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    6951 Lansing Rd Charlotte, MI 48813
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    6951 Lansing Rd, Charlotte, MI 48813

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    • Retail properties & Spaces
    • 13,571 SF
    • 2.14 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 6951 Lansing Rd

    Lot size
    2.14 lot acres
    Property type
    Retail properties & Spaces
    Property subtype
    Restaurants

    Description

    Exceptional opportunity to acquire a vacant, 13,571-square-foot free-standing restaurant building in Charlotte, Michigan. This property, formerly the Fireside Grill, boasts a prime location on Lansing Road, just half a mile south of the I-96/69 interchange, benefiting from high traffic volume and visibility. The building features three banquet rooms, a sports pub area, and an outdoor seating patio, providing ample space for diverse operations. A large-capacity kitchen is equipped with substantial cooler and freezer capacity, ideal for catering or large-scale food preparation. The 2.14-acre lot offers extensive parking with capacity for approximately 138 vehicles. The property is situated near the State of Michigan Secondary Complex and State Police Headquarters and Training Center, ensuring a consistent flow of potential customers. This NNN-leased property is vacant and presents a unique chance to establish a thriving restaurant business in a high-growth area experiencing increased commerce due to the nearby freeway interchange. The property's APN is 080-009-200-053-01. This is a turn-key opportunity for an experienced restaurateur looking to capitalize on a high-traffic location and well-maintained building.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Charlotte
    County
    Eaton
    State
    Michigan
    Longitude
    -84.6651
    Latitude
    42.6683

    Comparable in this City

    • Value Estimation by Request
      86,950 SF

      1660 Lansing Rd

      Lifestyle centers
      1660 Lansing Rd, Charlotte, MI 48813
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    • Value Estimation by Request
      2,543 SF

      503 Lansing Rd

      DRIVE-THRU RESTAURANT, FAST FOOD
      503 Lansing Rd, Charlotte, MI 48813-7307
      View Details
    • Value Estimation by Request
      843 SF

      640 Lansing St

      DRIVE-THRU RESTAURANT, FAST FOOD
      640 Lansing St, Charlotte, MI 48813-8449
      View Details
    • Value Estimation by Request
      4,112 SF

      1642 Packard Hwy

      RESTAURANT
      1642 Packard Hwy, Charlotte, MI 48813-9717
      View Details
    • Value Estimation by Request
      4,359 SF

      524 Lansing St

      DRIVE-THRU RESTAURANT, FAST FOOD
      524 Lansing St, Charlotte, MI 48813-1116
      View Details
    • Value Estimation by Request
      5,528 SF

      207 Lansing St

      DRIVE-THRU RESTAURANT, FAST FOOD
      207 Lansing St, Charlotte, MI 48813-1605
      View Details

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    Charlotte, MI 48813
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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