1808 Pennsylvania AveLansing, MI 48910

Property Details for 1808 Pennsylvania Ave

Year built

1984

Lot size

0.75 AC

Property size (Sq ft)

11,364 SF

Zone code

D-1 PRO

Property type

Medical offices

Property subtype

Medical centers

APN

33-01-01-22-353-342

APU

33010122353342

Description

This exceptional two-story medical office building, situated at 1808 S Pennsylvania Ave in Lansing, Michigan, presents a compelling investment opportunity. The 11,364 square foot building sits on a 7.5-acre lot and boasts a desirable location within three miles of the new McLaren Hospital near Michigan State University. Currently, the building features a mix of tenancies, with five individual suites. A significant portion of the building is available, with 5,494 square feet of vacant space spread across three first-floor suites, ranging from 1,488 to 2,458 contiguous square feet. These spaces are ideally suited for medical practices seeking established space in a high-traffic area. The second floor is fully occupied by a dental tenant, providing a stable income stream. Built in 1984, the property offers a solid foundation for immediate occupancy and future growth. The Ingham County location (APN 33-01-01-22-353-342) provides easy access to major transportation routes and a thriving medical community. This is a rare opportunity to acquire a well-located medical office building with significant vacancy, allowing for immediate income generation and potential for long-term appreciation. The property's size and layout offer flexibility for a variety of medical uses.

• CAP approach

  CAP return

  Valuation

  6%

  $805,696

  6.5%

  $743,720

  7%

  $690,597

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,062,990

  Geo Method

  $1,062,990

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $2,084,830

  Retail / Commercial

  $947,596

  Mixed-Use / Specialty

  $848,479

  Hospitality / Lodging

  $497,854

  Institutional / Educational

  $847,859

  Residential Income

  $991,995

  Multifamily

  $1,720,500

  Automotive / Energy

  $726,736

  Parking / Income-Based Land

  $345,376

  Restaurant / Food Service

  $236,976

  Healthcare / Senior Housing

  $968,277

Location Insight

City

Lansing

County

Ingham

State

Michigan

Latitude

42.7127

Longitude

-84.5388

CBSA code

29620

CBSA name

LANSING-EAST LANSING, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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