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106-120 W Allegan St
Lansing, MI 48933
Hollister Bldg · Office Property For Sale
Executive Summary
- Prime downtown location: The building is one block from the Capitol, in a busy shopping & government district—this boosts visibility, reduces tenant turnover risk from location issues
- Mixed-use flexibility: Offers both retail and office, allowing for diversified tenant base. Can adapt uses depending on demand
- Growing downtown residential base: Increased residential development nearby increases daytime and evening foot traffic, supporting demand for retail and services
- +/- 92,000 Square-Foot Building with historic charm | Excellent Value-Add Opportunity
- Strong rental rates for downtown: $20/SF for well located, visible space is attractive in the local marketplace, especially given recent stabilization and modest rental growth in the retail sector
- Mixed-use flexibility: Offers both retail and office, allowing for diversified tenant base. Can adapt uses depending on demand
- Growing downtown residential base: Increased residential development nearby increases daytime and evening foot traffic, supporting demand for retail and services
- +/- 92,000 Square-Foot Building with historic charm | Excellent Value-Add Opportunity
- Strong rental rates for downtown: $20/SF for well located, visible space is attractive in the local marketplace, especially given recent stabilization and modest rental growth in the retail sector
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
92,790 SF
Building Class
B
Year Built/Renovated
1900/2007
Price
$8,978,600 CAD
Price Per SF
$96.76 CAD
Cap Rate
9.23%
NOI
$828,619 CAD
Percent Leased
85%
Tenancy
Multiple
Building Height
6 Stories
Typical Floor Size
15,465 SF
Slab To Slab
10’
Building FAR
1.01
Lot Size
2.11 AC
Opportunity Zone
Yes
Zoning
G-1, Bus. District - Commercial Zoned Property
Amenities
- Signage
Property Taxes
| Parcel Number | 01-01-16-325-031 | Improvements Assessment | $4,756,730 CAD |
| Land Assessment | $101,859 CAD | Total Assessment | $4,858,589 CAD |
Property Taxes
Parcel Number
01-01-16-325-031
Land Assessment
$101,859 CAD
Improvements Assessment
$4,756,730 CAD
Total Assessment
$4,858,589 CAD
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