8531 Lansing RdDurand, MI 48429

Property Details for 8531 Lansing Rd

Year built

1998

Lot size

1.57 AC

Property size (Sq ft)

11,100 SF

Zone code

C-2

Property type

Drug stores

APN

020-82-104-001

APU

2082104001

Description

This exceptional retail property in Durand, Michigan, presents a significant leasing opportunity. Located at 8531 Lansing Rd, 48429, this single-tenant building offers 11,082 square feet of well-maintained space. Formerly a Rite Aid pharmacy, the property boasts a convenient drive-thru, enhancing its appeal to a wide range of potential tenants. The building's strategic location just off the freeway ensures high visibility and accessibility, maximizing exposure to a substantial customer base. The open layout provides flexibility for various retail configurations, and the property's prominent positioning ensures strong customer attention. The 1.57 acres of land offer ample space for parking and potential future expansion. While currently configured for a single tenant, the space could potentially be subdivided to accommodate multiple businesses. This adaptable design and prime location make it an ideal choice for businesses seeking a high-traffic, easily accessible retail space in a thriving Michigan community. The property is ready for immediate occupancy and offers a unique chance to establish a successful retail presence in a desirable market. Interested parties are encouraged to inquire for further details and leasing options.

• CAP approach

  CAP return

  Valuation

  6%

  $2,793,274

  6.5%

  $2,578,406

  7%

  $2,394,234

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,616,501

  Geo Method

  $2,616,501

• Alternative Use

  Use

  Valuation

  Residential

  $2,174,982

  Hospitality

  $1,992,272

  Educational

  $1,657,547

  Medical

  $1,714,553

  Retail

  $2,578,406

Location Insight

City

Durand

County

Shiawassee

State

Michigan

Latitude

42.9254

Longitude

-83.9949

CBSA code

29620

CBSA name

LANSING-EAST LANSING, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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