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Property profile & analytics
OFF-MARKET
Estimated value
$515,000
Commercial land
16647 Chandler Rd East Lansing, MI 48823-6111
Entity Owned
5-yr Hold
Free & Clear
Property ID
US43-2306384
Property profile
Verified
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Total area
4,050 SF
Lot
8.2 ac (357,192 SF)
Zoning code
OIP
APN
19-20-10-31-300-020
UPID
US43-2306384
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
$610k
CAP Approach
CAP
$440k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$515k
Owner & transaction history
Gunovid LLC · 5 yrs held
Gunovid LLC
since 2021
Last sale
$500,000
1 recorded transaction
Zoning & alternative use
OIP · East Lansing, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$410,000
+3.2%
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
$530,000
ML approach
$610,000
CAP Approach
CAP Return
Estimation
6%
$480,000
6.5%
$440,000
7%
$410,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$400,000
Current use
AUTO REPAIR, GARAGE
$410,000
Change: +3% · Conversion: Difficult
RETAIL STORES
$375,000
Change: -6% · Conversion: Easy
MEDICAL BUILDING
$360,000
Change: -10% · Conversion: Easy
OFFICE BUILDING
$340,000
Change: -15% · Conversion: Easy
Blend value · Realmo final
$515k
Range $464k – $567k · ±10% · vs last sale $500k (Mar 5 2021)
Last sale anchor
$500k
Mar 5 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
$127 / 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 2018Property tax & assessments
Tax year 2018
Tax billed
$6,651
Tax year 2018
Assessed value
$115,000
Assessed 2024
Previous assessed
$108,200
+6.3% YoY
Effective rate
5.78%
On assessed value
Assessed land
$115,000
Land market value
$230,000
Total market value
$230,000
Applied tax rate
19.0000
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
Commercial land
Use group
VACANT COMMERCIAL LAND
Status
Off-Market
Heating
SPACE
Stories
1
Total area
4,050 SF
Lot
8.2 ac (357,192 SF)
Zoning code
OIP
APN
19-20-10-31-300-020
UPID
US43-2306384
Jurisdiction
CLINTON
Zoning & alternative use
OIP · East Lansing, MI
Zoning OIP · permitted uses
OIP · 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
COMMERCIAL (GENERAL) Current
Est. value
$400,000
AUTO REPAIR, GARAGE
Est. value
$410,000
RETAIL STORES
Est. value
$375,000
MEDICAL BUILDING
Est. value
$360,000
OFFICE BUILDING
Est. value
$340,000
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
RETAIL STORES
MEDICAL BUILDING
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
Heating
SPACE
Stories
1
Lot
8.2 ac
Current owner
From public records · entity-resolved
Gunovid LLC
Entity
Free & Clear · 5 yrs held
Mailing address
4055 HUNSAKER DR, EAST LANSING, MI 48823-6100
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 5, 2021
$500,000
Gunovid LLC
Spartan Technology Development LLC
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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