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115-119 E Grand River Ave 25,659 SF 100% Leased Retail Building East Lansing, MI 48823 $10,312,200 CAD ($401.89 CAD/SF) 7.47% Cap Rate
Investment Highlights
- Existing commercial kitchen infrastructure, including vent hood and walk-in cooler, reduces startup costs.
- Prime location in Downtown East Lansing directly across from Michigan State University’s main campus.
- Surrounded by national brands, dining, and service retailers fostering strong synergy and year-round traffic.
Executive Summary
Generational opportunity to acquire this fully leased mixed use property. Three retail spaces currently 100% leased to Rally House and Chandler Crossing. Additional income derived from two student apartments, totaling 9 beds, which have not experienced a day of vacancy since they were built new in 2012, and fully leased through the 2026-2027 academic year.
The property delivers exceptional frontage along a heavily traveled Grand River Avenue, a commercial artery serving both the MSU student body (50,000 plus) and a growing local population. Also direct access to the pedestrian path and city parking deck adjacent to the north.
Its B-3 zoning supports a versatile mix of commercial uses, making the site ideal for retailers, restaurants, or experiential concepts seeking to leverage substantial pedestrian traffic.
Multi story redevelopment a potential for future improvement.
The property delivers exceptional frontage along a heavily traveled Grand River Avenue, a commercial artery serving both the MSU student body (50,000 plus) and a growing local population. Also direct access to the pedestrian path and city parking deck adjacent to the north.
Its B-3 zoning supports a versatile mix of commercial uses, making the site ideal for retailers, restaurants, or experiential concepts seeking to leverage substantial pedestrian traffic.
Multi story redevelopment a potential for future improvement.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
25,659 SF
Building Class
B
Year Built
1927
Price
$10,312,200 CAD
Price Per SF
$401.89 CAD
Cap Rate
7.47%
NOI
$770,321 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
1.59
Lot Size
0.37 AC
Zoning
B3 - Zoning will allow for a variety of CBD uses including Retail, Office and institutional and service, perhaps up to 10 story high rise re development.
Frontage
Amenities
- Bus Line
- Air Conditioning
Space Availability
- Space
- Size
- Space Use
- Position
- Available
| Space | Size | Space Use | Position | Available |
| 1st Floor | 2,000 SF | Office/Retail | - | 30 Days |
1st Floor
| Size |
| 2,000 SF |
| Space Use |
| Office/Retail |
| Position |
| - |
| Available |
| 30 Days |
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Videos
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Photos
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Map
1st Floor
| Size | 2,000 SF |
| Space Use | Office/Retail |
| Position | - |
| Available | 30 Days |
Moderately walkable
70/100
Exceptionally drivable
90/100
Good public transit
70/100
Very bikeable
80/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 20-02-18-163-002 | Improvements Assessment | $877,539 CAD |
| Land Assessment | $712,691 CAD | Total Assessment | $1,590,230 CAD |
Property Taxes
Parcel Number
20-02-18-163-002
Land Assessment
$712,691 CAD
Improvements Assessment
$877,539 CAD
Total Assessment
$1,590,230 CAD
1 of 16
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
Presented by
Gordon Realty
115-119 E Grand River Ave
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