Property Listing No Longer Available for Sale

1001 & 914 Terminal Road

Lansing, MI

Office for Sale - $3,750,000 - 40,654 Sq. Ft. on 49299.44 acres


Property Info

CIMLS#613204
Location
  1001 & 914 Terminal Road
  Lansing MI 48906
UpdatedSeptember 20th, 2013
TypeOffice
Price$3,750,000
Building40,654 Sq. Ft.
Land49299.44 acres

Property Description

Sperry Van Ness/Stewart Commercial Group LLC is proud to offer two government leased properties For sale to qualified investors. Properties are leased by the State of Michigan, Department of Community Health and through 2016 with (2) five year renewal options options. Newly renovated buildings with significant owner and tenant investments in office finishes, mechanicals, and back-up generators.

Location Description:

The subject properties are located in the City of Lansing which is the Capital for the State of Michigan. The properties are located within one mile of the Lansing Capital Airport and 1/2 mile North of the Grand River Ave & MLK intersection. Close proximity to the newly constructed State of Michigan Military Affairs Headquarters and Bioport/Emergent Solutions new $78 Million headquarters.

Highlights:

>> 100% Occupied by State of Michigan

>> Significant building investments benefiting the State

>> Long history of occupancy

>> Minutes for Lansing Capital Airport

>> 9% Cap Rate

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Financials

Sales Info:

>> Cap rate: 8.98%

>> NOI: $336864