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Property profile & analytics
OFF-MARKET
Estimated value
$1,585,000
Retail space
410 Jolly Rd 10 Lansing, MI 48910-6649
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US43-4880282
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2002
Total area
14,418 SF
Lot
1.47 ac (63,946 SF)
Zoning code
F COMM
APN
33-01-05-04-201-150
UPID
US43-4880282
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Walgreens Photo (Bike/Boat/Book/etc) Store
-
Walgreens Pharmacy Pharmacy
-
FedEx OnSite Postal Service Courier Service
-
Redbox Cinema (Bike/Boat/Book/etc) Store
-
Loan Till Payday Online Loan Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.01M
Comparable Approach
Comparable
$1.18M
Blend (final)
Blend
$1.59M
Owner & transaction history
Rgmz Wa Cmbs LLC · 4 yrs held
Rgmz Wa Cmbs LLC
since 2022
6 recorded transactions
Zoning & alternative use
F COMM · Lansing, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.3M
+45.5%
Auto repair, garage
$1.2M
+42.3%
Medical building
$1.2M
+41.8%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Lansing submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lansing submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$2,175,000
6.5%
$2,010,000
7%
$1,865,000
Alternative Use
Use
Estimation
RESTAURANT
$1,260,000
Change: +45% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,230,000
Change: +42% · Conversion: Difficult
MEDICAL BUILDING
$1,225,000
Change: +42% · Conversion: Difficult
OFFICE BUILDING
$1,005,000
Change: +16% · Conversion: Easy
Blend value · Realmo final
$1.59M
Range $1.43M – $1.74M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$110 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2020Property tax & assessments
Tax year 2020
Tax billed
$48,302
Tax year 2020
Assessed value
$812,000
Assessed 2023
Previous assessed
$839,500
-3.3% YoY
Effective rate
5.95%
On assessed value
Assessed land
$124,900
Assessed improvement
$687,100
Land market value
$249,800
Improvement market value
$1,374,200
Total market value
$1,624,000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2002
Heating
YES
Stories
1
Bathrooms
2
Total area
14,418 SF
Lot
1.47 ac (63,946 SF)
Zoning code
F COMM
APN
33-01-05-04-201-150
UPID
US43-4880282
Jurisdiction
INGHAM
Zoning & alternative use
F COMM · Lansing, MI
Zoning F COMM · permitted uses
F COMM · Lansing, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lansing. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$1.3M
AUTO REPAIR, GARAGE
Est. value
$1.2M
MEDICAL BUILDING
Est. value
$1.2M
OFFICE BUILDING
Est. value
$1.0M
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2002
Heating
YES
Stories
1
Bathrooms
2
Lot
1.47 ac
Current owner
From public records · entity-resolved
Rgmz Wa Cmbs LLC
Entity
Mailing address
PO BOX 1159, DEERFIELD, IL 60015-6002
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 6, 2022
—
Rgmz Wa Cmbs LLC
Upstream Properties Fund I LLC
Deed
—
Dec 3, 2020
$48,434
Upstream Properties Fund I LLC
Lansing Mi Wag LLC
Deed
—
Aug 14, 2020
—
Cardinal G Investments LLC
L L C Glenagain
Warranty Deed
related
$4,123,090 · Northern Tr
Aug 14, 2020
$116
Lansing Mi Wag LLC
Cardinal Green Investments LLC
Warranty Deed
related
—
May 26, 2016
—
Glenagain LLC
—
Deed
related
$2,500,000 · Mercantile Bk/mi
—
—
Glenagain LLC
—
Deed Of Trust
related
$2,500,000 · Mercantile Bk/mi
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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