221 Lake Lansing RdEast Lansing, MI 48823

Property Details for 221 Lake Lansing Rd

Year built

1990

Lot size

8.86 AC

Property size (Sq ft)

7,729 SF

Zone code

B4

Property type

Office buildings

APN

33-20-01-01-408-019

APU

33200101408019

Description

This exceptional 7,500 square foot Class B medical office building, located at 221 W. Lake Lansing Rd, Suite 300, in East Lansing, Michigan, presents a unique investment opportunity. Situated in the desirable Asher Court Office Park, this property offers multiple suites, with a minimum divisible space of 2,284 square feet and a maximum contiguous space of 3,927 square feet. Currently, 6,211 square feet is available for lease. The building features a total of two suites, providing flexibility for various medical practices or healthcare-related businesses. Ample free parking is provided for tenants and their clients. The property is conveniently located in Ingham County, with easy access to major roadways and local amenities. The lease rate is $15.75 per square foot, modified gross, and lease terms are negotiable. This presents a compelling opportunity to establish or expand a medical practice in a thriving East Lansing location. The property's zip code is 48823. This is a fantastic opportunity to secure a well-located, functional medical office space in a highly sought-after area.

• CAP approach

  CAP return

  Valuation

  6%

  $483,510

  6.5%

  $446,317

  7%

  $414,437

• Comparable approach

  Method

  Valuation

  Relative Method

  $722,971

  Geo Method

  $722,971

• Alternative Use

  Use

  Valuation

  Residential

  $553,433

  Hospitality

  $506,942

  Educational

  $421,770

  Medical

  $436,275

  Retail

  $656,086

Location Insight

City

East Lansing

County

Ingham

State

Michigan

Latitude

42.7577

Longitude

-84.4854

CBSA code

29620

CBSA name

LANSING-EAST LANSING, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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