan State University, the property taps into a diverse customer base of professionals and locals.

EXECUTIVE SUMMARY

Jolly Cedar Plaza is a 72,000-square-foot retail center located at 5015 S Cedar Street at the prime corner of Cedar Street and Jolly Road in Lansing, Michigan. Presents a unique value-add opportunity for both investors and owner/users. This well-established retail center sits on a 7.2-acre lot. It offers a variety of flexible office, retail, and flex/warehouse space, allowing businesses to thrive in a high-traffic, high-visibility environment. The plaza features a strong tenant mix, including anchor tenants like O’Reilly Auto Parts and CSL Plasma, ensuring a steady cash flow, customer base in place, and business synergy. With ample free parking, open layouts, and office configurations that can be tailored to suit various needs, the space offers flexibility for a wide range of businesses.

Strategically located just 2 miles from Interstates 96 and 496, Jolly Cedar Plaza is easily accessible and sits at a signalized intersection with nearly 30,000 daily vehicle counts, providing exceptional exposure. The property is connected to major infrastructure and close to local dining spots, entertainment venues, and government offices. Additionally, the surrounding area features national retailers such as McDonald's and AutoZone, ensuring consistent foot traffic. Lansing is the state capital, and Michigan State University is nearby, so the area attracts a significant number of government employees and students, creating a steady consumer base.

For investors, Jolly Cedar Plaza offers a compelling value-add opportunity. The existing strong tenant base provides stable cash flow, and the vacant space presents the potential for redevelopment or lease-up to increase rental income. The Lansing market is growing, with over 310,000 residents within a 10-mile radius and annual consumer spending reaching $3.7 billion. This creates an attractive environment for businesses looking to tap into a large, diverse customer base. For owner/users, the property offers an excellent opportunity to establish a business in a high-traffic location with great visibility. The flexible spaces can be customized to meet specific business needs, making it an ideal location for retail, professional services, or other business types. Jolly Cedar Plaza offers an exceptional chance to join a high-visibility, well-connected center in a vibrant and growing market.

SALE FLYER

MORE ATTACHMENTS

View Sale Brochure

PROPERTY FACTS

Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
72,000 SF
Building Class
B
Year Built
1962
Price
$3,000,000
Price Per SF
$41.67
Percent Leased
63%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.23
Lot Size
7.20 AC
Zoning
F COMM
Parking
379 Spaces (5.26 Spaces per 1,000 SF Leased)

SPACE AVAILABILITY

  • SPACE
  • SIZE
  • SPACE USE
  • POSITION
  • AVAILABLE
  • 260
  • 26,679 SF
  • Flex
  • -
  • Now
Space Size Space Use Position Available
260 26,679 SF Flex - Now

260

Size
26,679 SF
Space Use
Flex
Position
-
Available
Now

DEMOGRAPHICS

Demographics

1 Mile 1 Mi. 3 Miles 3 Mi. 5 Miles 5 Mi.
1 Mile
3 Mile
5 Mile
15 min drive
2024 Population
10,118
75,145
160,582
221,676
2029 Population
10,123
74,928
160,572
221,749
2024-2029 Projected Population Growth
0.1%
-0.3%
0.0%
0.0%
Median Age
38.1
35.5
33.6
34.2
College Degree + Higher
20%
26%
31%
22%
Daytime Employees
5,739
35,538
133,993
175,555
Total Businesses
773
3,796
10,497
15,087
Average Household Income
$57,437
$63,027
$65,974
$71,541
Median Household Income
$47,048
$49,477
$49,504
$52,548
Total Consumer Spending
$100.6M
$779.7M
$1.7B
$2.4B
2024 Households
4,322
32,239
67,883
94,571
Average Home Value
$110,566
$137,391
$153,576
$178,104

NEARBY AMENITIES

RESTAURANTS

Subway - - 4 min walk
U Like Chinese Restaurant Chinese $ 4 min walk
Little Caesars - - 7 min walk
McDonald's - - 8 min walk

HOTELS

Americas Best Value Inn
60 rooms
5 min drive
Courtyard
122 rooms
8 min drive
DoubleTree by Hilton
257 rooms
8 min drive
Hyatt House
139 rooms
11 min drive

PROPERTY TAXES

SALE ADVISOR

SALE ADVISOR

(517) 819-0338
Contact
Jim Rundell, Chief Operating Officer
(517) 819-0338
Contact
Jim Rundell serves as the Chief Operating Officer of Eyde Company, specializing in land development, office and retail sales and leasing, construction, property management, and residential apartment rentals and management.
  • Listing ID: 35658910

  • Date on Market: 4/28/2025

  • Last Updated:

  • Address: 5015 S Cedar St, Lansing, MI 48910