Marcus & Millichap Brokers Sell Lansing, Mich Retail Property For $6.2M
6421 West Saginaw Highway
$6,200,000
$425/SF
Building Size
14,559 SF
Asset Type
Retail
Closing
Nov 8, 2021
About this deal
AI
The retail property located at 6421 W. Saginaw Highway in Lansing, Michigan has been sold for a total of $6,200,000. The property spans a total of 14,559 square feet, resulting in a price per square foot of $426. This transaction took place on 11/08/2021 and involved multiple brokers from Marcus & Millichap, namely James Ziegler, Keith Zelenika, and Mitchell Kiven.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $6,200,000
- Address: 6421 W. Saginaw Highway, Lansing, MI
- Market: Lansing, Michigan
- Square Footage: 14,559
- Price per Square Foot: $426
James Ziegler, Keith Zelenika, and Mitchell Kiven from Marcus & Millichap were the brokers involved in this deal. Their expertise and representation played a crucial role in facilitating the transaction of this retail property in Lansing, Michigan.
Players
Lansing Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.56%
Cash-on-Cash
-0.73%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93