This feature is unavailable at the moment.

We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.

Please check back in a few minutes. We apologize for the inconvenience.

- LoopNet Team

Close
You must register your contact information to view secure information on this listing.
You must register your contact information to view secure information on this listing.

Share This Listing

Please enter a valid email address.

Note: To send this property to multiple individuals, insert a semi-colon between each recipient's email address.

920 characters remaining

LoopNet has taken a strong stance against the practice of sending unsolicited commercial emails, also known as "spam." Please send these emails only to people you know who would be interested in this property. If someone asks you not to send these emails to them, please comply.

We will automatically send your friend a one-time email inviting him or her to visit the site. LoopNet stores this information for the sole purpose of sending this one-time email and tracking the success of our referral program. View LoopNet's Privacy Policy

thank you

Your email has been sent!

State of Michigan Dept of Corrections 206 E Michigan Ave

108,760 SF Office Building Lansing, MI 48933 $14,900,000 ($137/SF) 10.73% Cap Rate

Office Space Michigan Lansing 206 E Michigan Ave, Lansing, MI 48933

Investment Highlights

  • Single Tenant Office Building - State of Michigan Long Term Tenant
  • Tenant has done recent substantial improvements to the property showing their commitment to this site
  • Heart of Downtown Lansing - 1 block from the Capitol

Executive Summary

206 E Michigan Ave is a well positioned office property in
Downtown Lansing, Michigan, which has been occupied by the
State of Michigan Corrections Department since 2005. The State
has a lease in place through 9/30/2028, with one 5-year renewal
option. The State completed substantial improvements to the
space in 2020, demonstrating their commitment to the property.

Attachments

Grandview Flyer new
Grandview NDA

Property Facts

Sale Type
Investment NNN
Property Type
Office
Building Size
108,760 SF
Building Class
B
Year Built
1930
Price
$14,900,000
Price Per SF
$137
Cap Rate
10.73%
NOI
$1,599,403
Tenancy
Single
Building Height
5 Stories
Typical Floor Size
21,752 SF
Slab To Slab
11’
Building FAR
4.99
Lot Size
0.50 AC
Opportunity Zone
Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning
commercial
1 of 1
Walk Score ®
Very Walkable (84)
Bike Score ®
Very Bikeable (77)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®
Learn How It Works Detailed Scores

PROPERTY TAXES

Parcel Number 01-01-16-402-002 Improvements Assessment $5,336,100
Land Assessment $87,500 Total Assessment $5,423,600

PROPERTY TAXES

Parcel Number
01-01-16-402-002
Land Assessment
$87,500
Improvements Assessment
$5,336,100
Total Assessment
$5,423,600
(616) 799-6629

Contacts

  • Listing ID: 29410982

  • Date on Market: 8/31/2023

  • Last Updated:

  • Address: 206 E Michigan Ave, Lansing, MI 48933

More public record information on 206 E Michigan Ave, Lansing, MI 48933

The Office Property at 206 E Michigan Ave, Lansing, MI 48933 is currently available for sale. Contact CBRE for more information.

Office PROPERTIES IN NEARBY NEIGHBORHOODS

Nearby Listings

1 of 10
VIDEOS
3D TOUR
PHOTOS
STREET VIEW STREET
MAP

1/10
206 E Michigan Ave, Lansing, MI for sale Building Photo- Image 1 of 10
Grandview 3
206 E Michigan Ave, Lansing, MI for sale Primary Photo- Image 2 of 10
Primary Photo
206 E Michigan Ave, Lansing, MI for sale Building Photo- Image 3 of 10
Grandview 8
206 E Michigan Ave, Lansing, MI for sale Building Photo- Image 4 of 10
Grandview 2
206 E Michigan Ave, Lansing, MI for sale Building Photo- Image 5 of 10
Grandview 4
206 E Michigan Ave, Lansing, MI for sale Building Photo- Image 6 of 10
Grandview 5
206 E Michigan Ave, Lansing, MI for sale Building Photo- Image 7 of 10
Building Photo
206 E Michigan Ave, Lansing, MI for sale Building Photo- Image 8 of 10
Building Photo
206 E Michigan Ave, Lansing, MI for sale Building Photo- Image 9 of 10
Building Photo

1 of 1

Connect with us

© 2024 CoStar Group

The LoopNet service and information provided therein, while believed to be accurate, are provided "as is". LoopNet disclaims any and all representations, warranties, or guarantees of any kind.

State of Michigan Dept of Corrections | 206 E Michigan Ave
(616) 799-6629 x

State of Michigan Dept of Corrections | 206 E Michigan Ave

1/2

Russ Bono, CCIM

(616) 799-6629

(616) 799-6629

Cameron Timmer

(616) 485-4131

(616) 485-4131

Already a member? Log In

First Name*

Last Name*

Please enter an email address.

Email*

Phone*

Ext (optional)

Company (optional)

Please leave a message.

Message*

{{messageTextLength}} out of 600

New to LoopNet? No problem. We'll automatically create a free account for you. By clicking the button, you agree to LoopNet's Terms of Use and Privacy Policy.

Hmm, there seems to have been an error sending your message. Please try again.

Thanks! Your message was sent.

Send another message

Please Share Your Feedback

We welcome any feedback on how we can improve LoopNet to better serve your needs.
X
{{ getErrorText(feedbackForm.starRating, 'rating') }}
255 character limit ({{ remainingChars() }} characters remainingover)
{{ getErrorText(feedbackForm.msg, 'rating') }}
{{ getErrorText(feedbackForm.fname, 'first name') }}
{{ getErrorText(feedbackForm.lname, 'last name') }}
{{ getErrorText(feedbackForm.phone, 'phone number') }}
{{ getErrorText(feedbackForm.phonex, 'phone extension') }}
{{ getErrorText(feedbackForm.email, 'email address') }}
You can provide feedback any time using the Help button at the top of the page.

Share Link