Financial
Distress signals
Property profile

2323 Michigan Ave Lansing, MI 48912

OFF-MARKET
Drive through restaurants
Property ID
US43-5272505
1,594 SF 0.2 ac lot Built 1969
Last sale Mar 2025 · $236,500
Entity Owned Owner of record is a legal entity (LLC / corporation). 1-yr Hold Held for 1 years. Free & Clear No active or open recorded mortgage detected.
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Property summary

AI-generated overview

A freestanding restaurant/QSR building with a drive-thru-friendly layout and forced-air rooftop HVAC in place. The property includes an on-site parking lot and was previously operated as a quick-service restaurant/deli (Blimpie). The building is approximately 1,594 square feet and has been configured for food-service use, with interior contents included as part of the operating setup. The site is located at the signalized intersection of Michigan Ave & Clippert St in Lansing and is positioned…

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. In the full report.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with the full report.

Mortgages

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — in the full report.

Property tax · 2020

What does the county charge?
$8k
Tax billed · 2020
Assessed value · 2023$143k
Assessed land$31k
Assessed improvement$112k
Effective rate5.27%

Value estimate

· Sep 2026
$265k
$239k – $292k
AI approach$265k

Realmo valuation models over county records.

Recently sold

What actually traded nearby?
$87/SF
Submarket average, outlier-cleaned · 24 recorded sales of this use type
Observed band · Q1–Q3$55 – $118

Cap rate analysis

How does the asset earn?

No income signal is modeled for this parcel yet — the Cap Rates tab runs the workflow.

Zoning insight

What can be built here?
F-1 COM
JurisdictionINGHAM

Location intelligence

Which uses thrive at this corner?
Best fit: HVAC Service
Demand heat for this use is drawn on the map · LocInt grid
Demand index
HVAC Service11.8
Daycare Center11.1
Electrical Service10.6

Location

2323 Michigan Ave Lansing, MI 48912-4017
County assessor Recorded deeds · 2 transfers Qualifying comp sales · not on file Zoning catalog

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

6 recorded sales · 18 properties nearby
Recent sales nearby
6 recorded sales in this ZIP, last 8 years
Address Sale price Sold Size
1918 Michigan, Lansing, MI 48912-2829 $220,000 Jun 2025 1,536 SF
1520 Michigan, Lansing, MI 48912-2221 $175,000 Feb 2024 1,540 SF
1522 Michigan, Lansing, MI 48912-2221 $175,000 Feb 2024 1,540 SF
1723 Michigan, Lansing, MI 48912-2824 $350,000 Mar 2022 1,596 SF
1900 Kalamazoo, Lansing, MI 48912-2735 $2,500,000 Mar 2021 1,440 SF
419 Clippert, Lansing, MI 48912-4603 $180,000 Aug 2020 1,500 SF
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby
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