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Property profile & analytics
FOR SALE
Office buildings
139 W Lake Lansing Rd, East Lansing, MI 48823
Entity Owned
4-yr Hold
Free & Clear
Property ID
US43-1632524
For Sale
1 / 18
$1,375,000
139 W Lake Lansing Rd, East Lansing, MI 48823
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1988
Total area
16,779 SF
Lot
1.56 ac (67,736 SF)
Zoning code
B1
APN
33-20-01-01-408-017
UPID
US43-1632524
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
-
Contemporary Dentistry - East Lansing Dental Office
-
Foster and Harmon P.C. Law Firm
-
Aflac Regional Office Financial Advisor Insurance Agency
-
Molenaar & Associates, Inc Real Estate Agency
-
Physician Billing Services Medical Billing Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.45M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.65M
Blend (final)
Blend
$1.38M
Owner & transaction history
Bazzi Realty LLC · 4 yrs held
Bazzi Realty LLC
since 2021
Last sale
$1.1M
4 recorded transactions
Zoning & alternative use
B1 · East Lansing, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$2.1M
+24.5%
Restaurant
$2.0M
+17.8%
Commercial (general)
$1.9M
+15.4%
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
$1,470,000
ML approach
$1,450,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,660,000
Current use
MEDICAL BUILDING
$2,070,000
Change: +24% · Conversion: Easy
RESTAURANT
$1,955,000
Change: +18% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,915,000
Change: +15% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,690,000
Change: +2% · Conversion: Difficult
RETAIL STORES
$1,330,000
Change: -20% · Conversion: Moderate
Blend value · Realmo final
$1.38M
Range $1.24M – $1.51M · ±10% · vs last sale $1.13M (Sep 8 2021)
Last sale anchor
$1.13M
Sep 8 2021
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
$82 / 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
$48,756
Tax year 2019
Assessed value
$707,900
Assessed 2023
Previous assessed
$678,300
+4.4% YoY
Effective rate
6.89%
On assessed value
Assessed land
$270,900
Assessed improvement
$437,000
Land market value
$541,800
Improvement market value
$874,000
Total market value
$1,415,800
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
Office buildings
Use group
OFFICE BUILDING
Status
For Sale
Year built
1988
Heating
YES
Cooling
AC.PACKAGE
Stories
1
Total area
16,779 SF
Lot
1.56 ac (67,736 SF)
Zoning code
B1
APN
33-20-01-01-408-017
UPID
US43-1632524
Jurisdiction
INGHAM
Zoning & alternative use
B1 · East Lansing, MI
Zoning B1 · permitted uses
B1 · 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
OFFICE BUILDING Current
Est. value
$1.7M
MEDICAL BUILDING
Est. value
$2.1M
RESTAURANT
Est. value
$2.0M
COMMERCIAL (GENERAL)
Est. value
$1.9M
AUTO REPAIR, GARAGE
Est. value
$1.7M
RETAIL STORES
Est. value
$1.3M
OFFICE BUILDING Current
MEDICAL BUILDING
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
1988
Heating
YES
Cooling
Yes
Stories
1
Lot
1.56 ac
Current owner
From public records · entity-resolved
Bazzi Realty LLC
Entity
Free & Clear · 4 yrs held
Mailing address
47118 N POINTE DR, CANTON, MI 48187-1443
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 27, 2021
—
Bazzi Realty LLC
—
Deed
related
$1,019,700 · Jpmorgan Chase Bank NA
Sep 8, 2021
$1,133,000
Bazzi Realty LLC
139 W Lake Lansing Road LLC
Warranty Deed
—
Jan 7, 2013
—
139 W Lake Lansing Road L L C
Tmn Builders INC
Quit Claim Deed
related
$1,016,000 · Michigan State University FCU
May 8, 2012
$752,400
Tmn Builders INC
Michigan Equities U Portfolio
Grant 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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