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Sandborn Real Estate
Nick Sandborn | Broker/Owner
100 Kent Street
Portland, MI 48875

Office: (517) 647-4113
Nick: (517) 420-8352
Amanda: (517) 290-3428
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Listing 12 out of 123
$599,900 For Sale

406 S Washington Square
Lansing, MI 48933

11 units |

lot: 7057 sq ft lot
Commercial: Income - MLS# 238243
Property Photo
1/5

Description

Retail and Lofts-11,000 sf Building For Sale in the Heart of Downtown Lansing. This mixed-use building is currently generating approximately $88,200 in annual gross income. There are three retail shops consisting of a cigar shop, barber shop and LGBT Outreach Center. There are also four apartments being managed by MTH. Proforma NOI is estimated to be $60,719. The building has been very well maintained. Excellent location within walking distance to everything in Downtown Lansing.

Features

  • Property Type: Commercial
  • Sub Type: Income
  • Listing Status: Active
  • County/Area: Ingham County
  • Zip Code: 48933
  • Year Built: 1910
  • School District: Lansing
  • Style: Two Story
  • Stories: 2
  • Units: 11 units
  • Basement: Partial
  • Lot Size: 7057 sq ft lot
  • Zoning: Commercial
  • Building 1 Description: RETAIL/LOFTS
  • Ceiling Height: 10 FT
  • Directions: Located in the heart of Downtown Lansing near the SE Corner of East Kalamazoo and South Washington Square.
  • Driveway: No Driveway
  • Exterior: Brick
  • Foundation Size: 11000.00
  • Heating: Forced Air - Gas
  • Income & Expenses: Annual Income: 88200.00
  • Income & Expenses: Insurance: 2000.00
  • Income & Expenses: Janitorial: 400.00
  • Income & Expenses: Management: 4410.00
  • Income & Expenses: Net Operating Income: 60719.00
  • Income & Expenses: Projected: Yes
  • Income & Expenses: Repair Maintenance: 3000.00
  • Income & Expenses: Tax Expense: 17271.00
  • Income & Expenses: Total Expense: 27481.00
  • Income & Expenses: Total Other Expense: 400.00
  • Land & Acreage: Up to 1/4 Acre
  • Lot Dimensions: 66X100
  • Misc Business Info: Construction Type: BLOCK AND EIFS
  • Misc Business Info: Parking Surface: BLACKTOP
  • Misc Business Info: Roof Type: FLAT
  • Roof: Flat
  • Sewer: Public Sewer
  • SqFt - Above Appx: 11000.00
  • Water: Public
  • Water Heater: Gas Natural
Courtesy of Berkshire Hathaway Homeservices Tomie Raines, Shelby And Kelly Miller



Sandborn Real Estate | 517-647-4113 | Email Us
100 Kent St - Portland, MI 48875
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