1306 Michigan AveEast Lansing, MI 48823

Property Details for 1306 Michigan Ave

Year built

1976

Lot size

0.55 AC

Property size (Sq ft)

5,040 SF

Zone code

B2

Property type

Retail space

APN

33-20-01-13-113-001

APU

33200113113001

Description

This exceptional 778-square-foot retail space, located at 1306 E Michigan Ave in East Lansing, Michigan, presents a fantastic opportunity for a restaurant operator. Situated on a high-traffic corridor, this single-tenant property enjoys excellent visibility and accessibility. Its prime location offers unparalleled convenience, with close proximity to downtown Lansing, downtown East Lansing, and the Michigan State University campus, including Spartan Stadium, Breslin Center, and the Eli Broad Art Museum. The property benefits from the substantial foot traffic generated by nearby residential complexes, such as the Midtown apartments (66 units) and SkyVue apartments (338 units). Furthermore, its location east of the Frandor Shopping Center places it within easy reach of a wide array of established national retailers and restaurants, creating a vibrant and attractive commercial environment. The entire 778 square feet is currently vacant and ready for immediate occupancy. The property is located in Ingham County, Michigan, with a zip code of 48823. This is an ideal location for a business seeking high visibility and a strong customer base in a thriving community. The property is classified as a retail space, specifically suited for a restaurant.

• CAP approach

  CAP return

  Valuation

  6%

  $463,479

  6.5%

  $427,827

  7%

  $397,268

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,188,033

  Geo Method

  $1,188,033

• Alternative Use

  Use

  Valuation

  Residential

  $360,888

  Hospitality

  $330,572

  Educational

  $275,032

  Medical

  $284,490

  Retail

  $427,827

Location Insight

City

East Lansing

County

Ingham

State

Michigan

Latitude

42.734

Longitude

-84.5008

CBSA code

29620

CBSA name

LANSING-EAST LANSING, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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