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
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