410 Clippert StLansing, MI 48912

Property Details for 410 Clippert St

Year built

1980

Lot size

0.57 AC

Property size (Sq ft)

11,976 SF

Zone code

F COMME

Property type

Retail properties

Property subtype

Bars

APN

33-21-01-14-453-014

APU

33210114453014

Description

This exceptional 11,976-square-foot free-standing restaurant building, located at 410 S Clippert St in Lansing, Michigan (48912), presents a unique investment opportunity. Situated near Michigan State University's campus and conveniently accessible via US-127/I-496, this property boasts a prime location. Built in 1980 and extensively renovated in 2020, the single-story building sits on a 1.7-acre lot. The interior features a beautifully renovated space with a versatile layout including booths, tables, bar seating, and a lounge area. A sunken dance floor offers flexible use, potentially converting to additional seating. The property also includes a rear enclosed patio with an outdoor bar, perfect for expanding the seating capacity. The expansive kitchen is equipped with multiple prep areas, a large hood system, a dishwashing station, and a substantial walk-in cooler. The property's total capacity is 600, and all furniture, fixtures, and equipment (FF&E) are included in the sale. A liquor license is available for an additional $59,000. This NNN-leased, vacant property is priced at $1,095,000 ($91.43 per square foot) and represents a significant opportunity for a discerning investor. Its proximity to MSU and the new Red Cedar Development makes it an ideal location for a thriving business. The property offers ample seating, a private party area, and convenient highway access.

• CAP approach

  CAP return

  Valuation

  6%

  $1,101,315

  6.5%

  $1,016,599

  7%

  $943,984

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,822,992

  Geo Method

  $2,822,992

• Alternative Use

  Use

  Valuation

  Residential

  $857,539

  Hospitality

  $785,501

  Educational

  $653,528

  Medical

  $676,004

  Retail

  $1,016,599

Location Insight

City

Lansing

County

Ingham

State

Michigan

Latitude

42.7295

Longitude

-84.509

CBSA code

29620

CBSA name

LANSING-EAST LANSING, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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