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Property profile & analytics
OFF-MARKET
Estimated value
$965,000
Turn key restaurants
125 Washtenaw St, Lansing, MI 48933-2121
Entity Owned
1-yr Hold
Free & Clear
Property ID
US43-0103798
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1917
Total area
15,326 SF
Lot
0.18 ac (7,754 SF)
Zoning code
G-1 BUS
APN
33-01-01-16-331-002
UPID
US43-0103798
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
$988k
Blend (final)
Blend
$965k
Owner & transaction history
New Vision Lansing LLC · 1 yrs held
New Vision Lansing LLC
since 2025
6 recorded transactions
Zoning & alternative use
G-1 BUS · Lansing, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$1,335,000
Current use
AUTO REPAIR, GARAGE
$1,310,000
Change: -2% · Conversion: Difficult
MEDICAL BUILDING
$1,305,000
Change: -3% · Conversion: Difficult
OFFICE BUILDING
$1,265,000
Change: -5% · Conversion: Moderate
RETAIL STORES
$1,095,000
Change: -18% · Conversion: Easy
Blend value · Realmo final
$965k
Range $869k – $1.06M · ±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
$63 / 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
$40,736
Tax year 2020
Assessed value
$540,100
Assessed 2023
Previous assessed
$625,800
-13.7% YoY
Effective rate
7.54%
On assessed value
Assessed land
$38,700
Assessed improvement
$501,400
Land market value
$77,400
Improvement market value
$1,002,800
Total market value
$1,080,200
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1917
Heating
YES
Stories
2
Total area
15,326 SF
Lot
0.18 ac (7,754 SF)
Zoning code
G-1 BUS
APN
33-01-01-16-331-002
UPID
US43-0103798
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 Current
Est. value
$1.3M
AUTO REPAIR, GARAGE
Est. value
$1.3M
MEDICAL BUILDING
Est. value
$1.3M
OFFICE BUILDING
Est. value
$1.3M
RETAIL STORES
Est. value
$1.1M
RESTAURANT Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
OFFICE BUILDING
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
1917
Heating
YES
Stories
2
Lot
0.18 ac
Current owner
From public records · entity-resolved
New Vision Lansing LLC
Entity
Free & Clear · 1 yrs held
Mailing address
300 S WASHINGTON SQ STE #400, LANSING, MI 48933-2102
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 26, 2025
—
New Vision Lansing LLC
Nine Plus LLC
Warranty Deed
—
Aug 3, 2021
$318,000
Nine Plus LLC
127 E Washtenaw LLC
Warranty Deed
—
Apr 18, 2018
—
George F Eyde Family LLC
Thomas M Cooley Law School
Grant Deed
—
Aug 22, 2008
—
Thomas M Cooley Law School
Accident Fund Ins Co Of America
Warranty Deed
—
Feb 7, 2006
—
Douglas J Petroff
Petroff,shellie A
Quit Claim Deed
—
Feb 7, 2006
$1,350,000
Accident Fund Ins Co Of America
3p LLC
Warranty Deed
—
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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