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Property profile & analytics
OFF-MARKET
Estimated value
$630,000
Assisted living facilities
16228 Park Lk Rd, East Lansing, MI 48823
Individually Owned
10-yr Hold
~
Est. High Equity
Property ID
US43-2446522
Property profile
Verified
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Year built
2020
Total area
12,900 SF
Lot
5 ac (217,800 SF)
Zoning code
MDR
APN
010-033-200-025-00
UPID
US43-2446522
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
$630k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$630k
Owner & transaction history
Ip Vista Springs Timber Ridge Propc · 10 yrs held
Ip Vista Springs Timber Ridge Propc
since 2016
3 recorded transactions
Zoning & alternative use
MDR · 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
$630,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$745,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$630k
Range $567k – $693k · ±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
$49 / 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
$45,800
Tax year 2020
Assessed value
$3,099,000
Assessed 2024
Previous assessed
$3,608,500
-14.1% YoY
Effective rate
1.48%
On assessed value
Assessed land
$136,100
Assessed improvement
$2,962,900
Land market value
$272,200
Improvement market value
$5,925,800
Total market value
$6,198,000
Applied tax rate
10.0000
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
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Status
Off-Market
Year built
2020
Heating
ZONE
Buildings
2
Stories
1
Total area
12,900 SF
Lot
5 ac (217,800 SF)
Zoning code
MDR
APN
010-033-200-025-00
UPID
US43-2446522
Jurisdiction
CLINTON
Zoning & alternative use
MDR · East Lansing, MI
Zoning MDR · permitted uses
MDR · 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
WAREHOUSE, STORAGE
Est. value
$745,000
WAREHOUSE, STORAGE
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
2020
Heating
ZONE
Stories
1
Buildings
2
Lot
5 ac
Current owner
From public records · entity-resolved
Ip Vista Springs Timber Ridge Propc
Individual
Mailing address
PO BOX 248, LOWELL, MI 49331-0248
Ownership since
2016
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
May 26, 2016
—
Ip Vista Springs Timber Ridge Propc
—
Deed
related
$3,000,000 · Ip Vista Springs LLC
May 20, 2016
$5,000,000
Ip Vista Springs Timber Ridge Propc
Park Lake LLC
Warranty Deed
$9,000,000 · Comerica Bank
Jan 9, 2007
$325,000
Park Lake LLC
T & D Developers LLC
Warranty Deed
$1,000,000 · T & D Developers LLC
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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