1930 Grand Riv AveMeridian charter Township, MI 48864

Property Details for 1930 Grand Riv Ave

Year built

1978

Lot size

1.12 AC

Property size (Sq ft)

5,344 SF

Zone code

C-2

Property type

Retail space

APN

33-02-02-22-153-004

APU

33020222153004

Description

This exceptional 5,394-square-foot retail space, located at 1930 W. Grand River Ave, offers a prime opportunity for a single tenant. Situated in the Meridian Shopping area, this Class B property boasts high visibility and traffic due to its proximity to Meridian Mall. The building, constructed in 1978 and featuring one story, provides ample parking with 54 spaces. The property sits on 1.12 acres of land and is zoned C-2, allowing for a variety of uses. Previously occupied by Verizon for nearly three decades, the building has undergone numerous updates and is equipped for fiber optics and high-speed internet. The entire 5,394 square feet is currently vacant and available for lease. The lease is a NNN lease with an annual rent of $118,688, translating to a monthly rent of $9,889, or $22 per square foot. The property's address is 1930 W. Grand River Ave, with cross streets of Marsh and Grand River, and its Assessor's Parcel Number (APN) is 33-02-02-22-153-004. This location presents a unique chance to establish a thriving business in a high-demand area.

• CAP approach

  CAP return

  Valuation

  6%

  $1,344,798

  6.5%

  $1,241,352

  7%

  $1,152,684

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,259,692

  Geo Method

  $1,259,692

• Alternative Use

  Use

  Valuation

  Residential

  $1,047,127

  Hospitality

  $959,162

  Educational

  $798,012

  Medical

  $825,457

  Retail

  $1,241,352

Location Insight

City

Okemos

County

Ingham

State

Michigan

Latitude

42.7205

Longitude

-84.4181

CBSA code

29620

CBSA name

LANSING-EAST LANSING, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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