LANSING — The area has a number of commercial properties for sale, some that seem to have been on the market for long periods without a buyer — despite seemingly having a lot to offer prospective buyers or tenants.
Real estate brokers say there are many reasons a piece of property can sit on the market, even if it makes those who own the property and passersby wonder what’s taking so long.
In 2019, when the Centennial Group put a 70-year-old former bus station on South Washington Avenue, its headquarters for nearly two decades, up for sale, company CEO Salvatore Durso thought a buyer would come along quickly, but that hasn’t been the case.
The insurance company, which moved to a building down the street, invested about $1.2 million in renovating the property at 511 S. Washington Ave., which had become an eyesore by the late 1990s, with broken windows and people with nowhere else to go frequently staying the night inside.
“It was a classic urban blight when we bought it,” Durso said.
Centennial Group brought the building back to life, restoring the original terrazzo tile floors and enclosing a portion of the structure where buses would park to pick up riders.
“We felt pretty strongly that we would be able to sell the property even though we weren’t using all of it,” Durso said.
Then the COVID-19 pandemic hit, changing the landscape in downtown Lansing. Downtown companies sent their workers home to work remotely. Today, filling vacant office space is still a struggle, and Centennial Group’s former home is still for sale.
It’s one of several large, visible commercial properties in the Lansing area that have been for sale for more than a year. Here’s a closer look at five of them and how real estate brokers see them being returned to use.
511 S. Washington Ave., Lansing
Centennial Group’s 10,665-square-foot, two-story building on South Washington Avenue has been on the market for four years. It has high ceilings, a front reception and lobby area, conference and training rooms, lots of open space and more than 30 parking spaces on the property, the property’s broker said.
There are pieces of history in the building’s basement, too, including signage and seating from when it was a bus station.
The property, priced at just over $1.19 million, has character, said Woodworth Commerical’s Todd Kosta, who represents the listing.
“You would never see these floors or this beautiful staircase today,” he said recently during a tour of the building. “We’ve had some people look at this and talk about restaurants or something like that.”
But Kosta said it’s likely it will be utilized as office space.
“We’re starting to see a lot of people coming back to the office,” he said.
3992 Coleman Road, East Lansing
Owner Mike Howard said the 1,830-square-foot former Tim Hortons at the corner of Coleman and Chandler roads is perfectly positioned to serve a fast-casual restaurant.
The property has been vacant for five years and on the market to buy or lease for about a year. Howard, a real estate agent with Colliers, bought it last spring, and has primarily marketed it to national companies.
Howard is in the process of working through a pending lease with a “national pizza chain,” though he declined to name them because the paperwork hasn’t been finalized. The business, which could open in six to 12 months, will utilize a pickup window on the building, he said.
“I’ve got some work to do on the outside of the building,” Howard said.
172 E. Edgewood Blvd., Lansing
The 5,286-square-foot former Hooters restaurant off East Edgewood Boulevard has been vacant since the chain closed the location in July 2019.
Kosta has been representing the property, on the market to lease, for six months. It sits on over an acre of land near Celebration Cinema Lansing & IMAX and Texas Roadhouse.
The property’s owner would prefer to lease it, but would entertain offers to buy it, though there is no price listed, Kosta said.
The building already has kitchen equipment, including a large oven hood, multiple fryers, a grill, a walk-in freezer and a refrigerator, but Kosta said whoever leases or buys it would likely want to make it their own.
“It’s going to take a substantial investment for somebody to do that,” he said. “I have seen interest, not from the regional or national restaurateurs we would like. We got a lot more interest from local mom-and-pop operators, which just makes it that much harder of a business model for them to come in there and do the kind of revenue that’s needed.”
2006 W. Willow St., Lansing
The nearly 7,000-square-foot building on West Willow Street has been vacant and on the market since late 2021 when DeLuca’s Restaurant closed its doors after more than 60 years of business. The property is listed for $649,900.
It remains for sale, despite having quite a lot to offer prospective buyers, said Gino Baldino, a real estate agent with NAI Mid-Michigan, which has represented the property for just over a year. Whoever buys it will get all the kitchen equipment, ovens and seating that is still inside, the restaurant’s liquor license, and ample parking on nearly an acre and a half.
“It’s a great building,” Baldino said. “The owners still maintain it very, very well. It is basically ready to go.”
Over the years, agents have shown the property to several prospective buyers, he said.
“I get inquiries,” he said. “Sometimes they go in spurts. Sometimes I get two or three calls in a week and sometimes, for a couple of weeks, I don’t get a call.”
Most of the people he’s shown the property to were considering opening their own restaurant, Baldino said.
809 E. Michigan Ave., Lansing
The nearly 15,000-square-foot building on East Michigan Avenue where Jon Anthony Florist has operated for at least 50 years sits on just over an acre and has over 200 feet of street frontage.
The property has been on the market for two years, listed for $1.6 million, but the flower shop, which dates back to the 1940s, still operates there. When the property sells, the flower business won’t close. It will likely move to a new location, said Pamela Sage.
Sage’s parents, and the founders of the flower shop, John and Harriet Anthony, passed away in the last five years.
“I’m the executor of their estate,” Sage said. “So we need to sell the property and settle with the rest of the inheritors.”
The decision to sell the property was emotional, she said.
“It was so much of my parents’ life. They absolutely loved their business. My mother worked there until she was 96,” she said.
Kosta, who is representing the property, said it’s been marketed to national companies, including restaurant groups.
“This property really just sets up well for redeveloping,” he said. “It’s an older building. I don’t think somebody will reuse the building, but to come in there and demolish it, you have a really good site. This has a lot of potential being right on Michigan Avenue.”
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Contact Reporter Rachel Greco at rgreco@lsj.com. Follow her on X @GrecoatLSJ .