Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$10,820,000
Outlet malls
1350 Lk Lansing Rd East Lansing, MI 48823-1314
Entity Owned
17-yr Hold
Absentee Owner
Free & Clear
Property ID
US43-2097476
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
1983
Total area
208,944 SF
Lot
26.64 ac (1,160,438 SF)
Zoning code
B5
APN
33-20-01-01-100-051
UPID
US43-2097476
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
-
USPS Blue drop box Post Office
-
Meijer Bakery Bakery Specialty Food Shop
-
Shell Recharge Charging Station Electric Vehicle Charging Station
-
Katie Wenstrom Pharmacy
-
CVS Pharmacy Pharmacy
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$9.02M
Blend (final)
Blend
$10.82M
Owner & transaction history
Good Will Co INC · 17 yrs held
Good Will Co INC
since 2009
1 recorded transaction
Zoning & alternative use
B5 · East 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 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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$16,575,000
Current use
WAREHOUSE, STORAGE
$13,685,000
Change: -17% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$13,410,000
Change: -19% · Conversion: Moderate
Blend value · Realmo final
$10.82M
Range $9.74M – $11.90M · ±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
$52 / 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
$303,167
Tax year 2019
Assessed value
$5,264,900
Assessed 2023
Previous assessed
$5,038,400
+4.5% YoY
Effective rate
5.76%
On assessed value
Assessed land
$3,713,400
Assessed improvement
$1,551,500
Land market value
$7,426,800
Improvement market value
$3,103,000
Total market value
$10,529,800
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
1983
Heating
YES
Cooling
AC.PACKAGE
Stories
1
Total area
208,944 SF
Lot
26.64 ac (1,160,438 SF)
Zoning code
B5
APN
33-20-01-01-100-051
UPID
US43-2097476
Jurisdiction
INGHAM
Zoning & alternative use
B5 · East Lansing, MI
Zoning B5 · permitted uses
B5 · 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
RETAIL STORES Current
Est. value
$16.6M
WAREHOUSE, STORAGE
Est. value
$13.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$13.4M
RETAIL STORES Current
WAREHOUSE, STORAGE
NEIGHBORHOOD: SHOPPING CENTER
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
1983
Heating
YES
Cooling
Yes
Stories
1
Lot
26.64 ac
Current owner
From public records · entity-resolved
Good Will Co INC
Entity
Free & Clear · 17 yrs held
Mailing address
2929 WALKER AVE NW, GRAND RAPIDS, MI 49544-6402
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2009
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 9, 2009
—
Good Will Co INC
Thrifty Van Dyke INC
Quit Claim Deed
related
—
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 1350 Lk Lansing Rd?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
