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Property profile & analytics
OFF-MARKET
Estimated value
$865,000
Retail residential properties
1135 Washington Ave 1 Lansing, MI 48906-4842
Individually Owned
Free & Clear
Property ID
US43-3628316
Property profile
Verified
Property type
Retail residential properties
Use group
STORES & APARTMENTS
Year built
1909
Total area
9,119 SF
APN
94-33-02-09-331-181
UPID
US43-3628316
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
-
Cuttin Up Barber Shop Barber Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$634k
Blend (final)
Blend
$865k
Owner & transaction history
SAED S SABOURY
SAED S SABOURY
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$795,000
+80.4%
Auto repair, garage
$780,000
+76.4%
Medical building
$775,000
+75.8%
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
$795,000
Change: +80% · Conversion: Difficult
AUTO REPAIR, GARAGE
$780,000
Change: +76% · Conversion: Difficult
MEDICAL BUILDING
$775,000
Change: +76% · Conversion: Easy
OFFICE BUILDING
$770,000
Change: +74% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$585,000
Change: +33% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$570,000
Change: +30% · Conversion: Moderate
RETAIL STORES
$525,000
Change: +19% · Conversion: Easy
Blend value · Realmo final
$865k
Range $779k – $952k · ±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
$95 / 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
$14,430
Tax year 2020
Assessed value
$405,800
Assessed 2023
Previous assessed
$432,900
-6.3% YoY
Effective rate
3.56%
On assessed value
Assessed improvement
$405,800
Improvement market value
$811,600
Total market value
$811,600
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 residential properties
Use group
STORES & APARTMENTS
Status
Off-Market
Year built
1909
Heating
STEAM
Stories
2
Total area
9,119 SF
APN
94-33-02-09-331-181
UPID
US43-3628316
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
Est. value
$795,000
AUTO REPAIR, GARAGE
Est. value
$780,000
MEDICAL BUILDING
Est. value
$775,000
OFFICE BUILDING
Est. value
$770,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$585,000
INDUSTRIAL (GENERAL)
Est. value
$570,000
RETAIL STORES
Est. value
$525,000
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
INDUSTRIAL (GENERAL)
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
1909
Heating
STEAM
Stories
2
Current owner
From public records · entity-resolved
SAED S SABOURY
Individual
Free & Clear · 0 yrs held
Mailing address
PO BOX 1331, EAST LANSING, MI 48826-1331
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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