3315 Michigan AveLansing, MI 48912

Property Details for 3315 Michigan Ave

Year built

1984

Lot size

1.30 AC

Property size (Sq ft)

24,391 SF

Zone code

F COMM

Property type

Office buildings

APN

33-01-01-13-151-038

APU

33010113151038

Description

This exceptional executive office suite, totaling 5,281 square feet, is located within the popular Frandor Plus shopping center, a 120,000 square foot retail and office complex in Ingham County. The space is immediately available for lease and represents a significant opportunity for businesses seeking a high-visibility location. The property boasts a highly desirable in-line space configuration within a multi-tenant building, offering excellent accessibility and ample parking. With over 500 well-lit parking spaces available for tenants and their clients, convenience is paramount. The center enjoys a strategic location with excellent access to major thoroughfares including US-127, I-496, and 196, ensuring easy commutes for employees and clients alike. Strong anchors such as Dunham's and the Secretary of State provide significant traffic and visibility to the center. High-profile pylon and building signage opportunities are available, enhancing brand recognition and attracting potential customers. The property is zoned for commercial use, making it ideal for a variety of office-based businesses. The maximum contiguous space available is 5,281 square feet, perfectly suited for a growing company or a business seeking a prominent presence in a thriving commercial area. This is a rare opportunity to secure a well-located, high-profile office space in a bustling retail environment.

• CAP approach

  CAP return

  Valuation

  6%

  $1,729,300

  6.5%

  $1,596,270

  7%

  $1,482,260

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,281,530

  Geo Method

  $2,281,530

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $4,474,750

  Retail / Commercial

  $2,033,860

  Mixed-Use / Specialty

  $1,821,120

  Hospitality / Lodging

  $1,068,560

  Institutional / Educational

  $1,819,790

  Residential Income

  $2,129,160

  Multifamily

  $3,692,780

  Automotive / Energy

  $1,559,820

  Parking / Income-Based Land

  $741,294

  Restaurant / Food Service

  $508,630

  Healthcare / Senior Housing

  $2,078,250

Location Insight

City

Lansing

County

Ingham

State

Michigan

Latitude

42.7347

Longitude

-84.502

CBSA code

29620

CBSA name

LANSING-EAST LANSING, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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