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Property profile & analytics
OFF-MARKET
Estimated value
$615,000
Retail space
113 Washington Sq Lansing, MI 48933-1604
Trust Owned
6-yr Hold
Free & Clear
Property ID
US43-1159742
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1881
Total area
17,878 SF
Lot
0.22 ac (9,757 SF)
Zoning code
G-1 BUS
APN
33-01-01-16-183-072
UPID
US43-1159742
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
-
Nelson Gallery Art Gallery
-
Redhead Creative Consultancy Advertising Agency Marketing & Advertising
-
Kositchek's Menswear Clothing & Fashion Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$793k
Blend (final)
Blend
$615k
Owner & transaction history
Kositchek,david H Trust · 6 yrs held
Kositchek,david H Trust
since 2020
3 recorded transactions
Zoning & alternative use
G-1 BUS · Lansing, MI
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
Blend value · Realmo final
$615k
Range $554k – $677k · ±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
$34 / 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
$21,552
Tax year 2022
Assessed value
$339,500
Assessed 2023
Previous assessed
$404,900
-16.2% YoY
Effective rate
6.35%
On assessed value
Assessed land
$48,800
Assessed improvement
$290,700
Land market value
$97,600
Improvement market value
$581,400
Total market value
$679,000
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
1881
Heating
STEAM
Stories
3
Total area
17,878 SF
Lot
0.22 ac (9,757 SF)
Zoning code
G-1 BUS
APN
33-01-01-16-183-072
UPID
US43-1159742
Jurisdiction
INGHAM
Zoning & alternative use
G-1 BUS · Lansing, MIZoning G-1 BUS · permitted uses
G-1 BUS · Lansing, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
code of ordinances
Building & site characteristics
From public records
Year built
1881
Heating
STEAM
Stories
3
Lot
0.22 ac
Current owner
From public records · entity-resolved
Kositchek,david H Trust
Trust
Free & Clear · 6 yrs held
Mailing address
2272 RABY RD, EAST LANSING, MI 48823-7759
Ownership since
2020
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
Mar 10, 2020
—
Kositchek,david H Trust
David H Kositchek
Quit Claim Deed
related
—
May 8, 2019
—
David H Kositchek
Kositchek Ruth L Trust
Quit Claim Deed
related
—
Aug 25, 2010
—
Kositchek,ruth L Trust
Kositchek,ruth L
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.
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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