835 Genesee StLansing, MI 48915

Property Details for 835 Genesee St

Lot size

2.17 AC

Property size (Sq ft)

20,710 SF

Property type

Office buildings

APN

33-01-01-17-232-002

APU

33010117232002

Description

This exceptional 2.166-acre property at 835 W Genesee St in Lansing, Michigan, presents a unique redevelopment opportunity. The former Genesee Elementary School building offers a substantial 23,590 square feet of space, currently zoned Commercial-Improved, allowing for a wide range of development possibilities. The property's location in downtown Lansing offers excellent visibility and accessibility, with the added benefit of proximity to the main campus of Lansing Community College. The existing structure, while requiring renovation or repurposing, provides a solid foundation for a significant project. Preliminary assessments suggest the potential for the creation of 34 to 36 residential or commercial units, making this a highly attractive investment for developers seeking a substantial project in a thriving urban setting. The property's size and zoning provide flexibility for various development plans, catering to a diverse range of potential uses. With its strategic location and considerable square footage, this property represents a compelling investment opportunity in a dynamic and growing Michigan city. The 48915 zip code offers access to a vibrant community and established infrastructure. This is a rare chance to acquire a large-scale property with significant development potential in a desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $1,295,575

  6.5%

  $1,195,916

  7%

  $1,110,493

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,937,213

  Geo Method

  $1,937,213

• Alternative Use

  Use

  Valuation

  Residential

  $1,482,935

  Hospitality

  $1,358,361

  Educational

  $1,130,140

  Medical

  $1,169,007

  Retail

  $1,757,996

Location Insight

City

Lansing

County

Ingham

State

Michigan

Latitude

42.7381

Longitude

-84.5638

CBSA code

29620

CBSA name

LANSING-EAST LANSING, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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