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Property profile & analytics
OFF-MARKET
Grocery and convenience stores
1120 Grand Riv Ave 3, East Lansing, MI 48823-4642
Entity Owned
4-yr Hold
Free & Clear
Property ID
US43-1187313
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1962
Total area
427 SF
Lot
0.32 ac (13,939 SF)
Zoning code
EV
APN
33-20-02-18-424-010
UPID
US43-1187313
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
-
Admiral Petroleum Co Auto Repair Shop
-
Western Union Bank Credit Union
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
Afn Absprop002 LLC · 4 yrs held
Afn Absprop002 LLC
since 2021
4 recorded transactions
Zoning & alternative use
EV · East 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 East Lansing submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs East 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 2019Property tax & assessments
Tax year 2019
Tax billed
$6,795
Tax year 2019
Assessed value
$104,100
Assessed 2023
Previous assessed
$100,800
+3.3% YoY
Effective rate
6.53%
On assessed value
Assessed land
$55,800
Assessed improvement
$48,300
Land market value
$111,600
Improvement market value
$96,600
Total market value
$208,200
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
1962
Heating
YES
Cooling
AC.PACKAGE
Stories
1
Total area
427 SF
Lot
0.32 ac (13,939 SF)
Zoning code
EV
APN
33-20-02-18-424-010
UPID
US43-1187313
Jurisdiction
INGHAM
Zoning & alternative use
EV · East Lansing, MI
Zoning EV · permitted uses
EV · East Lansing, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
East Lansing. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1962
Heating
YES
Cooling
Yes
Stories
1
Lot
0.32 ac
Current owner
From public records · entity-resolved
Afn Absprop002 LLC
Entity
Free & Clear · 4 yrs held
Mailing address
38 WASHINGTON SQ, NEWPORT, RI 02840-2946
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 30, 2021
—
Afn Absprop002 LLC
Arg Gpm32pk001 LLC
Deed
—
Aug 21, 2020
—
Vault Admiral LLC
Tempest Ventures INC
Grant Deed
related
—
Jun 8, 2016
—
Tempest Ventures INC
Admiral Petroleum Co
Grant Deed
—
Dec 10, 2003
—
Admiral Petroleum Co
Otg 3 LLC
Quit Claim Deed
related
—
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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