1350 E Lake Lansing Rd - Medical FOR SALE


East Lansing, MI 48823- Whitehills
$1,350,000 USD
202-361-3050
1350 E Lake Lansing Rd, East Lansing, MI for Sale
$1,350,000 USD
Medical - FOR SALE
1/14
null | 7.78% Cap Rate

1350 E Lake Lansing Rd
East Lansing, MI 48823
Whitehills


HIGHLIGHTS

  • 100% Income producing, Steller ROI
  • Long term tenants , No Vacancies
  • COVID-19 and Recession Proof tenants
  • Strong Population 3-mile radius +84K
  • Great Income 5-mile radius +$67K
  • New Roof (2020) - 15 year warranty & New Parking Lot (2020)

OVERVIEW

Triple Net Investment Group is proud to present 1350 East Lake Lansing Road| East Lansing, Michigan (1.32 AC ). Investment Parcel is 8,791 SF building built in 1980, Roof was recently replaced (2020) with a 15 year warranty, parking lot was also replaced (2020). Property is 100% leased with no vacancy issues, its generating Strong Income with recession proof tenants. Tenants are long term and have exercised previous options in the past. Leases have built in rental increases to hedge against inflation and each tenant is metered separately for Utilities. Additional Development Parcel available for sale and has the right to develop - 6,600 SF office building for future income possibilities. Location is in close proximity to Carriage Hills Shopping Center, Michigan State University, I-69 and I-127.

FOR SALE DETAILS

PRICE

$1,350,000 USD

PRICE/SF

$166 USD /SF

CAP RATE

7.78%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

East Lansing, MI Medical Office

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

ADD'L SUBTYPES

Storefront Retail/Office, Loft/Creative Space, Office/Residential

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

1980

SPRINKLERS

-

PARKING SPACES

56

LAND DETAILS

LAND ACRES

1.6 AC

LAND SF

69,696 SF

ZONING

B 1 Office

APN/PARCEL ID

20-02-07-214-032

ASK ABOUT THIS PROPERTY

Robert GamzehTriple Net Investment Group Inc.More Info
202-361-3050

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Robert GamzehTriple Net Investment Group Inc.More Info
202-361-3050

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.