1417 Michigan AveLansing, MI 48912

Property Details for 1417 Michigan Ave

Year built

1906

Lot size

0.46 AC

Property size (Sq ft)

6,944 SF

Zone code

F-1 COM

Property type

Turn key restaurants

APN

33-01-01-15-259-073

APU

33010115259073

Description

This exceptional 1,440 square foot traditional office space is ideally situated at 1417 1/2 E Michigan Ave in Lansing, Michigan, 48912. Located on the second floor above the Soup Spoon Restaurant, this single-tenant property offers a convenient and accessible location for businesses seeking a professional environment. The building is a two-story structure zoned for commercial use, with the property identified by APN 33-01-01-15-259-073. The space is perfect for a variety of businesses and offers ample room for various office configurations. The lease rate is competitively priced at $10.00 per square foot, with tenants responsible for electricity. This presents a fantastic opportunity for businesses looking to establish or expand their presence in a thriving Lansing commercial district. The property's convenient location and attractive lease terms make it a highly desirable option. Interested parties are encouraged to inquire further to explore this promising opportunity. The property is easily accessible and benefits from excellent visibility. This is a rare opportunity to secure a well-located, functional office space in a desirable area of Lansing.

• CAP approach

  CAP return

  Valuation

  6%

  $627,283

  6.5%

  $579,031

  7%

  $537,671

• Comparable approach

  Method

  Valuation

  Relative Method

  $675,523

  Geo Method

  $675,523

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $1,273,940

  Mixed-Use / Specialty

  $518,465

  Hospitality / Lodging

  $304,215

  Office

  $454,452

  Institutional / Educational

  $518,086

  Residential Income

  $606,161

  Multifamily

  $1,051,320

  Automotive / Energy

  $444,074

  Parking / Income-Based Land

  $211,043

  Restaurant / Food Service

  $144,805

  Healthcare / Senior Housing

  $591,668

Location Insight

City

Lansing

County

Ingham

State

Michigan

Latitude

42.7339

Longitude

-84.5305

CBSA code

29620

CBSA name

LANSING-EAST LANSING, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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