5400 Pennsylvania Ave Lansing, MI 48911

This exceptional investment opportunity presents a fully occupied, 8,450-square-foot medical office and storefront building situated on a 1.06-acre lot in Lansing, Michigan. The property boasts a strong 8.5% capitalization rate and features two tenants: NovaCare Rehabilitation and PKSA Karate, both under triple-net (NNN) leases with full CAM reimbursement. NovaCare, a subsidiary of Select Medical, has occupied the space since 1985, demonstrating long-term commitment. PKSA Karate recently expanded their space in 2021, further solidifying their presence. The leases have a remaining term of 4.6 years and include rent bumps. The property benefits from a high-traffic location on South Pennsylvania Avenue, experiencing nearly 14,000 vehicles per day, and serves a dense population of 70,000 people within a three-mile radius. Built in 1985, the single-story building is zoned commercial and offers a compelling investment with a current net operating income (NOI) of $79,455. The average rent per square foot is $9.40. Lease options are available. This fee-simple ownership opportunity provides a stable and attractive return on investment. The property's address is 5400 South Pennsylvania Avenue, Lansing, MI 48911, and the APN is 33-01-05-03-151-074. The asking price is $935,000, representing a price per square foot of $110.65.