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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1157 Trowbridge Rd East Lansing, MI 48823

    • Office buildings
    • 2,004 SF
    • 0.23 lot acres
    OFF-MARKET
    Value Estimations
    $285,000
    Show details
    Cap Rate Potential
    5.9%
    Office buildings
    Location Intelligence
    Property ID
    US43-1367864
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Office buildings

    Property Details for 1157 Trowbridge Rd

    Year built
    1979
    Lot size
    0.23 lot acres
    Property size
    2,004 SF
    Zone code
    B2
    Property type
    Office buildings
    APN
    33-20-01-24-123-011
    APU
    33200124123011

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $305,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $345,000
      6.5%
      $315,000
      7%
      $295,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $213,000
      Market price range: $27.5k - $317k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $200,000
      Current use
      MEDICAL BUILDING
      $245,000
      Change: +24% Conversion: Easy
      COMMERCIAL (GENERAL)
      $230,000
      Change: +15% Conversion: Easy
      AUTO REPAIR, GARAGE
      $200,000
      Change: +2% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    East Lansing
    County
    Ingham
    State
    Michigan
    Longitude
    -84.4993
    Latitude
    42.7195
    CBSA code
    29620
    CBSA name
    LANSING-EAST LANSING, MI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2019
    $6,399
    $40,200
    $51,200
    $91,400
    -
    $80,400
    $102,400
    $182,800

    Comparable in this City

    • Value Estimation by Request

      2651 Coolidge Rd

      Office space available
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    • Value Estimation
      $1,055,000
      83,709 SF

      333 Grand Riv Ave, Unit 19

      OFFICE BUILDING • 83,709 SF
      333 Grand Riv Ave, East Lansing, MI 48823-4324
      View Details
    • Value Estimation
      $660,000
      24,872 SF

      1401 Lansing Dr Ste, Unit 105

      OFFICE BUILDING • 24,872 SF
      1401 Lansing Dr Ste, East Lansing, MI 48823-7787
      View Details
    • Value Estimation
      $570,000
      18,664 SF

      1427 Saginaw St

      OFFICE BUILDING • 18,664 SF
      1427 Saginaw St, East Lansing, MI 48823-3990
      View Details
    • Value Estimation by Request
      108,045 SF

      2501 Coolidge Rd

      OFFICE BUILDING • 108,045 SF
      2501 Coolidge Rd, East Lansing, MI 48823-6352
      View Details
    • Value Estimation by Request
      14,400 SF

      3515 Coolidge Rd

      OFFICE BUILDING • 14,400 SF
      3515 Coolidge Rd, East Lansing, MI 48823-8014
      View Details

    Similar Nearby for Sale

    • $349,000
      2,004 SF

      Renovated East Lansing Office Building

      Recently renovated office building in East Lansing, ideal for investors.
      1125 Trowbridge Rd, East Lansing, MI 48823
      View Details
    • $425,000
      2,487 SF

      East Lansing Office Investment Opportunity

      Well-maintained office building in East Lansing's Gaslight Village.
      3448 E Lake Lansing Rd, East Lansing, MI 48823
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    • Contact for pricing
      16,720 SF

      Class A Office Space Available

      Class A office building with suites available near US-127.
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      View Details
    • $1,200,000
      11,112 SF

      Renovated Office Building on Okemos Road

      Well-maintained office building with modern workspace and prime location.
      4151 Okemos Rd, East Lansing, MI 48823
      View Details
    • $2,100,000
      13,144 SF

      Lake Lansing Road Office Building

      Office building in Lake Lansing Road business corridor for sale.
      3497 Coolidge Rd, East Lansing, MI 48823
      View Details
    • $2,600,000

      East Lansing Office Building

      Office building for sale in East Lansing, Michigan.
      3505 Coolidge Rd, East Lansing, MI 48823
      View Details

    Similar Nearby for Lease

    • $17 SF/Yr
      22,080 SF

      East Lansing Office Space Available

      Prime Office Building, Ample Parking
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      View Details
    • $15 SF/Yr
      10,533 SF

      Prime East Lansing Executive Office Space

      1,900 SF Available in Asher Court
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    • $15 SF/Yr
      10,000 SF

      East Lansing Office Space - 840 SF Available

      Prime East Lansing office, ample parking, near MSU.
      790 Lake Lansing Rd, East Lansing, MI 48823
      View Details
    • $10 SF/Yr
      10,670 SF

      Grand River Ave Office Space

      Downtown East Lansing Office - 2,000 SF Available
      507 Grand River Ave, East Lansing, MI 48823
      View Details
    • $21 SF/Yr
      8,645 SF

      East Lansing Class A Office Space

      Premium Office Suites, Downtown Location
      333 Albert Ave, East Lansing, MI 48823
      View Details
    • $18 SF/Yr
      5,573 SF

      East Lansing Office Suites Available

      Two office suites available in professionally managed East Lansing building.
      1111 Michigan Ave, East Lansing, MI 48823
      View Details
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    1157 Trowbridge Rd
    East Lansing, MI 48823
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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