Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$3,650,000
Retail residential properties
2006 Michigan Ave Lansing, MI 48912
Entity Owned
11-yr Hold
~
Est. High Equity
Property ID
US43-5053815
Property profile
Verified
Property type
Retail residential properties
Use group
STORES & APARTMENTS
Year built
2017
Total area
47,600 SF
Lot
1.37 ac (59,677 SF)
Zoning code
F-1 COM
APN
33-01-01-14-302-002
UPID
US43-5053815
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
-
Selected Insurance Lansing Insurance Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.30M
Blend (final)
Blend
$3.65M
Owner & transaction history
2000 Block LLC · 11 yrs held
2000 Block LLC
since 2015
7 recorded transactions
Zoning & alternative use
F-1 COM · Lansing, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$4.2M
+80.4%
Auto repair, garage
$4.1M
+76.4%
Medical building
$4.0M
+75.8%
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
COMMERCIAL (GENERAL)
$2,300,000
Current use
RESTAURANT
$4,155,000
Change: +80% · Conversion: Difficult
AUTO REPAIR, GARAGE
$4,060,000
Change: +76% · Conversion: Difficult
MEDICAL BUILDING
$4,045,000
Change: +76% · Conversion: Easy
OFFICE BUILDING
$3,925,000
Change: +71% · Conversion: Easy
RETAIL STORES
$3,400,000
Change: +48% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$3,055,000
Change: +33% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$2,985,000
Change: +30% · Conversion: Moderate
Blend value · Realmo final
$3.65M
Range $3.29M – $4.02M · ±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
$77 / 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
Tax billed
$153,808
Tax year 2022
Assessed value
$2,048,500
Assessed 2023
Previous assessed
$1,939,100
+5.6% YoY
Effective rate
7.51%
On assessed value
Assessed land
$205,900
Assessed improvement
$1,842,600
Land market value
$411,800
Improvement market value
$3,685,200
Total market value
$4,097,000
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
Retail residential properties
Use group
STORES & APARTMENTS
Status
Off-Market
Year built
2017
Heating
YES
Buildings
2
Stories
4
Total area
47,600 SF
Lot
1.37 ac (59,677 SF)
Zoning code
F-1 COM
APN
33-01-01-14-302-002
UPID
US43-5053815
Jurisdiction
INGHAM
Zoning & alternative use
F-1 COM · Lansing, MI
Zoning F-1 COM · permitted uses
F-1 COM · 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
COMMERCIAL (GENERAL) Current
Est. value
$2.3M
RESTAURANT
Est. value
$4.2M
AUTO REPAIR, GARAGE
Est. value
$4.1M
MEDICAL BUILDING
Est. value
$4.0M
OFFICE BUILDING
Est. value
$3.9M
RETAIL STORES
Est. value
$3.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$3.1M
INDUSTRIAL (GENERAL)
Est. value
$3.0M
COMMERCIAL (GENERAL) Current
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
OFFICE BUILDING
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
INDUSTRIAL (GENERAL)
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
2017
Heating
YES
Stories
4
Buildings
2
Lot
1.37 ac
Current owner
From public records · entity-resolved
2000 Block LLC
Entity
Mailing address
329 S WASHINGTON SQ #1, LANSING, MI 48933-2114
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 18, 2017
—
2000 Block LLC
—
Loan Modification
related
$5,900,000 · Dart Bk
Sep 19, 2016
—
2000 Block LLC
—
Deed
related
$5,500,000 · Dart Bk
Feb 5, 2015
$240,000
2000 Block LLC
El Investment Properties LLC
Warranty Deed
$325,000 · Access Bidco LLC
Mar 22, 2013
$56,250
El Investment Properties LLC
Patrick E Lindemann
Warranty Deed
—
Mar 5, 2012
—
Lindemann,patrick E
Steven Shuey
Quit Claim Deed
related
—
Feb 19, 2010
—
Patrick E Lindemann
Lindemann,mary M
Quit Claim Deed
related
—
Jul 28, 2008
—
Lori J Tsaparas
Lindemann,daniel A
Quit Claim Deed
related
—
Sep 19, 2007
$3,053
Patrick E Lindeman
Treasurer Of Ingham County
Grant Deed
—
—
—
Patrick E Lindemann
—
Deed Of Trust
related
$80,000 · Dart Bank
—
—
2000 Block LLC
—
Loan Modification
related
$5,500,000 · Dart Bk
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 2006 Michigan Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
