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East Lansing, MI Medical Office 1350 E Lake Lansing Rd 8,109 SF 100% Leased Office Building East Lansing, MI 48823 $1,749,445 CAD ($215.74 CAD/SF) 8.25% Cap Rate
Investment Highlights
- 100% Income producing, Steller ROI
- COVID-19 and Recession Proof tenants
- Great Income 5-mile radius +$67K
- Long term tenants , No Vacancies
- Strong Population 3-mile radius +84K
- New Roof (2020) - 15 year warranty & New Parking Lot (2020)
Executive Summary
Triple Net Investment Group is proud to present 1350 East Lake Lansing Road| East Lansing, Michigan (1.32 AC ). Investment Parcel is 8,791 SF building built in 1980, Roof was recently replaced (2020) with a 15 year warranty, parking lot was also replaced (2020). Property is 100% leased with no vacancy issues, its generating Strong Income with recession proof tenants. Tenants are long term and have exercised previous options in the past. Leases have built in rental increases to hedge against inflation and each tenant is metered separately for Utilities. Additional Development Parcel available for sale and has the right to develop - 6,600 SF office building for future income possibilities. Location is in close proximity to Carriage Hills Shopping Center, Michigan State University, I-69 and I-127.
Property Facts
Sale Type
Investment NNN
Property Type
Office
Property Subtype
Building Size
8,109 SF
Building Class
B
Year Built
1980
Price
$1,749,445 CAD
Price Per SF
$215.74 CAD
Cap Rate
8.25%
NOI
$144,329 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
8,109 SF
Building FAR
0.12
Lot Size
1.60 AC
Zoning
B 1 Office - Allows for professional and general office use. Salons and spas also permitted use.
Parking
56 Spaces (6.91 Spaces per 1,000 SF Leased)
Amenities
- 24 Hour Access
- Property Manager on Site
- Signage
- Kitchen
- Fully Carpeted
- Monument Signage
- Air Conditioning
Fairly walkable
40/100
Moderately drivable
70/100
Limited public transit
30/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 20-02-07-214-032 | Improvements Assessment | $116,036 CAD |
| Land Assessment | $375,466 CAD | Total Assessment | $491,502 CAD |
Property Taxes
Parcel Number
20-02-07-214-032
Land Assessment
$375,466 CAD
Improvements Assessment
$116,036 CAD
Total Assessment
$491,502 CAD
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East Lansing, MI Medical Office | 1350 E Lake Lansing Rd
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