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FOR LEASE
Office buildings
1213 Center St, Lansing, MI 48906
Entity Owned
~
Est. High Equity
Property ID
US43-1965366
For Lease
1 / 32
$18 SF/Yr
1213 Center St, Lansing, MI 48906
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Property summary
AI-generated overview
This exceptional commercial property, located at 1213 Center St, Lansing, MI 48906 (cross streets: E. Caesar E. Chavez Ave), offers a unique opportunity. The property consists of two buildings totaling 12,981 square feet, connected by a convenient breezeway. Currently configured for single-tenant use, this versatile space is ideal for a variety of businesses. The property sits on a generous 8.6-acre lot and is classified as a Class B building. Extensive renovations were completed in 2007, ensuring modern amenities and functionality. The property features ample on-site parking, complemented by convenient street parking. A significant amount of storage space is available in the basement of the front building, adding to the property's practicality. This prime Old Town location offers excellent visibility and accessibility, making it an attractive option for businesses seeking a high-profile presence in Lansing. The property's Ingham County location (APN: 33-01-01-09-257-193) provides easy access to major transportation routes and local amenities. The property is zoned for office and retail use, offering flexibility for potential tenants. This is a rare opportunity to acquire a substantial and well-maintained commercial property in a highly desirable area.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1912
Total area
7,189 SF
Lot
0.86 ac (37,462 SF)
Zoning code
H LT IN
APN
33-01-01-09-257-193
UPID
US43-1965366
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
-
Michigan Fitness Foundation Charitable Organization
-
The Autism Society of Michigan Charitable Organization Social Service Agency
-
Michigan Association for Health, Physical Education, Recreation and Dance (MAHPERD) Association / Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$819k
Blend (final)
Blend
$785k
Owner & transaction history
First National Bank Of America
First National Bank Of America
since 2025
7 recorded transactions
Zoning & alternative use
H LT IN · Lansing, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$625,000
+3.7%
Auto repair, garage
$615,000
+1.4%
Medical building
$610,000
+1.0%
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
OFFICE BUILDING
$605,000
Current use
RESTAURANT
$625,000
Change: +4% · Conversion: Moderate
AUTO REPAIR, GARAGE
$615,000
Change: +1% · Conversion: Difficult
MEDICAL BUILDING
$610,000
Change: +1% · Conversion: Easy
Blend value · Realmo final
$785k
Range $707k – $864k · ±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
$109 / 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
$26,358
Tax year 2022
Assessed value
$500,600
Assessed 2023
Previous assessed
$419,200
+19.4% YoY
Effective rate
5.27%
On assessed value
Assessed land
$93,600
Assessed improvement
$407,000
Land market value
$187,200
Improvement market value
$814,000
Total market value
$1,001,200
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
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1912
Heating
YES
Buildings
2
Stories
1
Bathrooms
3
Total area
7,189 SF
Lot
0.86 ac (37,462 SF)
Zoning code
H LT IN
APN
33-01-01-09-257-193
UPID
US43-1965366
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
OFFICE BUILDING Current
Est. value
$605,000
RESTAURANT
Est. value
$625,000
AUTO REPAIR, GARAGE
Est. value
$615,000
MEDICAL BUILDING
Est. value
$610,000
OFFICE BUILDING Current
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
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
1912
Heating
YES
Stories
1
Buildings
2
Bathrooms
3
Lot
0.86 ac
Current owner
From public records · entity-resolved
First National Bank Of America
Entity
Mailing address
232 N VERLINDEN AVE, LANSING, MI 48915-1277
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 27, 2025
$1,240,855
First National Bank Of America
Brownfield Development Specialists
Deed
related
—
Nov 24, 2020
—
Brownfield Development Special
—
Deed
related
$50,000 · First Nat'l Bk/america
Aug 6, 2019
—
Brownfield Development Specialists
—
Deed
related
$1,300,000 · First National Bank Of America
Oct 4, 2011
—
Brownfield Dev Specialists LLC
—
Trustees Deed
related
$1,280,000 · Independent Bank
May 10, 2007
$435,000
Brownfield Dev Specialists LLC
1213 Center Street LLC
Warranty Deed
$840,000 · Franklin Bank
Oct 26, 2006
$880,000
1213 Center Street LLC
Sheriff Of Ingham County
Trustees Deed
related
—
—
—
Brownfield Dev Specialists LLC
—
Deed Of Trust
related
$1,320,000 · Firstbank
—
—
Brownfield Dev Specialists LLC
—
Deed Of Trust
related
$1,387,700 · Wolverine Bank Fsb
—
—
Brownfield Development Special
—
Deed Of Trust
related
$50,000 · First Nat'l Bk/america
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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