Value-Add Interstate Adjacent Retail | 172 E Edgewood Blvd
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Value-Add Interstate Adjacent Retail 172 E Edgewood Blvd
4,285 SF Vacant Retail Building Online Auction Sale Lansing, MI 48911
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Investment Highlights
- 172 E Edgewood Boulevard presents the market an opportunity to acquire a freestanding retail restaurant totaling 4,285 square feet.
- Value-add opportunity to acquire a vacant restaurant with a flexible interior offering immense lease-up or owner/user upside.
- Offers access to a robust population of over 110,000 people who spent over $348 million on food and alcohol alone within 5 miles of the asset.
- Adjacent to a prominent neighborhood shopping center featuring Target, Five Below, Dollar Tree, Menards, Panera, and Texas Roadhouse.
- Within a densely populated retail node that features other nearby tenants like Meijer, Aldi, Harbor Freight, and Lowe's that drive constant traffic.
Executive Summary
172 East Edgewood Boulevard presents the market with a rare opportunity to acquire a flexible, vacant retail space in a highly connected portion of Lansing, Michigan. The building, which was formerly operated as a national food chain, totals 4,285 square feet of space resting on a 1.17-acre parcel. The offering includes 98 surface parking spaces, offering a new business more than enough space to accommodate guests even at full capacity. 172 E Edgewood Boulevard offers a new investor or owner/user a flexible asset with ample interior space and a shell commercial kitchen that will appeal to a wide range of new national and local chains.
The building is in a thriving commercial retail corridor just off Interstate 96 in a heavily populated suburban setting. The building offers visibility along Edgewood Avenue, a prominent retail node that sees almost 14,000 vehicles passing by daily, allowing for a massive signage opportunity for built-in tenant advertising. The demographics within 5 miles include a robust population of over 110,000 people surrounding the asset. This population earns over $68,000 a year per household and is expected to spend over $1.2 billion across all sectors by the end of 2024, specifically $348 million on food and alcohol alone. The retail corridor is highlighted by tenants like Menards, Meijer, Target, and Aldi, helping to shadow anchor this asset with a consistent flow of daily needs traffic.
The Lansing Retail Market offers investors a modest vacancy rate of just 6.4% as of the fourth quarter of 2024 and just 3.8% in the general retail segment. Rents have increased 0.9% year over year as landlords gain more leverage to negotiate lease rates. Do not miss the opportunity to acquire this critical general retail asset that is well-equipped to accommodate a new restaurant concept bolstered by solid market fundamentals, shadow-anchoring retailers, and prominent demographics.
Property tours are available by appointment only. Please contact the broker to schedule.
The building is in a thriving commercial retail corridor just off Interstate 96 in a heavily populated suburban setting. The building offers visibility along Edgewood Avenue, a prominent retail node that sees almost 14,000 vehicles passing by daily, allowing for a massive signage opportunity for built-in tenant advertising. The demographics within 5 miles include a robust population of over 110,000 people surrounding the asset. This population earns over $68,000 a year per household and is expected to spend over $1.2 billion across all sectors by the end of 2024, specifically $348 million on food and alcohol alone. The retail corridor is highlighted by tenants like Menards, Meijer, Target, and Aldi, helping to shadow anchor this asset with a consistent flow of daily needs traffic.
The Lansing Retail Market offers investors a modest vacancy rate of just 6.4% as of the fourth quarter of 2024 and just 3.8% in the general retail segment. Rents have increased 0.9% year over year as landlords gain more leverage to negotiate lease rates. Do not miss the opportunity to acquire this critical general retail asset that is well-equipped to accommodate a new restaurant concept bolstered by solid market fundamentals, shadow-anchoring retailers, and prominent demographics.
Property tours are available by appointment only. Please contact the broker to schedule.
Offering Memorandum Click Here to Access
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
- Purchase Agreement
- Third Party Reports
- Title and Insurance
- Miscellaneous
Market Analytics Click Here to Access
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Market Sale Price per SF
Lansing - MI USA
Market Cap Rate
Lansing - MI USA
Market Sale Price per SF by Star Rating
1 - 2 Star
3 Star
4 - 5 Star
Market Cap Rate by Star Rating
1 - 2 Star
3 Star
4 - 5 Star
Market Sale Price per SF Distribution
Market Cap Rate Distribution
Property Facts
Sale Type
Investment
Sale Condition
Auction Sale
Property Type
Retail
Property Subtype
Building Size
4,285 SF
Building Class
B
Year Built
2001
Tenancy
Single
Building Height
1 Story
Building FAR
0.08
Lot Size
1.17 AC
Opportunity Zone
Yes
Zoning
Commercial
Parking
98 Spaces (22.87 Spaces per 1,000 SF Leased)
Frontage
267 FT on E Edgewood Blvd
Amenities
- Bus Line
- Pylon Sign
- Signage
Space Availability
- Space
- Size
- Space Use
- Position
- Available
Great space.
| Space | Size | Space Use | Position | Available |
| 1st Floor | 4,285 SF | Restaurant | Outparcel | Now |
1st Floor
| Size |
| 4,285 SF |
| Space Use |
| Restaurant |
| Position |
| Outparcel |
| Available |
| Now |
1st Floor
| Size | 4,285 SF |
| Space Use | Restaurant |
| Position | Outparcel |
| Available | Now |
Great space.
DEMOGRAPHICS
Demographics
1 Mile
3 Mile
5 Mile
2024 Population
8,431
63,988
112,713
2020 Population
8,338
64,070
111,913
2029 Population
8,414
63,710
112,431
2024-2029 Projected Population Growth
-0.2%
-0.4%
-0.3%
Daytime Employees
4,470
28,033
73,618
Total Businesses
372
3,250
6,093
Average Household Income
$60,586
$69,235
$68,020
Median Household Income
$49,908
$53,568
$52,060
Total Consumer Spending
$85.2M
$692.3M
$1.2B
Median Age
35.4
36.1
36.2
2024 Households
3,683
27,061
48,087
Percent College Degree or Above
14%
16%
17%
Average Home Value
$147,176
$151,668
$155,214
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 01-05-09-401-004 | Improvements Assessment | $199,400 |
| Land Assessment | $88,400 | Total Assessment | $287,800 |
PROPERTY TAXES
Parcel Number
01-05-09-401-004
Land Assessment
$88,400
Improvements Assessment
$199,400
Total Assessment
$287,800
Sale Advisor
Sale Advisor
Todd Kosta, Senior VP Brokerage Services
With over fifteen years working in brokerage services and investment real estate, Todd Kosta has worked with a full range of clients and spaces within the United States. For property owners, he has actively represented all types of projects including established shopping centers in Los Angeles, Chicago and East Lansing. For occupiers, he has worked with clients requiring nationwide searches such as Goodwill Industries, clients with large space needs such as Dollar General and clients with smaller space needs such as Yum Foods and Biggby Coffee. Specific service expertise includes brokerage (acquisition and disposition), locating income-producing real estate for investor purchase, landlord and tenant representation, consulting services, strategic market planning, shopping center leasing and site selection services.
Mr. Kosta is a sound advisor making the intricate process of real estate seamless for his clients. Prior to joining Woodworth Commercial he worked with CBRE for 13 years. Mr. Kosta has helped broker the sale and leasing of assets valued over 100 million dollars. His broad based experience benefits clients locally, regionally and nationally.
Mr. Kosta is a sound advisor making the intricate process of real estate seamless for his clients. Prior to joining Woodworth Commercial he worked with CBRE for 13 years. Mr. Kosta has helped broker the sale and leasing of assets valued over 100 million dollars. His broad based experience benefits clients locally, regionally and nationally.
About the Auction Platform
Ten-X Commercial is the leading end-to-end digital transaction platform for commercial real estate. With over $26bn sold, Ten-X’s platform empowers brokers, sellers and buyers with data-driven technology and comprehensive marketing tools to expand market visibility and decrease time to close. Ten-X consistently yields trade rates at two times the industry average. Ten-X expedites the entire CRE transaction timeline by enabling brokers and sellers to tap into a digital platform that makes it easy to onboard properties, evaluate the success of complimentary omnichannel marketing campaigns and follow up on the strongest pre-qualified leads. Buyers are precision-matched with properties aligned with their investment goals, with unprecedented access to market analysis and due diligence documents to help them securely acquire properties online, with confidence.
Read More
Auction Contact
Amen Almukhtar
Contact
Auctioneer License:
Ten-X, LLC Arlene Richardson RE Brkr 6505431586
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STREET VIEW
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MAP
Transaction Fee Schedule
Based on Percentage of Winning Bid Amount.
Winning Bid Amount
Transaction Fee
$0m to < $1m
5.00% ($20,000 min)
$1m to < $3m
3.00%
$3m to < $5m
2.50%
$5m to < $10m
2.25%
$10m to < $15m
2.00%
$15m to < $25m
1.75%
$25m to < $35m
1.50%
$35M to < $45M
1.00%
$45M to < $55M
0.75%
$55M and Up
0.50%
Example Calculation
Winning Bid Amount
$4,000,000
Transaction Fee
$100,000 (2.5%)
Total Purchase Price
$4,100,000
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Value-Add Interstate Adjacent Retail | 172 E Edgewood Blvd
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