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206 S Washington Sq
Lansing, MI 48933

Cottage Inn & Residential Mixed Use Building · Retail Property For Sale

Retail Space Michigan Lansing 206 S Washington Sq, Lansing, MI 48933

Investment Highlights

  • 2nd floor is 3 loft apartments comprised of (1) 2bd/1ba and (2) 1bd/1ba units.
  • 2,071 vehicles per day on S Washington Square.
  • Less than 500’ from the Michigan State Capital building.
  • Daytime population is over 125,000 within 3-miles.
  • 12,122 people within a 1-mile radius.
  • Highest volume corporate operated location.

Executive Summary

Mixed-use building in downtown Lansing. Ground floor leased to Cottage Inn Pizza, with over 8 years and 3, 5-year options remaining. There is a 10% rent increase in each option period.

PROPERTY FACTS

Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
6,000 SF
Building Class
C
Year Built/Renovated
1928/2006
Price
$850,000
Price Per SF
$142
Cap Rate
7.23%
NOI
$61,490
Tenancy
Single
Building Height
2 Stories
Building FAR
1.75
Lot Size
0.08 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
G-1 BUS
Frontage
32 FT on S Washington Sq

PROPERTY TAXES

Parcel Number 01-01-16-328-161 Improvements Assessment $283,000
Land Assessment $16,700 Total Assessment $299,700

PROPERTY TAXES

Parcel Number
01-01-16-328-161
Land Assessment
$16,700
Improvements Assessment
$283,000
Total Assessment
$299,700
 

  • Listing ID: 33108834

  • Date on Market: 9/9/2024

  • Last Updated:

  • Address: 206 S Washington Sq, Lansing, MI 48933

More public record information on 206 S Washington Sq, Lansing, MI 48933

The Retail Property at 206 S Washington Sq, Lansing, MI 48933 is currently available for sale. Contact Mid-America Real Estate - Michigan, Inc. for more information.

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