Federal Opportunity Zone Development Land Just North of I-96

Vacant Land for Sale
Catylist Listing ID: 29925310
Property Subtypes: Retail
Gross Land Area: 0.81 - 3.06 Acres
Sale Price: $1,100,000
Sale Terms: Cash to Seller, Other
Cap Rate: Undisclosed
Last Updated: 3/22/2019

Overview / Comments

This land sits at the corner of Pleasant Grove and S MLK Blvd at the first signalized corner North of the I-96 interchange. The location is ideal for both highway service, such as fast food as well as neighborhood service. With daily traffic counts on S MLK of 18,426 and 5,900 on Pleasant Grove, the property has great exposure and multiple ingress / egress points on two roads. Plus, the property is just seconds from I-96 with average daily traffic of 40,600.

This parcel is located in the Federal Opportunity Zone, qualifying investments here for tax benefits. Speak to your tax professional for advise pertaining to Federal Opportunity Zone investments.

These properties are available as separate parcels priced as:
Parcel A $250,000
Parcel B $500,000
Parcel C $350,000

Trades for other income producing commercial properties will be considered.

Populations is 120k +/- in the 5 miles surrounding the property.

Additional Details

Nearest MSA: Lansing-East Lansing
County: Ingham
Submarket Type: Redevelopment District
Taxing Authority: City of Lansing
Tax ID/APN: Multiple
Property Visibility: Excellent
Largest Nearby Street: S MLK (Logan)

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,919 64,726 153,916
Median Age: 30.82 36.33 34.48
Households: 3,471 26,930 62,572


Photograph of Listing Agent

Matthew Wisniewski, CCIM

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