111 Saginaw StEast Lansing, MI 48823

Property Details for 111 Saginaw St

Year built

2007

Lot size

2.14 AC

Property size (Sq ft)

14,637 SF

Zone code

B2

Property type

Drug stores

APN

33-20-02-07-300-008

APU

33200207300008

Description

This exceptional 14,564-square-foot retail building, constructed in 2007, presents a remarkable investment opportunity in the vibrant heart of East Lansing, Michigan. Located at 111 E Saginaw St, this single-tenant building sits on a 2.14-acre lot and offers unparalleled visibility and accessibility. The property boasts a highly desirable location at a lighted intersection on a major thoroughfare, experiencing over 47,000 vehicles per day. Its strategic placement near the intersection of Abbot Road and Saginaw Street ensures maximum exposure to a substantial daily traffic flow. The building's proximity to Michigan State University, with its over 50,000 students, creates a significant pool of potential customers. Furthermore, its location is just 1.9 miles from major retailers such as JoAnn Fabrics, McDonald's, Petco, and T.J. Maxx, further enhancing its appeal and accessibility. The entire 14,564 square feet is currently vacant, providing a blank canvas for a wide range of retail ventures. This property is situated in Ingham County, Michigan, with a zip code of 48823. The building's single-tenant configuration offers simplicity and efficiency for potential occupants. This is a rare opportunity to acquire a prime retail space in a thriving East Lansing market.

• CAP approach

  CAP return

  Valuation

  6%

  $1,346,021

  6.5%

  $1,242,481

  7%

  $1,153,732

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,450,245

  Geo Method

  $3,450,245

• Alternative Use

  Use

  Valuation

  Residential

  $1,048,079

  Hospitality

  $960,035

  Educational

  $798,738

  Medical

  $826,208

  Retail

  $1,242,481

Location Insight

City

East Lansing

County

Ingham

State

Michigan

Latitude

42.7475

Longitude

-84.4829

CBSA code

29620

CBSA name

LANSING-EAST LANSING, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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