248-394-0000
2222 E Michigan Ave, Lansing, MI for Sale
Apartments - FOR SALE
1/20
null | Request Cap Rate

2222 E Michigan Ave
Lansing, MI 48912


HIGHLIGHTS

  • 33 Apartment Units
  • 1 Retail Space
  • Additional 7,500 SF of Retail Space with approved plans for Additional 4 Apartment Units and 3 smaller Retail Spaces

OVERVIEW

Global Real Estate Advisors are pleased to present the exclusive offering of Provident Place in Lansing, MI. This four-story building was originally constructed in 2019. Provident Place consists of 33 apartments units featuring 3 studio units, 21 one-bedroom units and 9 two-bedroom units totaling 24,798 square feet. The property features tenant paid electricity, with the landlord paying for water & sewer. The current owner has implemented a utility reimbursement program for water which will allow a new owner to continue to increase revenue as the program is rolled out across all leases. The property also includes 1 leased retail unit at 1,970sf and an additional 7,500sf of space ready to be finished. While originally planned as a single, large retail space, the current owner has received approval to convert the space into 4 apartments and 3 smaller retail units. Provident Place is close to the Michigan State University Campus, the Michigan Capital building, plenty of restaurants, grocery stores, childcare and other businesses in Lansing. Visit our website at https://grea.com/properties/provident-place/ for more information including a full offering memorandum. This property is available individually or part of the Michigan Avenue Portfolio - Click to view more information on the portfolio opportunity - https://grea.com/properties/michigan-avenue-portfolio/

FOR SALE DETAILS

PRICE

Request Info for Price

# OF UNITS

33

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Provident Place

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

2020

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

Commercial

APN/PARCEL ID

01-01-14-304-391,01-01-14-304-401

ASK ABOUT THIS PROPERTY

248-394-0000

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

248-394-0000

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.