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Property profile & analytics
OFF-MARKET
Estimated value
$820,000
Retail space
1127 Cedar St, Lansing, MI 48906-5262
Entity Owned
14-yr Hold
~
Est. High Equity
Property ID
US43-1422041
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1945
Total area
20,984 SF
Lot
0.96 ac (41,905 SF)
Zoning code
H LT IN
APN
33-01-01-09-426-051
UPID
US43-1422041
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
-
Preuss Pets (Bike/Boat/Book/etc) Store Pet Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$625k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$762k
Blend (final)
Blend
$820k
Owner & transaction history
Kay Kirby LLC · 14 yrs held
Kay Kirby LLC
since 2012
3 recorded transactions
Zoning & alternative use
H LT IN · Lansing, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$1.3M
+11.7%
Industrial (general)
$1.3M
+9.2%
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
$625,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$1,205,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$1,345,000
Change: +12% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$1,315,000
Change: +9% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,170,000
Change: -3% · Conversion: Difficult
Blend value · Realmo final
$820k
Range $738k – $902k · ±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
$39 / 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
$26,445
Tax year 2020
Assessed value
$425,000
Assessed 2023
Previous assessed
$453,200
-6.2% YoY
Effective rate
6.22%
On assessed value
Assessed land
$75,400
Assessed improvement
$349,600
Land market value
$150,800
Improvement market value
$699,200
Total market value
$850,000
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
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1945
Heating
YES
Stories
1
Total area
20,984 SF
Lot
0.96 ac (41,905 SF)
Zoning code
H LT IN
APN
33-01-01-09-426-051
UPID
US43-1422041
Jurisdiction
INGHAM
Zoning & alternative use
H LT IN · Lansing, MI
Zoning H LT IN · permitted uses
H LT IN · 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
RETAIL STORES Current
Est. value
$1.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.3M
INDUSTRIAL (GENERAL)
Est. value
$1.3M
WAREHOUSE, STORAGE
Est. value
$1.2M
RETAIL STORES Current
NEIGHBORHOOD: SHOPPING CENTER
INDUSTRIAL (GENERAL)
WAREHOUSE, STORAGE
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
1945
Heating
YES
Stories
1
Lot
0.96 ac
Current owner
From public records · entity-resolved
Kay Kirby LLC
Entity
Mailing address
1127 N CEDAR ST, LANSING, MI 48906-5262
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2012
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 17, 2019
—
Kay Kirby LLC
—
Grant Deed
related
$1,150,000 · Fifth Third Bk
Jun 22, 2012
—
Kay Kirby LLC
Kirby Kay Investments LLC
Quit Claim Deed
$1,340,000 · Huntington National Bank
Oct 18, 2005
$600,000
Kirby Kay Investments LLC
William S Gannon
Warranty Deed
$1,320,000 · Irwin Union Bank & Trust Co
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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