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Property profile & analytics
OFF-MARKET
Estimated value
$645,000
Turn key restaurants
1227 Grand Riv Ave East Lansing, MI 48823-4912
Entity Owned
9-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-5162328
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1973
Total area
5,142 SF
Lot
0.46 ac (20,081 SF)
Zoning code
B2
APN
33-20-02-18-414-025
UPID
US43-5162328
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
$415k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$654k
Blend (final)
Blend
$645k
Owner & transaction history
E River Grand LLC · 9 yrs held
E River Grand LLC
since 2017
5 recorded transactions
Zoning & alternative use
B2 · East Lansing, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$635,000
+5.7%
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 East Lansing submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs East 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
$415,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$600,000
Current use
MEDICAL BUILDING
$635,000
Change: +6% · Conversion: Difficult
COMMERCIAL (GENERAL)
$585,000
Change: -2% · Conversion: Easy
AUTO REPAIR, GARAGE
$515,000
Change: -14% · Conversion: Difficult
OFFICE BUILDING
$510,000
Change: -15% · Conversion: Moderate
Blend value · Realmo final
$645k
Range $581k – $710k · ±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
$125 / 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 2019Property tax & assessments
Tax year 2019
Tax billed
$25,830
Tax year 2019
Assessed value
$378,400
Assessed 2023
Previous assessed
$362,100
+4.5% YoY
Effective rate
6.83%
On assessed value
Assessed land
$80,300
Assessed improvement
$298,100
Land market value
$160,600
Improvement market value
$596,200
Total market value
$756,800
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1973
Heating
YES
Cooling
CENTRAL
Stories
1
Total area
5,142 SF
Lot
0.46 ac (20,081 SF)
Zoning code
B2
APN
33-20-02-18-414-025
UPID
US43-5162328
Jurisdiction
INGHAM
Zoning & alternative use
B2 · East Lansing, MI
Zoning B2 · permitted uses
B2 · East Lansing, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
East Lansing. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT Current
Est. value
$600,000
MEDICAL BUILDING
Est. value
$635,000
COMMERCIAL (GENERAL)
Est. value
$585,000
AUTO REPAIR, GARAGE
Est. value
$515,000
OFFICE BUILDING
Est. value
$510,000
RESTAURANT Current
MEDICAL BUILDING
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
OFFICE 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
1973
Heating
YES
Cooling
Yes
Stories
1
Lot
0.46 ac
Current owner
From public records · entity-resolved
E River Grand LLC
Entity
Mailing address
2420 E GRAND RIV RD, WILLIAMSTON, MI 48895-9501
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
May 9, 2017
—
E River Grand LLC
1227 E Grand River LLC
Quit Claim Deed
related
$347,500 · The Huntington National Bank
Apr 15, 2008
—
1227 East Grand River LLC
Vlahakis,john J & Sandra
Quit Claim Deed
related
$799,000 · Fifth Third Bank
Jun 20, 2007
$900,000
John J Vlahakis
Columbos LLC Of East Lansing LLC
Warranty Deed
—
—
—
John J Vlahakis
—
Deed Of Trust
related
$300,000 · Capital Community Cu
—
—
1227 E Grand River LLC
—
Deed Of Trust
related
$619,000 · Michigan Certified Development
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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