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Property profile & analytics
OFF-MARKET
Estimated value
$4,255,000
Assisted living facilities
2001 Mt Hope Ave, Lansing, MI 48910-2496
Individually Owned
7-yr Hold
~
Est. High Equity
Property ID
US43-1474645
Property profile
Verified
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Year built
1997
Total area
80,910 SF
Lot
6.26 ac (272,555 SF)
Zoning code
DM-1 RE
APN
33-01-01-29-101-497
UPID
US43-1474645
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
-
Colonial Woods Senior Apartments Apartment Building
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.26M
Blend (final)
Blend
$4.26M
Owner & transaction history
Colonial Woods Ltd Dividend Hs · 7 yrs held
Colonial Woods Ltd Dividend Hs
since 2019
2 recorded transactions
Zoning & alternative use
DM-1 RE · Lansing, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$5.9M
+39.4%
Office building
$5.3M
+23.3%
Medical building
$4.8M
+12.2%
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 Lansing submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs 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
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING)
$4,255,000
Current use
RETAIL STORES
$5,935,000
Change: +39% · Conversion: Difficult
OFFICE BUILDING
$5,250,000
Change: +23% · Conversion: Difficult
MEDICAL BUILDING
$4,775,000
Change: +12% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$3,985,000
Change: -6% · Conversion: Difficult
Blend value · Realmo final
$4.26M
Range $3.83M – $4.68M · ±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
$53 / 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 2022Property tax & assessments
Tax year 2022
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
1997
Heating
HOT WATER
Stories
3
Total area
80,910 SF
Lot
6.26 ac (272,555 SF)
Zoning code
DM-1 RE
APN
33-01-01-29-101-497
UPID
US43-1474645
Jurisdiction
INGHAM
Zoning & alternative use
DM-1 RE · Lansing, MI
Zoning DM-1 RE · permitted uses
DM-1 RE · Lansing, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lansing. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING) Current
Est. value
$4.3M
RETAIL STORES
Est. value
$5.9M
OFFICE BUILDING
Est. value
$5.3M
MEDICAL BUILDING
Est. value
$4.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$4.0M
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING) Current
RETAIL STORES
OFFICE BUILDING
MEDICAL BUILDING
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
1997
Heating
HOT WATER
Stories
3
Lot
6.26 ac
Current owner
From public records · entity-resolved
Colonial Woods Ltd Dividend Hs
Individual
Mailing address
1575 WATERTOWER PL, EAST LANSING, MI 48823-6395
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 6, 2019
—
Colonial Woods Ltd Dividend Hs
—
Deed
related
$3,400,000 · Walker & Dunlop
—
—
Colonial Woods Ltd Dividend Hs
—
Deed Of Trust
related
$3,400,000 · Walker & Dunlop
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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