107 Washington SqLansing, MI 48933

Property Details for 107 Washington Sq

Year built

1885

Lot size

0.04 AC

Property size (Sq ft)

4,545 SF

Zone code

G-1 BUS

Property type

Retail space

APN

33-01-01-16-183-043

APU

33010116183043

Description

This exceptional 1,740-square-foot restaurant space is ideally situated on the bustling main retail strip of downtown Lansing, Michigan, at the corner of Michigan Avenue and Washington Square. Its prime location offers unparalleled visibility and accessibility, boasting heavy pedestrian and vehicular traffic. The property is a single-tenant space, perfect for an established restaurant operator looking to expand or a new business seeking a high-traffic location. The building is situated just one block from the state Capitol, City Hall, and the Radisson Hotel, ensuring a consistent flow of customers. This location benefits from a vibrant and diverse culinary scene, with neighboring establishments including Pita Pit, Empire Szechuan, The Peanut Shop, Jimmy Johns, Zoup!, Grand Traverse Pie Company, Firehouse Subs, Kelly's Irish Pub, Troppo, and more. The existing restaurant equipment is available as part of the sale, presenting a significant advantage for a prospective buyer. This turnkey opportunity allows for immediate operation, minimizing start-up costs and maximizing potential returns. The address is 107 S Washington Square, Lansing, MI 48933. This is a rare chance to acquire a thriving restaurant space in a highly sought-after downtown location. The property is conveniently located adjacent to Juice Nation, further enhancing its appeal and visibility within the community.

• CAP approach

  CAP return

  Valuation

  6%

  $417,959

  6.5%

  $385,808

  7%

  $358,251

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,071,351

  Geo Method

  $1,071,351

• Alternative Use

  Use

  Valuation

  Residential

  $325,444

  Hospitality

  $298,105

  Educational

  $248,020

  Medical

  $256,549

  Retail

  $385,808

Location Insight

City

Lansing

County

Ingham

State

Michigan

Latitude

42.7339

Longitude

-84.5526

CBSA code

29620

CBSA name

LANSING-EAST LANSING, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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