603 Waverly RdLansing, MI 48917
- Retail properties
- 18,000 SF
Property Details for 603 Waverly Rd
- Year built
- 1987
- Lot size
- 2.64 AC
- Property size (Sq ft)
- 18,000 SF
- Zone code
- NONE
- Property type
- Retail properties
- Property subtype
- Strip malls
- APN
- 040 069 000 062 00
- APU
- 4006900006200
Description
This Lansing, Michigan retail property, located at 603 S Waverly Rd, offers a prime investment opportunity. The single-building strip center comprises 2,253 square feet of total space, divided into three individual suites. The property is situated in Eaton County, zip code 48917, providing convenient access to nearby businesses and high traffic areas. The minimum divisible space is 1,336 square feet, while the maximum contiguous space available is the entire 2,253 square feet. This flexibility allows for a variety of tenant configurations, catering to diverse business needs. The property's location at the intersection of S Waverly Rd and W Saginaw Hwy offers excellent visibility and accessibility for potential tenants. While currently there is a significant amount of vacant space (5,709 sq ft), this presents a unique opportunity for an investor to lease the space to suitable tenants and generate substantial rental income. The property's classification as a retail strip center makes it an attractive option for businesses seeking high-traffic locations. This is an excellent opportunity to acquire a well-located retail property in a growing market. The property is ready for immediate occupancy and offers significant potential for future growth and profitability. Serious inquiries are encouraged.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $1,655,283
- 6.5%
- $1,527,954
- 7%
- $1,418,814
-
Comparable approach
- Method
- Valuation
- Relative Method
- $3,573,416
- Geo Method
- $3,573,416
-
Alternative Use
- Use
- Valuation
- Residential
- $1,288,886
- Hospitality
- $1,180,613
- Educational
- $982,256
- Medical
- $1,016,037
- Retail
- $1,527,954
Location Insight
- City
- Lansing
- County
- Eaton
- State
- Michigan
- Latitude
- 42.74
- Longitude
- -84.6038
- CBSA code
- 29620
- CBSA name
- LANSING-EAST LANSING, MI METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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