June 2014 Bank Owned and Distressed Commercial Real Estate Update for Lansing MI Including Eaton, Ingham and Clinton Counties

Here is the June, 2014 REO / Bank Owned and distressed assets / Real Estate update for the Lansing / East Lansing market. This market area includes Okemos, Haslett, Holt, Mason, Portland, Williamston, Eaton Rapids and neighboring communities.

The commercial bank owned market has considerably dried up in 2014, in Mid Michigan. Listed properties have dropped by more than 70% year over year which has kept pricing higher. While commercial bank owned properties still represent a value in the market, the deals are few and far between this year.

 

New Listings:

8010749_Exterior301 Williamston Center, Williamston MI

This lender owned property features 1,818 Sq Ft of office space. The office condo was formerly a chiropractic office and has reception and waiting areas, private office and large open work spaces. There is even an x ray room built.

                                                                                 Offered at $130,000

Sold Properties:

IMG_00000774930 E Mt Hope Lansing, MI

Sold at $75,000 from an original list price of $99,000. 103 days on the market

 

 

For more information on bank owned and bankruptcy properties in Michigan, please contact Matthew Wisniewski at RE/MAX Commercial Group today. With access to the latest offerings including multifamily, shopping centers, office, retail and office bank owned property, RE/MAX Commercial Group can assist you even if the property you are looking for is not yet on the market. Visit us today at http://www.rcgmichigan.com to search additional listings, virtually meet the commercial team and find out more about our services.

For Asset Managers: If you have a property that could benefit from a premier marketing presence, appreciate timely completion of assignments and regular feedback, our commercial marketing professionals are available for assistance in  Lansing , MI and the surrounding metro area. Call 517-321-2800 ext 118 for more information.

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