418 Baker StLansing, MI 48910

This mixed-use building at 418 Baker St, Lansing, MI 48910, presents a compelling investment opportunity. The 3,623 square foot property, built in 1911 and renovated in 1964, sits on a 0.18-acre lot (APN: 01-01-21-429-051) and boasts a desirable corner location at the intersection of Cedar and Baker Streets, ensuring high visibility. The building features a two-story design, encompassing two spacious apartment units, each with a private balcony, and two versatile ground-floor commercial spaces suitable for retail or office use. A rare amenity in this area, the property includes a private parking lot. The building is currently zoned F Comm and has a rental certificate from the City of Lansing, valid until February 2025. The asking price is $150,000 ($41.40/sq ft), with a projected NOI of $19,000 and a pro-forma cap rate of 12.67%. The anticipated occupancy date is August 20, 2024. Its proximity to REO Town and the BWL Co-Generation Plant, along with its short distance to downtown Lansing, makes this property highly attractive. This is an exceptional opportunity for investors seeking multiple income streams or businesses desiring a high-traffic location in a vibrant community.