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Property profile & analytics
OFF-MARKET
Retail space
1009 Washington Ave, Lansing, MI 48910-1646
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US43-5294279
Property profile
Verified
Property type
Retail space
Use group
STORE, RETAIL OUTLET
Year built
1999
Total area
8,001 SF
Lot
0.4 ac (17,424 SF)
Zoning code
F-1 COM
APN
33-01-01-21-252-014
UPID
US43-5294279
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
-
Lansing Heating & Cooling Hardware & Home Improvement HVAC Service
-
Builders' Hardware Co Building Supply Hardware & Home Improvement
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Tenkey Development LLC · 7 yrs held
Tenkey Development LLC
since 2019
7 recorded transactions
Zoning & alternative use
F-1 COM · Lansing, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$14,353
Tax year 2020
Assessed value
$230,100
Assessed 2023
Previous assessed
$222,200
+3.6% YoY
Effective rate
6.24%
On assessed value
Assessed land
$24,000
Assessed improvement
$206,100
Land market value
$48,000
Improvement market value
$412,200
Total market value
$460,200
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
STORE, RETAIL OUTLET
Status
Off-Market
Year built
1999
Heating
YES
Stories
1
Bathrooms
1
Total area
8,001 SF
Lot
0.4 ac (17,424 SF)
Zoning code
F-1 COM
APN
33-01-01-21-252-014
UPID
US43-5294279
Jurisdiction
INGHAM
Zoning & alternative use
F-1 COM · Lansing, MI
Zoning F-1 COM · permitted uses
F-1 COM · 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.
Building & site characteristics
From public records
Year built
1999
Heating
YES
Stories
1
Bathrooms
1
Lot
0.4 ac
Current owner
From public records · entity-resolved
Tenkey Development LLC
Entity
Mailing address
1009 S WASHINGTON AVE, LANSING, MI 48910-1646
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 10, 2019
—
Tenkey Dev LLC
—
Deed
related
$229,000 · Community Dev Commission
May 7, 2019
$550,000
Tenkey Development LLC
D & J Commercial Properties LLC
Warranty Deed
$275,000 · Pnc Bank NA
Feb 16, 2016
—
D & J Commercial Properties Ll
—
Trustees Deed
related
$382,500 · Commercial Bk
Feb 12, 2016
$325,100
D & J Commercial Prop LLC
Green Synerfy Investments LLC
Warranty Deed
—
Mar 11, 2010
$230,000
Green Synergy Investments LLC
Citizens Bk
Warranty Deed
—
Sep 10, 2009
$240,000
Citizens Bk
Sheriff Of Ingham County
Trustees Deed
related
—
Jan 6, 2005
$350,000
Theodore D Samra JR
Theodore D Samra
Intrafamily Transfer
related
$365,000 · Republic Bank
—
—
Tenkey Dev LLC
—
Deed Of Trust
related
$229,000 · Community Dev Commission
—
—
Green Synergy Investments LLC
—
Deed Of Trust
related
$330,000 · Crain James D Trust
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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