3131 Michigan AveLansing, MI 48912

Property Details for 3131 Michigan Ave

Year built

1953

Lot size

14.48 AC

Property size (Sq ft)

154,644 SF

Zone code

F COMM

Property type

Outlet malls

APN

33-01-01-14-226-021

APU

33010114226021

Description

This exceptional 80,000-square-foot industrial property, located at 3131 E Michigan Ave in Lansing, Michigan, presents a significant opportunity for businesses seeking a large-scale warehouse or flex space. The single-tenant building boasts a substantial 80,000 square feet of vacant space, ready for immediate occupancy. The high ceilings, measuring 17 feet, provide ample vertical clearance for storage and operations. Four loading docks ensure efficient loading and unloading of goods, streamlining logistical processes. The property's classification as both warehouse and flex space offers considerable versatility, accommodating a wide range of industrial and commercial uses. Situated in Ingham County, with a convenient Lansing address and zip code 48912, this location offers excellent access to transportation networks and a skilled workforce. The property is currently entirely vacant, providing a blank canvas for a new tenant to customize the space to their specific needs. This is a rare opportunity to secure a substantial, well-equipped industrial space in a prime Lansing location. The property's size and features make it suitable for a variety of businesses seeking significant warehouse or flex space in the Lansing area.

• CAP approach

  CAP return

  Valuation

  6%

  $13,969,700

  6.5%

  $12,895,100

  7%

  $11,974,000

• Comparable approach

  Method

  Valuation

  Relative Method

  $15,044,000

  Geo Method

  $15,044,000

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $28,370,800

  Mixed-Use / Specialty

  $11,546,300

  Hospitality / Lodging

  $6,774,910

  Office

  $10,120,700

  Institutional / Educational

  $11,537,900

  Residential Income

  $13,499,300

  Multifamily

  $23,413,000

  Automotive / Energy

  $9,889,600

  Parking / Income-Based Land

  $4,699,960

  Restaurant / Food Service

  $3,224,820

  Healthcare / Senior Housing

  $13,176,500

Location Insight

City

Lansing

County

Ingham

State

Michigan

Latitude

42.735

Longitude

-84.5067

CBSA code

29620

CBSA name

LANSING-EAST LANSING, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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