609 Jolly RdLansing, MI 48910

Property Details for 609 Jolly Rd

Year built

1969

Lot size

0.25 AC

Property size (Sq ft)

2,546 SF

Zone code

D-1 PRO

Property type

Office buildings

APN

33-01-01-33-485-001

APU

33010133485001

Description

This exceptional commercial condo at 609 E Jolly Road Unit 3, Lansing, MI, presents a unique investment opportunity. Spanning 3,526 square feet on a 0.26-acre lot, this property offers significant potential for both owner-occupancy and rental income generation. Currently configured as two suites (12A & 12B), the space is ideal for a business seeking to establish a strong presence while simultaneously leveraging additional income streams. One large unit is available, or the two suites can be utilized separately for increased revenue. The property boasts four bathrooms, providing ample convenience for employees and clients. A finished basement offers valuable extra storage space, enhancing the overall functionality of the building. Recent updates include a modernized HVAC system and updated ceiling tiles, ensuring efficient operation and a pleasant aesthetic. This prime Lansing location offers excellent visibility and accessibility, making it an attractive proposition for a wide range of businesses. The asking price is $160,000. Don't miss this chance to own your commercial space and secure a profitable investment. Schedule a showing today to explore the possibilities.

• CAP approach

  CAP return

  Valuation

  6%

  $180,509

  6.5%

  $166,624

  7%

  $154,722

• Comparable approach

  Method

  Valuation

  Relative Method

  $238,153

  Geo Method

  $238,153

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $467,086

  Retail / Commercial

  $212,300

  Mixed-Use / Specialty

  $190,094

  Hospitality / Lodging

  $111,540

  Institutional / Educational

  $189,955

  Residential Income

  $222,247

  Multifamily

  $385,463

  Automotive / Energy

  $162,819

  Parking / Income-Based Land

  $77,378.30

  Restaurant / Food Service

  $53,092.20

  Healthcare / Senior Housing

  $216,934

Location Insight

City

Lansing

County

Ingham

State

Michigan

Latitude

42.6835

Longitude

-84.545

CBSA code

29620

CBSA name

LANSING-EAST LANSING, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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