North Lansing Grocery Store - Business and Real Estate

Retail-Commercial for Sale
Sale Pending/Contingent
Also listed as Business Opportunity
Catylist Listing ID: 30048742
Property Subtypes: Convenience Store, Free-Standing Building, Retail-Pad
Status: Pending/Contingent
Building Size (RSF): 11,235 SF
Gross Land Area: 1.03 Acres
Sale Price: $1,100,000
Unit Price: $97.91 PSF
Property Use Type: Vacant/Owner-User, Business
Building Name: Gormans Market
Usable Size (USF): 11,235 SF
Sale Terms: Cash to Seller, Owner Financing
Cap Rate: Undisclosed
Last Updated: 4/20/2018

Overview / Comments

A Lansing grocery and meat market legend, this store has been in the family since the 1950’s and was grown from a small corner store to its current footprint at more than 11,200 Sq Ft, built in 1990

The store features one of the area finest meat counters, liquor, beer and wine and a full grocery selection.

The location is within in walking distance of the are neighborhoods and has a distinct advantage in that the barrier to entry for a large format grocer is high with little room to build and no distinct commercial development to anchor such a development. This leaves the store as the primary grocery store for this large residential population.

The store is currently undergoing updates on lighting and cooling systems to reduce its utility consumption, which will be a great benefit to the new owners.

Sales at the location have been solid and consistent and will provide new ownership a solid base to build upon.

Sale price includes all trade fixtures, improvements, real estate, good will, name and licenses. Plus inventory at cost on day of sale.

Additional Details

Nearest MSA: Lansing-East Lansing
County: Ingham
Taxing Authority: City of Lansing - Ingham County
Tax ID/APN: 33-01-01-05-401-132
Retail Clientele: General, Family
Property Visibility: Excellent
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 11,235 SF
Property Condition: Excellent
Year Built: 1990
Roof Type: Flat
Construction/Siding: Block
Parking Type: Surface

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 7,045 70,127 167,637
Median Age: 33.19 34.89 34.11
Households: 2,812 29,914 68,224


Photograph of Listing Agent

Matthew Wisniewski, CCIM

© Copyright Catylist. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither Commercial Property Information Exchange (CPIX) nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.