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Property profile & analytics
OFF-MARKET
Estimated value
$1,880,000
Office buildings
217 Grand Ave, Lansing, MI 48933-1828
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US43-4854855
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1915
Total area
11,499 SF
Lot
0.15 ac (6,490 SF)
Zoning code
G-1 BUS
APN
33-01-01-16-402-041
UPID
US43-4854855
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
-
Kumar Akash MD Physician
-
Gauderer Ernst C MD Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.93M
CAP Approach
CAP
$1.82M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.88M
Owner & transaction history
New Vision Lansing LLC · 1 yrs held
New Vision Lansing LLC
since 2025
5 recorded transactions
Zoning & alternative use
G-1 BUS · 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 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
$1,880,000
ML approach
$1,930,000
CAP Approach
CAP Return
Estimation
6%
$1,970,000
6.5%
$1,820,000
7%
$1,690,000
Blend value · Realmo final
$1.88M
Range $1.69M – $2.07M · ±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
$163 / 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 2020Property tax & assessments
Tax year 2020
Tax billed
$26,394
Tax year 2020
Assessed value
$498,000
Assessed 2023
Previous assessed
$510,500
-2.4% YoY
Effective rate
5.30%
On assessed value
Assessed land
$32,600
Assessed improvement
$465,400
Land market value
$65,200
Improvement market value
$930,800
Total market value
$996,000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1915
Heating
YES
Stories
3
Total area
11,499 SF
Lot
0.15 ac (6,490 SF)
Zoning code
G-1 BUS
APN
33-01-01-16-402-041
UPID
US43-4854855
Jurisdiction
INGHAM
Zoning & alternative use
G-1 BUS · Lansing, MI
Zoning G-1 BUS · permitted uses
G-1 BUS · 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.
Building & site characteristics
From public records
Year built
1915
Heating
YES
Stories
3
Lot
0.15 ac
Current owner
From public records · entity-resolved
New Vision Lansing LLC
Entity
Mailing address
43252 WOODWARD AVE STE #210, BLOOMFIELD HILLS, MI 48302-5047
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 4, 2025
—
New Vision Lansing LLC
Nine Plus LLC
Warranty Deed
—
Apr 11, 2023
$2,000,000
Nine Plus LLC
Grand River Tower LLC
Warranty Deed
—
Jan 4, 2011
—
Grand River Tower LLC
—
Deed Of Trust
related
$3,650,000 · Capitol National Bank
Feb 8, 2008
$850,000
Grand River Tower LLC
Goodrich & Associates
Warranty Deed
$2,000,000 · Huntington National Bank
—
—
Grand Avenue Parking LLC
—
Deed Of Trust
related
$3,535,300 · Lake Trust Cu
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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