920 N Fairview Ave 18,100 SF 100% Leased Office Building Lansing, MI 48912 £2,039,090 (£112.66/SF) 15.25% Net Initial Yield
EXECUTIVE SUMMARY
The subject property features 18,100 sf of recently renovated office leased to NeoPollard Interactive. The property is strategically positioned within immediate proximity to Highway 127, a major north/south thoroughfare in Michigan along with Grand River Ave, a major east/west thoroughfare in Michigan. The surrounding demographics are strong with more than 92,000 residents within a 3-mile radius of the property and approximately 2.8 miles to Michigan State University, the largest public university in the state with 52,000 students enrolled.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Office
Building Size
18,100 SF
Building Class
B
Year Built/Renovated
1966/2021
Price
£2,039,090
Price Per SF
£112.66
Net Initial Yield
15.25%
NOI
£310,961
Percent Leased
100%
Tenancy
Multiple
Number of Floors
2
Typical Floor Size
9,050 SF
Building FAR
0.55
Lot Size
0.75 AC
Zoning
O - Office
Parking
25 Spaces (1.38 Spaces per 1,000 SF Leased)
AMENITIES
- Bus Route
- Signage
1 of 1
Walk Score®
Very Walkable (71)
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | £799,693 | |
| Land Assessment | £59,583 | Total Assessment | £859,276 |
