REIT Sale | Former Advance Auto Parts | 23K VPD | Lansing

Highlights:

• 6,823 SF Value-Add Retail (Former Advance Auto Parts) on 1.3 Acre Parcel; 10 Minutes from Michigan State University
• Signalized Intersection with over 23K VPD Traffic Counts (±20,969 VPD on S MLK Jr Blvd & ±2,457 VPD on Mary Ave); 2 Miles from I-96
• Neighboring National Retailers: Kroger, Walgreens, Great Giant Supermarket, Charleys, Auto Zone, Biggby Coffee and more

Description:

RI Marketplace Online Auction June 9-11, 2025
Register to bid on Marketplace:
https://rimarketplace.com/auction/2480/t?utm_source=brevitas&utm_medium=listing&utm_campaign=external

Marcus & Millichap and RI Marketplace are pleased to present a vacant, free-standing retail building located at 4220 South Martin Luther King Jr. Boulevard in Lansing, Ingham County, Michigan (the “Property”). Formerly occupied by Advance Auto Parts, the Property is being offered significantly below replacement cost, presenting an excellent opportunity for owner/users or investors to acquire a highly visible, strategically positioned asset at a compelling basis. FIRST BID MEETS RESERVE!

Built in 1999, the Property comprises a one-story, ±6,823-square-foot free-standing retail building situated on a ±1.3-acre parcel (±56,870 SF), with 35 surface parking spaces. The site features ±153 feet of frontage and two points of ingress/egress along South Martin Luther King Jr. Boulevard (M-99)—Lansing’s primary north-south commercial corridor, with ±20,969 vehicles per day (VPD) as well as ±2,457 VPD on Mary Ave. The Property includes a highly visible pylon sign and was previously leased to Advance Auto Parts on a triple-net (NNN) basis. It presents owner-users or investors with the ability to unlock significant value-add potential through lease-up at long-term market rates (CoStar estimated retail rents of $11-13/SF NNN). Zoned MX-C Mixed-Use Urban Corridor, the Property allows for flexible retail and commercial uses, appealing to a wide range of end-users.

Strategically located in Lansing, the capital of Michigan and county seat of Ingham County, the Property benefits from excellent accessibility and strong demand drivers. Martin Luther King Jr. Boulevard (M-99) connects downtown Lansing to surrounding neighborhoods and regional highways, including I-96 (±2 miles away), providing direct access to suburban communities and broader transportation networks. The immediate trade area includes national retailers such as Walgreens, AutoZone, McDonald’s, Burger King, Arby’s, Biggby Coffee, and Extra Space Storage, contributing to consistent consumer traffic. The Property is located just ±3 miles south of downtown Lansing and ±10 minutes from Michigan State University, one of the largest universities in the country. It is also near Sparrow Hospital, a leading healthcare provider in the region. These institutions support a large daytime population and act as core economic engines. Additional corporate demand drivers in the area include several General Motors facilities and industrial parks housing major employers such as Meijer, Ryder, and AirLift, which contribute to consistent employment and commercial activity. The surrounding trade area includes ±77,000 residents with an average household income (AHHI) of ±$67,000 within a 3-mile radius, and ±165,000 residents with an AHHI of ±$73,297 within a 5-mile radius, supporting long-term demand for retail, services, and redevelopment opportunities.

Jerry Helmer
c/o Fisher Auction Company Inc.
License: 6504064915