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5118 S Martin Luther King Jr Blvd 10,880 SF Retail Building Lansing, MI 48911 $1,189,039 CAD ($109.29 CAD/SF)
Investment Highlights
- Freestanding 10,880 SF former CVS on 1.35 acres with strong frontage, visibility, and two points of access.
- Flexible MX-C zoning with strong trade area demographics, including approximately 151,987 people and 64,394 households within 5 miles.
- Established Lansing retail corridor surrounded by national retailers, restaurants, services, and dense residential neighborhoods.
Executive Summary
Property Highlights
Freestanding former CVS building located at 5118 S. Martin Luther King Jr. Boulevard in Lansing, just south of the Michigan State Capitol.
10,880 SF building on 1.35 acres, offering a rare opportunity for a full-building user, medical operator, discount retailer, specialty grocer, service provider, or redevelopment concept.
Excellent frontage and visibility along S. Martin Luther King Jr. Boulevard with two points of access, making the site easy to identify and convenient for customers.
Located in an established Lansing retail corridor surrounded by national and local retailers, restaurants, service businesses, and dense residential neighborhoods.
MX-C Mixed-Use Urban Corridor zoning provides flexibility for a wide range of commercial and mixed-use concepts.
Strong nearby consumer base with approximately 151,987 people and 64,394 households within a 5-mile radius.
Significant daytime population with approximately 86,495 employees and 5,460 businesses within 5 miles.
Existing pharmacy box layout provides a highly adaptable floor plan with open retail area, back-of-house space, parking, loading/service access, and strong building identity.
The site offers a strong combination of size, access, visibility, parking, and corridor location, making it well-positioned for a variety of users looking to serve Lansing’s south side and central city trade area.
Freestanding former CVS building located at 5118 S. Martin Luther King Jr. Boulevard in Lansing, just south of the Michigan State Capitol.
10,880 SF building on 1.35 acres, offering a rare opportunity for a full-building user, medical operator, discount retailer, specialty grocer, service provider, or redevelopment concept.
Excellent frontage and visibility along S. Martin Luther King Jr. Boulevard with two points of access, making the site easy to identify and convenient for customers.
Located in an established Lansing retail corridor surrounded by national and local retailers, restaurants, service businesses, and dense residential neighborhoods.
MX-C Mixed-Use Urban Corridor zoning provides flexibility for a wide range of commercial and mixed-use concepts.
Strong nearby consumer base with approximately 151,987 people and 64,394 households within a 5-mile radius.
Significant daytime population with approximately 86,495 employees and 5,460 businesses within 5 miles.
Existing pharmacy box layout provides a highly adaptable floor plan with open retail area, back-of-house space, parking, loading/service access, and strong building identity.
The site offers a strong combination of size, access, visibility, parking, and corridor location, making it well-positioned for a variety of users looking to serve Lansing’s south side and central city trade area.
Property Facts
Sale Type
Owner User
Property Type
Retail
Property Subtype
Drug Store
Building Size
10,880 SF
Building Class
C
Year Built
2001
Price
$1,189,039 CAD
Price Per SF
$109.29 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.19
Lot Size
1.35 AC
Opportunity Zone
Yes
Zoning
MX-C - Mixed-Use Urban Corridor
Parking
68 Spaces (6.25 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Pylon Sign
- Signage
- Drive Thru
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 01-05-05-202-153 | Improvements Assessment | $755,530 CAD |
| Land Assessment | $141,566 CAD | Total Assessment | $897,095 CAD |
Property Taxes
Parcel Number
01-05-05-202-153
Land Assessment
$141,566 CAD
Improvements Assessment
$755,530 CAD
Total Assessment
$897,095 CAD
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5118 S Martin Luther King Jr Blvd
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