New search
Property profile & analytics
OFF-MARKET
Estimated value
$1,260,000
Turn key restaurants
111 Michigan Ave, Lansing, MI 48933-1376
Entity Owned
14-yr Hold
~
Est. High Equity
Property ID
US43-1915372
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
2009
Total area
11,273 SF
Lot
0.14 ac (6,011 SF)
APN
33-01-01-16-255-007
UPID
US43-1915372
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
-
Troppo Garage Cosmetics Cosmetic Store
-
Troppo Cosmetics Cosmetic Store
-
Tavern and Tap Bar & Pub Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.29M
Blend (final)
Blend
$1.26M
Owner & transaction history
St Anne LLC · 14 yrs held
St Anne LLC
since 2011
3 recorded transactions
Zoning & alternative use
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
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
RESTAURANT
$985,000
Current use
AUTO REPAIR, GARAGE
$960,000
Change: -2% · Conversion: Difficult
MEDICAL BUILDING
$960,000
Change: -3% · Conversion: Difficult
OFFICE BUILDING
$930,000
Change: -5% · Conversion: Moderate
RETAIL STORES
$805,000
Change: -18% · Conversion: Easy
Blend value · Realmo final
$1.26M
Range $1.13M – $1.39M · ±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
$112 / 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 2020Property tax & assessments
Tax year 2020
Tax billed
$37,731
Tax year 2020
Assessed value
$706,600
Assessed 2023
Previous assessed
$681,000
+3.8% YoY
Effective rate
5.34%
On assessed value
Assessed land
$30,000
Assessed improvement
$676,600
Land market value
$60,000
Improvement market value
$1,353,200
Total market value
$1,413,200
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
2009
Heating
YES
Stories
3
Total area
11,273 SF
Lot
0.14 ac (6,011 SF)
APN
33-01-01-16-255-007
UPID
US43-1915372
Jurisdiction
INGHAM
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT Current
Est. value
$985,000
AUTO REPAIR, GARAGE
Est. value
$960,000
MEDICAL BUILDING
Est. value
$960,000
OFFICE BUILDING
Est. value
$930,000
RETAIL STORES
Est. value
$805,000
RESTAURANT Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
OFFICE BUILDING
RETAIL STORES
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
2009
Heating
YES
Stories
3
Lot
0.14 ac
Current owner
From public records · entity-resolved
St Anne LLC
Entity
Mailing address
PO BOX 4067, EAST LANSING, MI 48826-4067
Ownership since
2011
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
Dec 29, 2011
—
St Anne LLC
—
Grant Deed
related
$4,200,000 · Wolverine Bank Fsb
—
—
Oma Mcpat LLC
—
Deed Of Trust
related
$125,000 · Wolverine Bank Fsb
—
—
Oma Mcpat LLC
—
Deed Of Trust
related
$628,000 · Michigan Certified Development
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 111 Michigan Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
