328 Lansing St
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328 Lansing St
4,252 SF Retail Building Charlotte, MI 48813 £1,486,655 (£350/SF) 6.67% Net Initial Yield
Investment Highlights
- Jimmy Johns & Domino's- Large Regional Franchisees.
- Major Remodel of Former Bank in 2022, Includes Drive Thru for Jimmy Johns.
- All Brick Construction & Shingled Roof - Low Maintenance.
Executive Summary
Marcus & Millichap is pleased to present a three-tenant retail center located at 328 Lansing Rd., Charlotte, MI. This 100 percent occupied property provides stable income from multi-unit franchise tenants – Jimmy Johns, T-Mobile and Domino’s, all on triple net leases.
Built in 2003, the former 4,263-square foot bank underwent a complete renovation in 2022-23 and is located on the major commercial artery of Lansing Avenue near the I-69 interchange. Major retailers in the vicinity include Ace Hardware, Goodwill and Family Dollar. Walmart and Meijer are both 1.5 miles from the property.
Charlotte, the County Seat of Eaton, has over 16,000 people in a five-mile radius with an average household income of $83,500. Spartan Motors Chassis is the largest employer with over 1,400 skilled workers supporting Lansing’s nearby auto manufacturing plants.
Built in 2003, the former 4,263-square foot bank underwent a complete renovation in 2022-23 and is located on the major commercial artery of Lansing Avenue near the I-69 interchange. Major retailers in the vicinity include Ace Hardware, Goodwill and Family Dollar. Walmart and Meijer are both 1.5 miles from the property.
Charlotte, the County Seat of Eaton, has over 16,000 people in a five-mile radius with an average household income of $83,500. Spartan Motors Chassis is the largest employer with over 1,400 skilled workers supporting Lansing’s nearby auto manufacturing plants.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
4,252 SF
Building Class
C
Year Built/Renovated
2003/2023
Price
£1,486,655
Price Per SF
£350
Net Initial Yield
6.67%
NOI
£99,176
Tenancy
Single
Number of Floors
1
Building FAR
0.08
Lot Size
1.27 AC
Opportunity Zone
Yes
Zoning
B-3 - General Business District
Parking
38 Spaces (8.94 Spaces per 1,000 SF Leased)
Frontage
260 ft on Lansing St
Amenities
- Pylon Sign
- Drive Thru
- Energy Star Labelled
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 200-007-400-250-02 | Improvements Assessment | £0 |
| Land Assessment | £0 | Total Assessment | £286,455 |
PROPERTY TAXES
Parcel Number
200-007-400-250-02
Land Assessment
£0
Improvements Assessment
£0
Total Assessment
£286,455
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328 Lansing St
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