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808 W Lake Lansing Rd
East Lansing, MI 48823
Office Property For Sale
Investment Highlights
- 16,000 Vehicles Per Day
- Road Signage
- 48 Parking Spots
Executive Summary
808 W. Lake Lansing Road presents an attractive value-add office investment opportunity with existing cash flow and multiple avenues for future income growth. The 9,500 SF multi-tenant office building is currently 71% occupied with five occupied suites and two vacancies, providing an investor with immediate income while offering additional upside through lease-up.
The property generates a current NOI of $49,993.72, equating to an approximately 8.7% in-place cap rate at the $575,000 asking price. The existing tenant mix includes a therapy group, insurance group, and Michigan Head Start, providing a diversified professional tenant base. Additional income growth is expected as scheduled rental abatements within existing leases burn off, increasing effective rental revenue over time.
Situated along W. Lake Lansing Road with approximately 16,000 vehicles per day, the property benefits from strong visibility and convenient accessibility. The building also offers 48 parking spaces, providing an excellent parking ratio for professional office users. With existing income, contractual rent upside, and two vacant suites available for lease-up, 808 W. Lake Lansing Road offers investors the opportunity to increase NOI and build additional value.
The property generates a current NOI of $49,993.72, equating to an approximately 8.7% in-place cap rate at the $575,000 asking price. The existing tenant mix includes a therapy group, insurance group, and Michigan Head Start, providing a diversified professional tenant base. Additional income growth is expected as scheduled rental abatements within existing leases burn off, increasing effective rental revenue over time.
Situated along W. Lake Lansing Road with approximately 16,000 vehicles per day, the property benefits from strong visibility and convenient accessibility. The building also offers 48 parking spaces, providing an excellent parking ratio for professional office users. With existing income, contractual rent upside, and two vacant suites available for lease-up, 808 W. Lake Lansing Road offers investors the opportunity to increase NOI and build additional value.
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
9,500 SF
Building Class
C
Year Built
1981
Price
$575,000
Price Per SF
$60.53
Cap Rate
8.69%
NOI
$49,994
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
5,280 SF
Building FAR
0.31
Lot Size
0.71 AC
Zoning
RM22
Parking
48 Spaces (5.05 Spaces per 1,000 SF Leased)
Amenities
- Bus Line
- Signage
Property Taxes
| Parcel Number | 20-01-01-301-010 | Improvements Assessment | $141,300 |
| Land Assessment | $121,200 | Total Assessment | $262,500 |
Property Taxes
Parcel Number
20-01-01-301-010
Land Assessment
$121,200
Improvements Assessment
$141,300
Total Assessment
$262,500
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