5118 S Martin Luther King Jr Blvd - Drug Store FOR SALE


Lansing, MI 48911- Southeast Lansing
$850,000 USD
937-206-1925
5118 S Martin Luther King Jr Blvd, Lansing, MI for Sale
$850,000 USD
Drug Store - FOR SALE
1/20
null | Request Cap Rate

NEW


5118 S Martin Luther King Jr Blvd
Lansing, MI 48911
Southeast Lansing


HIGHLIGHTS

  • Freestanding 10,880 SF former CVS on 1.35 acres with strong frontage, visibility, and two points of access.
  • Established Lansing retail corridor surrounded by national retailers, restaurants, services, and dense residential neighborhoods.
  • Flexible MX-C zoning with strong trade area demographics, including approximately 151,987 people and 64,394 households within 5 miles.

OVERVIEW

Property Highlights Freestanding former CVS building located at 5118 S. Martin Luther King Jr. Boulevard in Lansing, just south of the Michigan State Capitol. 10,880 SF building on 1.35 acres, offering a rare opportunity for a full-building user, medical operator, discount retailer, specialty grocer, service provider, or redevelopment concept. Excellent frontage and visibility along S. Martin Luther King Jr. Boulevard with two points of access, making the site easy to identify and convenient for customers. Located in an established Lansing retail corridor surrounded by national and local retailers, restaurants, service businesses, and dense residential neighborhoods. MX-C Mixed-Use Urban Corridor zoning provides flexibility for a wide range of commercial and mixed-use concepts. Strong nearby consumer base with approximately 151,987 people and 64,394 households within a 5-mile radius. Significant daytime population with approximately 86,495 employees and 5,460 businesses within 5 miles. Existing pharmacy box layout provides a highly adaptable floor plan with open retail area, back-of-house space, parking, loading/service access, and strong building identity. The site offers a strong combination of size, access, visibility, parking, and corridor location, making it well-positioned for a variety of users looking to serve Lansing’s south side and central city trade area.

FOR SALE DETAILS

PRICE

$850,000 USD

PRICE/SF

$78 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Single

SALE TYPE

Owner User

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2001

SPRINKLERS

-

PARKING SPACES

68

LAND DETAILS

LAND ACRES

1.35 AC

LAND SF

58,806 SF

ZONING

MX-C

APN/PARCEL ID

01-05-05-202-153

ASK ABOUT THIS PROPERTY

Douglas KlangBerkshire Hathaway Commercial ServicesMore Info
937-206-1925

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Douglas KlangBerkshire Hathaway Commercial ServicesMore Info
937-206-1925

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