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206 S Washington Sq
Lansing, MI 48933

Cottage Inn & Residential Mixed Use Building · Retail Property For Sale

Retail Space Michigan Lansing 206 S Washington Sq, Lansing, MI 48933

Investment Highlights

  • 2nd floor is 3 loft apartments comprised of (1) 2bd/1ba and (2) 1bd/1ba units.
  • 2,071 vehicles per day on S Washington Square.
  • Less than 500’ from the Michigan State Capital building.
  • Daytime population is over 125,000 within 3-miles.
  • 12,122 people within a 1-mile radius.
  • Highest volume corporate operated location.

Executive Summary

Mixed-use building in downtown Lansing. Ground floor leased to Cottage Inn Pizza, with over 8 years and 3, 5-year options remaining. There is a 10% rent increase in each option period.

PROPERTY FACTS

Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
6,000 SF
Building Class
C
Year Built/Renovated
1928/2006
Price
$1,218,959 CAD
Price Per SF
$203 CAD
Cap Rate
7.23%
NOI
$88,181 CAD
Tenancy
Single
Building Height
2 Stories
Building FAR
1.75
Lot Size
0.08 AC
Opportunity Zone
Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning
G-1 BUS
Frontage
32 ft on S Washington Sq

PROPERTY TAXES

Parcel Number 01-01-16-328-161 Improvements Assessment $405,842 CAD
Land Assessment $23,949 CAD Total Assessment $429,791 CAD

PROPERTY TAXES

Parcel Number
01-01-16-328-161
Land Assessment
$23,949 CAD
Improvements Assessment
$405,842 CAD
Total Assessment
$429,791 CAD
 

  • Listing ID: 33108834

  • Date on Market: 2024-09-09

  • Last Updated:

  • Address: 206 S Washington Sq, Lansing, MI 48933

The Retail Property at 206 S Washington Sq, Lansing, MI 48933 is currently available for sale. Contact Mid-America Real Estate - Michigan, Inc. for more information.

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