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Property profile & analytics
OFF-MARKET
Estimated value
$925,000
Medical Office Space
1650 Ramblewood Dr Ste 100 East Lansing, MI 48823-7396
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US43-1143803
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1998
Total area
7,466 SF
Zoning code
B4
APN
33-20-01-02-476-201
UPID
US43-1143803
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
$970k
Comparable Approach
Comparable
$1.05M
Blend (final)
Blend
$925k
Owner & transaction history
Walz Kraft Lansing LLC · 1 yrs held
Walz Kraft Lansing LLC
since 2024
4 recorded transactions
Zoning & alternative use
B4 · 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%
$1,050,000
6.5%
$970,000
7%
$900,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$920,000
Current use
RESTAURANT
$870,000
Change: -5% · Conversion: Difficult
COMMERCIAL (GENERAL)
$855,000
Change: -7% · Conversion: Easy
AUTO REPAIR, GARAGE
$750,000
Change: -18% · Conversion: Difficult
OFFICE BUILDING
$740,000
Change: -20% · Conversion: Easy
Blend value · Realmo final
$925k
Range $833k – $1.02M · ±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
$124 / 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
$33,448
Tax year 2019
Assessed value
$502,000
Assessed 2023
Previous assessed
$480,300
+4.5% YoY
Effective rate
6.66%
On assessed value
Assessed improvement
$502,000
Improvement market value
$1,004,000
Total market value
$1,004,000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1998
Heating
YES
Cooling
AC.PACKAGE
Stories
2
Total area
7,466 SF
Zoning code
B4
APN
33-20-01-02-476-201
UPID
US43-1143803
Jurisdiction
INGHAM
Zoning & alternative use
B4 · East Lansing, MI
Zoning B4 · permitted uses
B4 · 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
MEDICAL BUILDING Current
Est. value
$920,000
RESTAURANT
Est. value
$870,000
COMMERCIAL (GENERAL)
Est. value
$855,000
AUTO REPAIR, GARAGE
Est. value
$750,000
OFFICE BUILDING
Est. value
$740,000
MEDICAL BUILDING Current
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
1998
Heating
YES
Cooling
Yes
Stories
2
Current owner
From public records · entity-resolved
Walz Kraft Lansing LLC
Entity
Mailing address
1650 RAMBLEWOOD DR STE #100, EAST LANSING, MI 48823-7396
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
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 11, 2024
—
Walz Kraft Lansing LLC
Mgi Investments LLC
Deed
$2,175,000 · Bank Of America NA
Dec 1, 2017
—
Mgi Investments LLC
—
Deed
related
$660,000 · The Dart Bank
—
—
Mgi Investments LLC
—
Deed Of Trust
related
$1,369,992 · Fifth Third Bank
—
—
Mgi Investments LLC
—
Deed Of Trust
related
$970,330 · Fifth Third Bank
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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