Map of Property

The Penn Building

For Sale

1115 South Pennsylvania Avenue, Lansing, MI 48912

This Lansing property for sale is located at 1115 South Pennsylvania Avenue. The general use of The Penn Building is office and it incorporates 49,700 square feet of class B office space. The current listed sale price for The Penn Building is $1,600,000. The Penn Building is situated on a lot that is 1.81 acre in size.

Contacts

broker
Christopher T. Miller

Martin Commercial Properties

Property Details

  • Property Type Office
  • Property Size 49,700 SF
  • Lot Size 1.81 Acre
  • Cap Rate % 8.86
  • Additional Rent Contact for pricing
  • Building Class B
  • Year Built 1950
  • Date Updated Nov 18, 2024

Martin Commercial Properties is pleased to present for sale this multi-tenant mixed-use investment opportunity.

The property is located on South Pennsylvania Avenue, a prominent north-south thoroughfare, only 2 blocks from I-496.

The 49,700-SF building consists of 56% office space and 44% warehouse/distribution/showroom space. It contains tenant-specific office build-out, 3 docks, 2 ramps, 1 overhead door and 12' ceilings.

The property is conveniently located 2 blocks south of I-496 and only 1.4 miles from GM's Grand River Assembly Plant.

The Penn Building has a history of strong occupancy.

Long-term tenants include Munch's Supply, occupying over 17,000 SF for 20 years; and Ingham County's Willow Community Health, occupying over 10,000 SF for 10 years.

The property is 87.4% leased, creating a significant value-add opportunity for an investor. Call for comprehensive offering memorandum.

Want more info on this listing?

Reach out to the broker for more info on lease terms and amenities

Getting around

  • 54/100

    Walk Score ®

  • 38/100

    Transit Score ®

  • 65/100

    Bike Score ®

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Location

  • City Lansing, MI
  • Zip Code 48912
  • Market Detroit

Points of Interest

  • East Lansing

    2.08 miles

  • ChargePoint

    0.13 miles

  • BP

    0.22 miles

  • Admiral

    0.46 miles

  • Marathon

    0.55 miles

  • Mobil

    0.55 miles

  • JuiceBox

    0.79 miles

  • Greenlots

    0.82 miles

  • Sunoco

    0.91 miles

  • Clipper Creek

    1.00 miles

  • Speedway

    1.09 miles

  • Lot B

    0.77 miles

  • Lot A

    0.85 miles

  • South Grand Ramp

    1.01 miles

  • South Capitol Ramp

    1.08 miles

  • Lot 8

    1.14 miles

  • Townsend Ramp

    1.16 miles

  • North Grand Ramp

    1.18 miles

  • Elliott-Larsen Lot

    1.30 miles

  • Roosevelt Parking Ramp

    1.33 miles

  • North Capitol Ramp

    1.33 miles

  • Courtyard Lansing Downtown

    0.86 miles

  • DoubleTree

    1.12 miles

  • Cozy Koi Bed and Breakfast

    1.65 miles

  • AC Hotel Lansing University Area

    1.77 miles

  • SpringHill Suites East Lansing University Area

    1.96 miles

  • Quality Inn University

    2.07 miles

  • Candlewood Suites East Lansing

    2.17 miles

  • Kellogg Hotel and Conference Center

    2.32 miles

  • Graduate by Hilton East Lansing

    2.81 miles

  • Red Roof Inn

    2.90 miles

  • REO Town Marketplace

    0.77 miles

  • Capital City Market

    0.88 miles

  • Don Pancho Market

    1.03 miles

  • Better Health Store

    1.74 miles

  • Westlund's Apple Market

    1.79 miles

  • Old Town General Store

    1.84 miles

  • Iwacu International Supermarket

    1.88 miles

  • Kroger

    1.89 miles

  • TJ Maxx

    1.99 miles

  • Swagath Indian Groceries

    1.99 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

Contact Listing Broker
broker
Christopher T. Miller

Martin Commercial Properties