5805 West Saginaw Highway

Lansing, MI 48917

Listing ID: 215035

$2,041,000

For Sale

Property Type Retail : Food Service
Lot Size Acres 0.630
Building Sq Ft 2,400
Building Price per Sq Ft $850.42
Land Sq Ft 27,442
Land Price per Sq Ft $74.38

5805 West Saginaw Highway Lansing, MI 48917 - main image

5805 West Saginaw Highway Lansing, MI 48917 - alt image 2

5805 West Saginaw Highway Lansing, MI 48917 - alt image 3

5805 West Saginaw Highway Lansing, MI 48917 - alt image 4

Description

Mid-America Real Estate Corporation, in cooperation with Mid-America Real Estate-Michigan, Inc., is pleased to present Chipotle located at 5805 West Saginaw Highway in Lansing, Michigan. The site is located approximately 5 miles west of downtown Lansing, which is the state capitol of Michigan. The property is comprised of a newly constructed 2,400 SF retail building situated on a 0.63-acre parcel with a drive-thru. Chipotle is subject to a 10-year ground lease with a corporate guaranty and 10% increases every 5 years throughout the primary term and option periods. The site is an outlot positioned at a signalized hard corner directly across from the Lansing Mall. There are 111,075 residents within five miles of the site that have an average household income over $65,000. This asset’s location in a regional trade area at a signalized hard corner with excellent traffic exposure, combined with desirable tenancy and new construction, make it an excellent net lease investment opportunity.

Listing Demographics

All information based on the most recently available data (updated annually) and is provided in 1-mile, 3-mile, and 5-mile radii (radiuses) of the property location.

		1-Mile	3-Miles	5-Miles
Total Population		7,845	41,793	109,748
Population Median Age		42	41	38
Population by Age	0-9 Yrs	674 (8%)	4076 (9%)	13576 (12%)
	10-19 Yrs	783 (9%)	4358 (10%)	12448 (11%)
	20-29 Yrs	1499 (19%)	6722 (16%)	19140 (17%)
	30-39 Yrs	1007 (12%)	5841 (13%)	15226 (13%)
	40-49 Yrs	773 (9%)	4456 (10%)	12214 (11%)
	50-59 Yrs	974 (12%)	5688 (13%)	14158 (12%)
	60-69 Yrs	1061 (13%)	5489 (13%)	12613 (11%)
	70+ Yrs	1075 (13%)	5165 (12%)	10372 (9%)

Median HH Income		$54,208	$59,595	$49,532
Total Household Income	< 24K	562 (15%)	3441 (18%)	11099 (23%)
	25-49K	1174 (31%)	4393 (23%)	12319 (26%)
	50-74K	675 (18%)	3638 (19%)	8629 (18%)
	75-99K	487 (13%)	2918 (15%)	5978 (12%)
	100-199K	663 (17%)	3707 (19%)	7279 (15%)
	200K+	132 (3%)	565 (3%)	1113 (2%)

Highest Education Level	No Diploma	247	1545	6418
	Diploma or GED	1355	6945	18718
	Some College	1421	7698	19657
	Assoc. Degree	780	3536	7641
	Bachelors Degree	1204	6698	14279
	Higher Degree	702	3920	8010

Total Housing Units		4,046	19,891	51,559
--Owner-Occupied		1,612	11,278	26,459
--Renter-Occupied		2,081	7,383	19,959
Owner-Occupied Values	< 100K	178	2743	11335
	100-199K	931	5995	10498
	200-299K	385	1734	3254
	300-399K	75	540	858
	400-499K	11	125	229
	500K+	32	141	285

Total Working Age Population		6,793	35,217	88,491
In Work Force		4,377	22,972	58,294
Not In Work Force		2,416	12,245	30,197
Workforce Employed		4,186	21,592	54,014
Workforce Unemployed		191	1,380	4,263
Civlian Workforce		4,377	22,972	58,277
Military Workforce		0	0	17

Total Households		3,693	18,661	46,418
Family Households		1,939	10,400	25,038
Non-Family Households		1,754	8,261	21,380
Married Couple		1,381	7,524	16,467
Other Family		557	2,876	8,571
Married w/Child		416	2,468	5,854
Single Male w/Child		108	357	1,013
Single Female w/Child		216	1,087	3,762

Population Change Last Two Decades - Plus Projection

	2000	%	2010	%	2020	%	2030
Michigan	9,938,444	-1	9,883,640	+1	10,023,423	+4	10,424,510
Clinton County	64,753	+16	75,382	+6	80,045	+8	86,258
Eaton County	103,655	+4	107,759	+2	109,760	+4	114,184
Ingham County	279,320	+1	280,895	+5	296,059	+9	322,507

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While we strive to provide the most accurate information, all listing information, and demographic data, is provided by third-parties. As such, MyEListing will not be responsible for the accuracy of the information. It is strongly recommended that you verify all information with the listing agent, and any relevant agencies, prior to making any decisions.