3101 Saginaw StLansing, MI 48912

Property Details for 3101 Saginaw St

Year built

1947

Lot size

0.95 AC

Property size (Sq ft)

14,289 SF

Zone code

F COMM

Property type

Retail properties

Property subtype

Retail space

APN

33-01-01-11-451-002

APU

33010111451002

Description

Medawar Strip Center, located at 3101 E Saginaw St, Lansing, MI 48912, presents a unique opportunity for restaurant businesses seeking a high-visibility location. This single-story, 1947-built property underwent renovations in 2000 and offers multiple spaces, with a minimum of 1,020 square feet and a maximum contiguous space of 2,373 square feet. The center is situated on a major commercial corridor in Central Lansing, at the intersection of E Saginaw St, Clippert St, and US-127, ensuring high foot traffic and excellent visibility. Its strategic location provides easy access to Michigan State University campus and the Frandor Shopping Center, further enhancing its appeal. The property benefits from its placement on a bus line and at a signalized intersection, improving accessibility. Ample parking is available with approximately 57 free spaces. The property is zoned F Commercial (Retail) and has an APN of 33-01-01-11-451-002. This is an exceptional opportunity to establish or expand a restaurant business in a thriving Lansing location. The building's total square footage is not specified.

• CAP approach

  CAP return

  Valuation

  6%

  $1,314,019

  6.5%

  $1,212,941

  7%

  $1,126,302

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,368,214

  Geo Method

  $3,368,214

• Alternative Use

  Use

  Valuation

  Residential

  $1,023,161

  Hospitality

  $937,210

  Educational

  $779,748

  Medical

  $806,564

  Retail

  $1,212,941

Location Insight

City

Lansing

County

Ingham

State

Michigan

Latitude

42.7413

Longitude

-84.5079

CBSA code

29620

CBSA name

LANSING-EAST LANSING, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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