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Property profile & analytics
OFF-MARKET
Estimated value
$540,000
Automotive properties
1315 Waverly Rd Lansing, MI 48917-4250
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US43-1008530
Property profile
Verified
Property type
Automotive properties
Use group
VEHICLE SALES, RENTALS
Year built
1999
Total area
2,784 SF
Lot
3.11 ac (135,472 SF)
Zoning code
G GENER
APN
33-21-01-19-301-004
UPID
US43-1008530
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
-
RightWay Auto Sales Car Dealership
-
Robles' Garage LLC Auto Repair Shop
-
Cars On Demand LLC Car Dealership
-
WANTCAR LLC Car Dealership
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$545k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$397k
Blend (final)
Blend
$540k
Owner & transaction history
Abadi Royal Properties LLC · 2 yrs held
Abadi Royal Properties LLC
since 2023
Last sale
$550,000
3 recorded transactions
Zoning & alternative use
G GENER · Lansing, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$345,000
+45.3%
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
$520,000
ML approach
$545,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$345,000
Change: +45% · Conversion: Difficult
Blend value · Realmo final
$540k
Range $486k – $594k · ±10% · vs last sale $550k (Nov 17 2023)
Last sale anchor
$550k
Nov 17 2023
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
$194 / 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
$18,382
Tax year 2022
Assessed value
$275,100
Assessed 2023
Previous assessed
$275,100
+0.0% YoY
Effective rate
6.68%
On assessed value
Assessed land
$85,000
Assessed improvement
$190,100
Land market value
$170,000
Improvement market value
$380,200
Total market value
$550,200
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
Automotive properties
Use group
VEHICLE SALES, RENTALS
Status
Off-Market
Year built
1999
Heating
YES
Buildings
2
Stories
1
Total area
2,784 SF
Lot
3.11 ac (135,472 SF)
Zoning code
G GENER
APN
33-21-01-19-301-004
UPID
US43-1008530
Jurisdiction
INGHAM
Zoning & alternative use
G GENER · Lansing, MI
Zoning G GENER · permitted uses
G GENER · 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
Est. value
$345,000
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
1999
Heating
YES
Stories
1
Buildings
2
Lot
3.11 ac
Current owner
From public records · entity-resolved
Abadi Royal Properties LLC
Entity
Mailing address
27367 MIDWAY ST, DEARBORN HEIGHTS, MI 48127-2823
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 17, 2023
$550,000
Abadi Royal Properties LLC
Wantcar Holdings LLC
Warranty Deed
—
Jul 18, 2022
$535,000
Wantcar Holding LLC
Lisa M Green Ramont
Warranty Deed
—
Jul 26, 2021
—
Wantcar Holding LLC
Lisa M Green Ramont
Land Contract
—
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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