206 Michigan AveLansing, MI 48933

This exceptional investment opportunity presents a Class B, three-story office building totaling 101,893 square feet (96,990 net rentable) situated on a 0.402-acre lot in downtown Lansing, Michigan. The property, located at 206 E Michigan Ave, is currently 100% occupied by the State of Michigan Corrections Department under a lease extending to September 30, 2028, with a single five-year renewal option. The building underwent substantial renovations in 2020, showcasing the tenant's long-term commitment. This single-tenant building offers a compelling investment profile with an asking price of $14,900,000, translating to a price per square foot of $146.23 and an attractive 10.73% cap rate. The property is zoned for commercial use and features a modified lease type. The building's address is 206 E Michigan Ave, Lansing, MI 48933, with the APN 33-01-01-16-402-002. This is a fee-simple ownership opportunity. The property's prime downtown location and strong tenant occupancy make it an ideal addition to any commercial real estate portfolio. The building's substantial size and recent renovations ensure a stable and lucrative investment for years to come.