3222 Martin Luther King Jr BlvdLansing, MI 48910

Property Details for 3222 Martin Luther King Jr Blvd

Year built

1962

Lot size

28.43 AC

Property size (Sq ft)

142,780 SF

Zone code

F COMM

Property type

Retail properties

Property subtype

Strip malls

APN

33-01-01-29-451-013

APU

33010129451013

Description

This exceptional Class A commercial property, located at 3222 S. Martin Luther King Jr. Blvd in Lansing, Michigan, presents a unique investment opportunity. Comprising two buildings totaling 277,802 square feet on a sprawling 28.43-acre lot, this multi-tenant complex offers a diverse range of office spaces, suitable for traditional, executive, medical, and creative businesses. Built in 1988 and extensively renovated in 2008, the property boasts 27 suites, with the largest contiguous space measuring 27,638 square feet and smaller spaces available down to 1,000 square feet. The property's versatile design caters to various business needs, making it an ideal location for a variety of tenants. Situated in Ingham County, this prime location benefits from high visibility and convenient access, enhanced by ample parking and recently upgraded parking lot lighting. The property's diverse tenant mix includes established businesses such as Young's Beauty Supplies, All Washed Up, Logan Square Auto Care, Vip Fashion, Michelle Nails, Dollar Tree, Great Giant Market, and Subway, demonstrating strong occupancy and rental potential. This property is zoned for retail, office, and restaurant uses. The property's size and location make it an attractive option for both individual tenants and larger organizations seeking a prominent presence in the Lansing market. This is a rare opportunity to acquire a well-established, high-quality commercial property in a thriving area.

• CAP approach

  CAP return

  Valuation

  6%

  $13,130,075

  6.5%

  $12,120,070

  7%

  $11,254,350

• Comparable approach

  Method

  Valuation

  Relative Method

  $28,354,578

  Geo Method

  $28,354,578

• Alternative Use

  Use

  Valuation

  Residential

  $10,223,732

  Hospitality

  $9,364,884

  Educational

  $7,791,474

  Medical

  $8,059,434

  Retail

  $12,120,070

Location Insight

City

Lansing

County

Ingham

State

Michigan

Latitude

42.6991

Longitude

-84.5702

CBSA code

29620

CBSA name

LANSING-EAST LANSING, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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