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    Property profile & analytics

    219 East Grand River Avenue East Lansing, MI 48823

    • Retail space
    • 1,338 SF
    • 0.02 lot acres
    For Sale
    View listing
    $99,500
    Value Estimation
    Location Intelligence
    Property ID
    US43-1641350
    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

    • Capo's Cheesesteak Hoagies and Grill / Cheesesteak Restaurant

    Property Details for 219 East Grand River Avenue

    Year built
    1937
    Lot size
    0.02 lot acres
    Property size
    1,338 SF
    Zone code
    B3
    Property type
    Retail space
    APN
    33-20-02-18-163-013
    APU
    33200218163013

    Description

    This exceptional business opportunity presents the chance to acquire Capo's Cheesesteak Hoagies and Grill, a profitable, fully equipped restaurant located at 219 E Grand River Ave in East Lansing, Michigan. Situated directly across from Michigan State University, this prime location boasts high foot traffic, ensuring a steady stream of customers. The 1,338 square foot space, built in 1937 and renovated in 2021, operates under a modified lease within a single-unit building on a 0.02-acre lot. The restaurant features two entrances, enhancing accessibility and customer flow. The asking price is $99,500, translating to $74.36 per square foot. This is a turnkey operation, a private brand restaurant with no royalty fees, offering immediate income potential. The property is zoned for commercial use and is an owner/user investment opportunity. This is a rare chance to own a thriving business in a vibrant, high-demand location. The property's APN is 33-20-02-18-163-013.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $300,000

    • CAP approach

      CAP return
      Estimation
      6%
      $370,000
      6.5%
      $385,000
      7%
      $420,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $355,000
      Geo Method
      $440,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $420,000
      Retail
      $335,000
      Mixed-Use
      $330,000
      Hospitality
      $425,000
      Educational
      $420,000
      Residential Income
      $390,000
      Energy
      $350,000
      Income-Based Land
      $425,000
      Food Service
      $415,000

    Location Insight

    • Map
    • Local Demand
    City
    East Lansing
    County
    Ingham
    State
    Michigan
    Longitude
    -84.4818
    Latitude
    42.7349
    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
    2019
    $5,335
    $29,800
    $54,100
    $83,900
    -
    $59,600
    $108,200
    $167,800

    Comparable in this City

    • Value Estimation by Request
      18,390 SF

      401 Grand Riv Ave

      RETAIL STORES (PERSONAL SERVICES) • 18,390 SF
      401 Grand Riv Ave, East Lansing, MI 48823-4432
      View Details
    • Value Estimation by Request
      3,192 SF

      143 Harrison Rd, Unit 6

      RETAIL STORES (PERSONAL SERVICES) • 3,192 SF
      143 Harrison Rd, East Lansing, MI 48823-4153
      View Details
    • Value Estimation by Request
      21,873 SF

      201 Grand Riv Ave, Unit 1

      RETAIL STORES (PERSONAL SERVICES) • 21,873 SF
      201 Grand Riv Ave, East Lansing, MI 48823-4323
      View Details
    • Value Estimation by Request
      3,354 SF

      211 Mac Ave, Unit 13

      RETAIL STORES (PERSONAL SERVICES) • 3,354 SF
      211 Mac Ave, East Lansing, MI 48823-4328
      View Details
    • 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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    219 East Grand River Avenue
    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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