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Multi-Tenant Office | Investor or Owner/User 822 Centennial Way 19,954 SF 49% Leased Office Building Online Auction Sale Lansing, MI 48917
Matterport 3D Tour
INVESTMENT HIGHLIGHTS
- Cash-flowing professional office with vacant first floor, allowing immediate occupancy or a new leasing strategy by the new owner.
- Situated on a beautifully landscaped 3.12-acre lot, with suites overlooking scenic wooded views through large windows.
- Minutes from the Saginaw retail corridor, home to the Lansing Mall and a large concentration of household-name shopping and dining options.
- 49% occupied by a performing tenant mix, including Yeo & Yeo, Rosati, Schultz, Joppich & Amtstbuechler, and Edward Jones.
- Excellent connectivity, just a half-mile from Interstate 496 and a short drive from the State Capitol and Downtown Lansing.
EXECUTIVE SUMMARY
Capitol Commerce Center, at 822 Centennial Way, offers a premier investment opportunity with untapped growth potential at the heart of Lansing, Michigan. This 19,954-square-foot professional office is delivered ±49% occupied by a performing tenant mix, including notable businesses such as Yeo & Yeo, Rosati, Schultz, Joppich & Amtstbuechler, and Edward Jones. With a full vacant lower level, this is a phenomenal opportunity for growing businesses to secure 9,229 square feet of turnkey space for operations, while offsetting costs with stable existing rental income.
Built in 1998, Capitol Commerce Center has been expertly maintained and is defined by its large atrium, open lobby, and attractive brick façade. The property sits on a beautifully landscaped 3.12-acre lot, with suites overlooking picturesque wooded views through large windows that also brighten the interiors with rich natural lighting. The expansive lot also provides abundant on-site parking for employees and visitors, with 100+ surface stalls.
Offering excellent connectivity to the greater region, the property is strategically placed just a half-mile from Interstate 496, with convenient connections to Interstate 96/69. This well-appointed location allows travel to the State Capitol as well as Downtown Lansing in 5.4 miles. Additionally, the Saginaw retail corridor is reachable in just a short drive, offering a vibrant trade area that is home to the Lansing Mall, as well as numerous national retail brands such as Walmart Supercenter, Target, Kohl’s, CVS, Chick-fil-A, Applebee’s, LongHorn Steakhouse, Carrabba’s Italian Grill, and much more.
Capitol Commerce Center also offers strong potential for value-add investors, thanks to strong fundamentals in the local office submarket. Currently, Central Lansing provides limited vacancies of just 6.6%, driving rent growth of 1.8% over the past 12 months. Once stabilized, a new owner will be able to easily offload the property to capture an elevated market value thanks to the area’s strong liquidity, with 28 sales and over $23.9 million in sales volumes in the submarket during the past year.
Combining a stable tenant mix, well-maintained office facilities, and an easily reachable location near essential amenities, Capitol Commerce Center presents the perfect choice for businesses and investors seeking accessibility and a professional environment.
Property tours are by appointment only. Please contact the listing broker to schedule.
Built in 1998, Capitol Commerce Center has been expertly maintained and is defined by its large atrium, open lobby, and attractive brick façade. The property sits on a beautifully landscaped 3.12-acre lot, with suites overlooking picturesque wooded views through large windows that also brighten the interiors with rich natural lighting. The expansive lot also provides abundant on-site parking for employees and visitors, with 100+ surface stalls.
Offering excellent connectivity to the greater region, the property is strategically placed just a half-mile from Interstate 496, with convenient connections to Interstate 96/69. This well-appointed location allows travel to the State Capitol as well as Downtown Lansing in 5.4 miles. Additionally, the Saginaw retail corridor is reachable in just a short drive, offering a vibrant trade area that is home to the Lansing Mall, as well as numerous national retail brands such as Walmart Supercenter, Target, Kohl’s, CVS, Chick-fil-A, Applebee’s, LongHorn Steakhouse, Carrabba’s Italian Grill, and much more.
Capitol Commerce Center also offers strong potential for value-add investors, thanks to strong fundamentals in the local office submarket. Currently, Central Lansing provides limited vacancies of just 6.6%, driving rent growth of 1.8% over the past 12 months. Once stabilized, a new owner will be able to easily offload the property to capture an elevated market value thanks to the area’s strong liquidity, with 28 sales and over $23.9 million in sales volumes in the submarket during the past year.
Combining a stable tenant mix, well-maintained office facilities, and an easily reachable location near essential amenities, Capitol Commerce Center presents the perfect choice for businesses and investors seeking accessibility and a professional environment.
Property tours are by appointment only. Please contact the listing broker to schedule.
MATTERPORT 3D TOUR
Capitol Commerce Center Matterport Tour
DATA ROOM Click Here to Access
- Operating and Financials
- Purchase Agreement
- Third Party Reports
- Title and Insurance
MARKET ANALYTICS Click Here to Access
PROPERTY FACTS
Sale Type
Investment
Sale Condition
Auction Sale
Type of Ownership
Fee Simple
Property Type
Office
Building Size
19,954 SF
Building Class
B
Year Built
1998
Percent Leased
49%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
9,977 SF
Building FAR
0.15
Lot Size
3.12 AC
Parcel Number
040-043-700-120-00
Zoning
commercial - Commercial
Parking
100 Spaces (5.01 Spaces per 1,000 SF Leased)
AMENITIES
- Atrium
- Signage
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DEMOGRAPHICS
Demographics
1 Mile
3 Mile
5 Mile
2024 Population
4,301
36,686
98,952
2020 Population
4,365
37,350
98,683
2029 Population
4,285
36,510
98,760
2024-2029 Projected Population Growth
-0.4%
-0.5%
-0.2%
Daytime Employees
10,613
31,757
98,239
Total Businesses
374
2,016
5,389
Average Household Income
$95,395
$84,857
$74,400
Median Household Income
$72,795
$65,272
$57,582
Total Consumer Spending
$60.3M
$467.4M
$1.1B
Median Age
48.4
41.9
38.8
2024 Households
2,004
16,639
43,243
Percent College Degree or Above
25%
23%
20%
Average Home Value
$211,389
$224,874
$183,354
$ values in USD
SALE ADVISORS
SALE ADVISORS
Thomas Jamieson, Senior Associate/Office Advisor
As senior associate and office advisor, Thomas Jamieson specializes in office space leasing and sales, site selection, consulting, and landlord and tenant representation services. In addition, as the team leader, Tom provides leadership and oversight of the office team coordinating goals and objectives, as well as pursuits for the team to ensure a successful plan is achieved. Tom came to Martin Commercial Properties in 2006 following a successful sales and management career with Alltel Communications. Tom’s embodiment of the company's commitment to put the client’s needs first has enabled him to grow in his profession quickly and earned him the role of office team leader.
Eric Rosekrans, Senior Vice President/Office Advisor
As a 39-year veteran with Martin Commercial Properties, Eric Rosekrans has established himself as the leading office property specialist and commercial real estate advisor in Mid-Michigan, and has consistently been recognized as a top producer with a portfolio of office property in excess of 9 MSF.
Throughout his tenure, Eric has cultivated long standing company relationships with most major office users in the Greater Lansing Area, including such entities as Jackson National Life Insurance Company, Auto-Owners Insurance Company, and several major law firms, associations and lobbying groups.
As his role has expanded in scope to include corporate and institutional work for his clients, Eric has functioned as the single-point-of-contact to coordinate multi-million dollar transactions in office markets throughout the country.
Throughout his tenure, Eric has cultivated long standing company relationships with most major office users in the Greater Lansing Area, including such entities as Jackson National Life Insurance Company, Auto-Owners Insurance Company, and several major law firms, associations and lobbying groups.
As his role has expanded in scope to include corporate and institutional work for his clients, Eric has functioned as the single-point-of-contact to coordinate multi-million dollar transactions in office markets throughout the country.
ABOUT THE AUCTION TECHNOLOGY
Auctions by Ten-X are the #1 transaction technology powering commercial real estate transactions online. With over $34B in total transactions, these auctions use best-in-class technology and real-time asset intelligence to put listings in the best position to find the perfect buyer. The expedited auction timeline, comprehensive due diligence, and buyer qualification make transactions twice as fast and twice as certain for brokers, owners, and investors.
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AUCTION CONTACT
Taylor Cunningham
Contact
Auctioneer License:
Ten-X, LLC Arlene Richardson RE Brkr 6505431586
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MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
3% Transaction Fee
Based on Winning Bid Amount
Minimum Transaction Fee
$20,000 USD
Maximum Transaction Fee
$300,000 USD
Example Calculation
Winning Bid Amount
$5,000,000 USD
Transaction Fee
$150,000 USD (3%)
Total Purchase Price
$5,150,000 USD
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Multi-Tenant Office | Investor or Owner/User | 822 Centennial Way
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