111 Edgewood BlvdLansing, MI 48911

Property Details for 111 Edgewood Blvd

Year built

1991

Lot size

5.88 AC

Property size (Sq ft)

48,089 SF

Zone code

G-2 WHO

Property type

Office buildings

APN

33-01-05-09-326-340

APU

33010509326340

Description

This exceptional 44,397 square foot Class B office/flex building presents a compelling value-add investment opportunity in Lansing, Michigan. Located at 111 W Edgewood Blvd, this single-story, 1991-built property boasts a prime location with I-96 frontage, offering excellent visibility and accessibility. The building underwent renovations in 2019 and features a desirable open floor plan with high ceilings, making it ideal for owner-occupancy or continued multi-tenant operation. Currently, the building has four tenants with an 87.39% occupancy rate, projected to reach full occupancy by February 8, 2024. The 5.88-acre lot provides ample space, complemented by 240 parking spaces. The property is zoned S-C (Suburban Commercial) and is situated near major retailers such as Target, Texas Roadhouse, and Celebration Cinema, ensuring high traffic and visibility. With a total of 44,397 net rentable square feet, the asking price is $2,200,000, translating to $49.55 per square foot. Available lease space ranges from 2,800 to 5,600 square feet, presenting further income potential. This property is designated as an Opportunity Zone, offering significant tax advantages for qualified investors. The property's strong location, flexible space, and current occupancy make it an attractive investment prospect with significant upside potential. The APN is 33-01-05-09-326-340.

• CAP approach

  CAP return

  Valuation

  6%

  $3,409,460

  6.5%

  $3,147,200

  7%

  $2,922,400

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,789,900

  Geo Method

  $3,789,900

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $8,822,360

  Retail / Commercial

  $4,009,940

  Mixed-Use / Specialty

  $3,590,500

  Hospitality / Lodging

  $2,106,770

  Institutional / Educational

  $3,587,880

  Residential Income

  $4,197,820

  Multifamily

  $7,280,650

  Automotive / Energy

  $3,075,330

  Parking / Income-Based Land

  $1,461,530

  Restaurant / Food Service

  $1,002,810

  Healthcare / Senior Housing

  $4,097,460

Location Insight

City

Lansing

County

Ingham

State

Michigan

Latitude

42.6604

Longitude

-84.554

CBSA code

29620

CBSA name

LANSING-EAST LANSING, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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