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Property profile & analytics
OFF-MARKET
Estimated value
$535,000
Retail residential properties
1216 Turner St Lansing, MI 48906-4340
Entity Owned
9-yr Hold
Free & Clear
Property ID
US43-4202578
Property profile
Verified
Property type
Retail residential properties
Use group
STORES & APARTMENTS
Year built
1890
Total area
6,440 SF
Lot
0.08 ac (3,528 SF)
Zoning code
G-1 BUS
APN
33-01-01-09-257-053
UPID
US43-4202578
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$322k
Blend (final)
Blend
$535k
Owner & transaction history
Old Town Jamie LLC · 9 yrs held
Old Town Jamie LLC
since 2017
5 recorded transactions
Zoning & alternative use
G-1 BUS · Lansing, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$560,000
+80.4%
Auto repair, garage
$550,000
+76.4%
Medical building
$550,000
+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
$560,000
Change: +80% · Conversion: Difficult
AUTO REPAIR, GARAGE
$550,000
Change: +76% · Conversion: Difficult
MEDICAL BUILDING
$550,000
Change: +76% · Conversion: Easy
OFFICE BUILDING
$540,000
Change: +74% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$415,000
Change: +33% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$405,000
Change: +30% · Conversion: Moderate
RETAIL STORES
$370,000
Change: +19% · Conversion: Easy
Blend value · Realmo final
$535k
Range $482k – $589k · ±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
$83 / 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
$10,773
Tax year 2020
Assessed value
$205,700
Assessed 2023
Previous assessed
$232,800
-11.6% YoY
Effective rate
5.24%
On assessed value
Assessed land
$5,300
Assessed improvement
$200,400
Land market value
$10,600
Improvement market value
$400,800
Total market value
$411,400
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
1890
Heating
YES
Stories
2
Total area
6,440 SF
Lot
0.08 ac (3,528 SF)
Zoning code
G-1 BUS
APN
33-01-01-09-257-053
UPID
US43-4202578
Jurisdiction
INGHAM
Zoning & alternative use
G-1 BUS · Lansing, MI
Zoning 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
Lansing. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$560,000
AUTO REPAIR, GARAGE
Est. value
$550,000
MEDICAL BUILDING
Est. value
$550,000
OFFICE BUILDING
Est. value
$540,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$415,000
INDUSTRIAL (GENERAL)
Est. value
$405,000
RETAIL STORES
Est. value
$370,000
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
1890
Heating
YES
Stories
2
Lot
0.08 ac
Current owner
From public records · entity-resolved
Old Town Jamie LLC
Entity
Free & Clear · 9 yrs held
Mailing address
1216 TURNER STA, LANSING, MI 48906-4340
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 9, 2022
—
Odl Town Jamie LLC
—
Deed
related
$415,000 · The State Bank
Apr 18, 2017
—
Old Town Jamie LLC
Alan H Hooper
Quit Claim Deed
related
—
Mar 10, 2017
—
Old Town Jamie LLC
—
Deed
related
$490,000 · Lake Tr Cu
Jun 25, 2014
—
Old Town Jamie LLC
Busby Robert P Trust
Warranty Deed
related
$366,000 · Horizon Bk
—
—
Old Town Jamie LLC
—
Deed Of Trust
related
$490,000 · Lake Tr Cu
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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