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    Property profile & analytics

    2040 Merritt Rd East Lansing, MI 48823

    • Retail space
    • 3,520 SF
    • 0.78 lot acres
    For Lease
    View listing
    Value Estimation
    $370,000
    Location Intelligence
    Property ID
    US43-1593664
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • High Society Cannabis Supercenter East Lansing / Vitamin & Supplements Store / Vaporizer Store

    Property Details for 2040 Merritt Rd

    Year built
    2022
    Lot size
    0.78 lot acres
    Property size
    3,520 SF
    Property type
    Retail space
    APN
    33-20-02-08-200-008
    APU
    33200208200008

    Description

    This exceptional 2.97-acre commercial land parcel presents a unique investment opportunity in the thriving East Lansing, Michigan market. Located at 2040 Merritt Rd, zip code 48823, this property boasts a highly visible location with significant traffic flow, ideal for maximizing exposure and attracting customers. The site is zoned B-2, offering considerable flexibility for a range of commercial developments. This single-tenancy land is situated in Ingham County and presents a blank canvas for a retail-pad investor seeking a strategic location to establish a strong presence within a dynamic community. The well-maintained property provides an excellent foundation for a new development, capitalizing on the area's robust market and high demand for commercial space. The property's location in East Lansing offers easy access to major transportation routes and a dense population base, ensuring high visibility and accessibility for any future business. This is an exceptional chance to acquire a prime commercial land parcel in a desirable location with significant growth potential. The 2.97 acres provide ample space for a variety of development options, making this an attractive investment for discerning buyers.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $350,000

    • CAP approach

      CAP return
      Estimation
      6%
      $425,000
      6.5%
      $445,000
      7%
      $395,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $350,000
      Geo Method
      $455,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $390,000
      Retail
      $335,000
      Mixed-Use
      $340,000
      Hospitality
      $355,000
      Educational
      $430,000
      Residential Income
      $445,000
      Energy
      $325,000
      Income-Based Land
      $400,000
      Food Service
      $415,000

    Location Insight

    • Map
    • Local Demand
    City
    East Lansing
    County
    Ingham
    State
    Michigan
    Longitude
    -84.4482
    Latitude
    42.7494
    CBSA code
    29620
    CBSA name
    LANSING-EAST LANSING, MI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $15,018
    $102,900
    $117,100
    $220,000
    -
    $205,800
    $234,200
    $440,000

    Comparable in this City

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      201 Grand Riv Ave, Unit 1

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      201 Grand Riv Ave, East Lansing, MI 48823-4323
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      3,354 SF

      211 Mac Ave, Unit 13

      RETAIL STORES (PERSONAL SERVICES) • 3,354 SF
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    • Value Estimation
      $860,000
      26,714 SF

      2655 Grand Riv Ave

      RETAIL STORES (PERSONAL SERVICES) • 26,714 SF
      2655 Grand Riv Ave, East Lansing, MI 48823-5617
      View Details
    • Value Estimation
      $540,000
      6,101 SF

      2649 Grand Riv Ave

      RETAIL STORES (PERSONAL SERVICES) • 6,101 SF
      2649 Grand Riv Ave, East Lansing, MI 48823-5607
      View Details

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    2040 Merritt Rd
    East Lansing, MI 48823
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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