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Property profile & analytics
OFF-MARKET
Estimated value
$720,000
Grocery and convenience stores
1019 State Rd, Lansing, MI 48906-5674
Entity Owned
19-yr Hold
~
Est. High Equity
Property ID
US43-2037882
Property profile
Verified
Property type
Grocery and convenience stores
Use group
CONVENIENCE STORE
Year built
2001
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
6,494 SF
Lot
1.68 ac (73,181 SF)
Zoning code
BC
APN
050-131-000-075-60
UPID
US43-2037882
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
-
Domino's Pizza Take-out & Catering
-
ATM Atm Professional Services
-
Marathon Gas Station
-
Dewitt Sunoco Gas Station
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$720k
Owner & transaction history
Rs Real Investments LLC · 19 yrs held
Rs Real Investments LLC
since 2006
3 recorded transactions
Zoning & alternative use
BC · Lansing, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$860,000
+168.2%
Restaurant
$810,000
+152.8%
Commercial (general)
$620,000
+94.0%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$860,000
Change: +168% · Conversion: Difficult
RESTAURANT
$810,000
Change: +153% · Conversion: Difficult
COMMERCIAL (GENERAL)
$620,000
Change: +94% · Conversion: Easy
RETAIL STORES
$525,000
Change: +64% · Conversion: Easy
OFFICE BUILDING
$525,000
Change: +64% · Conversion: Moderate
MEDICAL BUILDING
$500,000
Change: +56% · Conversion: Difficult
Blend value · Realmo final
$720k
Range $648k – $792k · ±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
$111 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$28,260
Tax year 2022
Assessed value
$676,900
Assessed 2024
Previous assessed
$715,700
-5.4% YoY
Effective rate
4.17%
On assessed value
Assessed land
$192,800
Assessed improvement
$484,100
Land market value
$385,600
Improvement market value
$968,200
Total market value
$1,353,800
Applied tax rate
50.0000
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
Grocery and convenience stores
Use group
CONVENIENCE STORE
Status
Off-Market
Year built
2001
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Stories
1
Total area
6,494 SF
Lot
1.68 ac (73,181 SF)
Zoning code
BC
APN
050-131-000-075-60
UPID
US43-2037882
Jurisdiction
CLINTON
Zoning & alternative use
BC · Lansing, MI
Zoning BC · permitted uses
BC · 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
AUTO REPAIR, GARAGE
Est. value
$860,000
RESTAURANT
Est. value
$810,000
COMMERCIAL (GENERAL)
Est. value
$620,000
RETAIL STORES
Est. value
$525,000
OFFICE BUILDING
Est. value
$525,000
MEDICAL BUILDING
Est. value
$500,000
AUTO REPAIR, GARAGE
RESTAURANT
COMMERCIAL (GENERAL)
RETAIL STORES
OFFICE BUILDING
MEDICAL 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
2001
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Stories
1
Lot
1.68 ac
Current owner
From public records · entity-resolved
Rs Real Investments LLC
Entity
Mailing address
1019 E STATE RD, LANSING, MI 48906-5674
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2006
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 2, 2020
—
Rs Real Investments LLC
—
Deed
related
$1,178,400 · Arbor Financial Cu
May 11, 2016
—
Rs Real Investments LLC
—
Deed
related
$250,000 · Marathon Flint Oil Company
Oct 13, 2006
$2,200,000
Rs Real Investments LLC
Family Investment & Wholesale INC
Warranty Deed
$863,000 · Bank Of The West
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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