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Property profile & analytics
OFF-MARKET
Estimated value
$870,000
Office buildings
220 Kalamazoo St, Lansing, MI 48933-2110
Individually Owned
1-yr Hold
~
Est. High Equity
Property ID
US43-1640813
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1954
Total area
19,642 SF
Lot
1.6 ac (69,696 SF)
APN
33-01-01-16-452-013
UPID
US43-1640813
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
-
Boji Group - Grand Avenue Investments Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$885k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$832k
Blend (final)
Blend
$870k
Owner & transaction history
220 Kalamazoo Limited Dividend Hous · 1 yrs held
220 Kalamazoo Limited Dividend Hous
since 2025
Last sale
$905,000
5 recorded transactions
Zoning & alternative use
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
$820,000
ML approach
$885,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$1,405,000
Change: -13% · Conversion: Moderate
Blend value · Realmo final
$870k
Range $783k – $957k · ±10% · vs last sale $905k (Feb 6 2025)
Last sale anchor
$905k
Feb 6 2025
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
$44 / 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
$54,320
Tax year 2020
Assessed value
$768,000
Assessed 2023
Previous assessed
$768,000
+0.0% YoY
Effective rate
7.07%
On assessed value
Assessed land
$338,000
Assessed improvement
$430,000
Land market value
$676,000
Improvement market value
$860,000
Total market value
$1,536,000
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
1954
Heating
YES
Stories
2
Total area
19,642 SF
Lot
1.6 ac (69,696 SF)
APN
33-01-01-16-452-013
UPID
US43-1640813
Jurisdiction
INGHAM
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES
Est. value
$1.4M
RETAIL STORES
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
1954
Heating
YES
Stories
2
Lot
1.6 ac
Current owner
From public records · entity-resolved
220 Kalamazoo Limited Dividend Hous
Individual
Mailing address
1118 S WASHINGTON AVE, LANSING, MI 48910-1659
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 10, 2025
—
2020 Kalamazoo Ltd Dividend Hsng As
—
Deed
related
$14,000,000 · 220 Kalamazoo Ltd Dividend Hsng Assn LP
Feb 6, 2025
$905,000
220 Kalamazoo Limited Dividend Hous
Preservation Nonprofit Housing Corp
Warranty Deed
$4,000,000 · Lansing Housing Commission
Jun 4, 2024
$905,000
Preservation Nonprofit Housing Corp
Grand Avenue Investments LLC
Warranty Deed
—
Apr 3, 2019
$850,000
Grand Avenue Investments LLC
Davenport University
Warranty Deed
$520,000 · Comerica Bank
Feb 10, 2014
—
Grand Avenue Investments LLC
Davenport University
Quit Claim Deed
related
—
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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