Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Property profile & analytics

    1503 Glastonbury Dr Saint Johns, MI 48879-8275

    • Medical offices
    • 4,943 SF
    • 1.01 lot acres
    OFF-MARKET
    Value Estimations
    $300,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-0760430
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Medical offices

    Property Details for 1503 Glastonbury Dr

    Year built
    2001
    Lot size
    1.01 lot acres
    Property size
    4,943 SF
    Zone code
    O
    Property type
    Medical offices
    Property subtype
    Medical space
    APN
    300-021-100-010-13
    APU
    30002110001013

    Description

    This exceptional 1,691 square foot medical office suite is available for lease at 1503 Glastonbury Drive in Lansing's desirable medical submarket. Located in a single-story, dual-tenant building constructed in 2001, this space offers a prime opportunity for medical professionals seeking a well-appointed and conveniently located practice. The suite boasts three exam rooms, dedicated office space, a functional lab area, a comfortable break room, and a welcoming waiting room complete with a reception window. Previously occupied by a dental practice, the space is ready for immediate occupancy and customization to suit your specific needs. The property sits on a 1.01-acre lot and includes ample parking with 24 spaces available for patients and staff. The building's address is conveniently located south of downtown St. Johns, offering easy access to US-127. The property is zoned O - Commercial and has an APN of 300-021-100-010-13. The total building size is 4,943 square feet, with 1,691 square feet currently vacant. This single-tenant suite presents a unique opportunity to establish or expand your medical practice in a thriving location. Don't miss this chance to secure this well-equipped and strategically positioned medical office space.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $285,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $411,000
      Market price range: $212k - $534k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Saint Johns
    County
    Clinton
    State
    Michigan
    Longitude
    -84.5493
    Latitude
    42.9861
    CBSA code
    29620
    CBSA name
    LANSING-EAST LANSING, MI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $9,085
    $21,600
    $323,600
    $345,200
    -
    $43,200
    $647,200
    $690,400

    Comparable in this City

    • Value Estimation
      $480,000
      3,102 SF

      1014 Clinton Ave

      DENTAL BUILDING • 3,102 SF
      1014 Clinton Ave, Saint Johns, MI 48879-1092
      View Details
    • Value Estimation
      $275,000
      1,798 SF

      923 Oakland St

      DENTAL BUILDING • 1,798 SF
      923 Oakland St, Saint Johns, MI 48879-1063
      View Details
    • Value Estimation
      $295,000
      6,205 SF

      1002 Us Hwy 27

      MEDICAL BUILDING • 6,205 SF
      1002 Us Hwy 27, Saint Johns, MI 48879-1129
      View Details
    • Value Estimation
      $260,000
      1,800 SF

      1004 Us Hwy 27

      MEDICAL BUILDING • 1,800 SF
      1004 Us Hwy 27, Saint Johns, MI 48879-1129
      View Details
    • Value Estimation
      $265,000
      4,539 SF

      1505 Waterford Pkwy

      MEDICAL BUILDING • 4,539 SF
      1505 Waterford Pkwy, Saint Johns, MI 48879-9630
      View Details
    • Value Estimation
      $300,000
      4,608 SF

      1507 Waterford Pkwy

      MEDICAL BUILDING • 4,608 SF
      1507 Waterford Pkwy, Saint Johns, MI 48879-9630
      View Details

    Similar Nearby for Sale

    • $1,600,000
      18,747 SF

      St. Johns Commercial Building

      18,000 SF commercial building in downtown St. Johns.
      108 W Higham St, Saint Johns, MI 48879
      View Details
    • $895,000

      Versatile Office Building For Sale

      10,230 SF office building with functional layout.
      106 W Tolles Dr, Saint Johns, MI 48879
      View Details
    • $795,000
      3.22 Acres

      Prime Commercial Land Near Walmart

      3.22 Acres, C-2 Zoning, High Visibility
      Johns MI 48879 Ontario Dr/Huron St, Saint Johns, MI 48879
      View Details
    • $495,000
      1.57 Acres

      Prime St. Johns Retail Land

      1.57-acre C-2 zoned lot, approved drive-thru
      0 Townsend Rd, Saint Johns, MI 48879
      View Details
    • $399,000
      6,000 SF

      Fountain Hall Warehouse - St. Johns, MI

      6,000 SF Warehouse - $399,000
      4041 Old, Saint Johns, MI 48879
      View Details
    • $495,000

      High-Profile Corner Lot Available

      3.22 acre commercial land with frontage on Business US-127.
      Vacant Ontario Dr, Saint Johns, MI 48879
      View Details

    Similar Nearby for Lease

    • $13 SF/Yr
      2,797 SF

      Prime Saint Johns Retail/Office Space

      High-visibility, 2-suite office building
      902 Us-127 Bus, Saint Johns, MI 48879
      View Details
    • Contact for pricing
      1,500 SF

      2405-2421 Ontario Dr, Saint Johns, MI

      Shopping centers • 1,500 SF
      2405-2421 Ontario Dr, Saint Johns, MI 48879
      View Details
    • $5 SF/Yr
      332,750 SF

      Tri-Temp Industrial Facility Lease

      Massive Cold Storage Warehouse Available
      1701 Technical Dr, Saint Johns, MI 48879
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1503 Glastonbury Dr
    Saint Johns, MI 48879-8275
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.