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Property profile & analytics
OFF-MARKET
Estimated value
$870,000
Turn key restaurants
2201 Showtime Dr, Lansing, MI 48912-5606
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US43-3334294
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
2015
Total area
7,579 SF
Lot
83.53 ac (3,638,567 SF)
Zoning code
PD
APN
33-21-01-02-100-048
UPID
US43-3334294
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
-
Hotel lanzing Hotel & Motel
-
Homewood Suites by Hilton Lansing Eastwood Hotel & Motel Vacation Rental
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$605k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$896k
Blend (final)
Blend
$870k
Owner & transaction history
Store Master Funding Xi LLC · 1 yrs held
Store Master Funding Xi LLC
since 2024
7 recorded transactions
Zoning & alternative use
PD · 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
by Request
ML approach
$605,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$660,000
Current use
AUTO REPAIR, GARAGE
$645,000
Change: -2% · Conversion: Difficult
MEDICAL BUILDING
$645,000
Change: -3% · Conversion: Difficult
OFFICE BUILDING
$625,000
Change: -5% · Conversion: Moderate
RETAIL STORES
$540,000
Change: -18% · Conversion: Easy
Blend value · Realmo final
$870k
Range $783k – $957k · ±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
$115 / 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
$1,003,690
Tax year 2022
Assessed value
$16,436,800
Assessed 2023
Previous assessed
$15,778,400
+4.2% YoY
Effective rate
6.11%
On assessed value
Assessed land
$11,693,600
Assessed improvement
$4,743,200
Land market value
$23,387,200
Improvement market value
$9,486,400
Total market value
$32,873,600
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
2015
Heating
YES
Buildings
2
Stories
1
Total area
7,579 SF
Lot
83.53 ac (3,638,567 SF)
Zoning code
PD
APN
33-21-01-02-100-048
UPID
US43-3334294
Jurisdiction
INGHAM
Zoning & alternative use
PD · Lansing, MI
Zoning PD · permitted uses
PD · 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
RESTAURANT Current
Est. value
$660,000
AUTO REPAIR, GARAGE
Est. value
$645,000
MEDICAL BUILDING
Est. value
$645,000
OFFICE BUILDING
Est. value
$625,000
RETAIL STORES
Est. value
$540,000
RESTAURANT Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
OFFICE BUILDING
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
2015
Heating
YES
Stories
1
Buildings
2
Lot
83.53 ac
Current owner
From public records · entity-resolved
Store Master Funding Xi LLC
Entity
Mailing address
1120 N TOWN CTR DR STE #150, LAS VEGAS, NV 89144-6303
Ownership since
2024
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
Oct 22, 2024
—
Eastwood Property LLC
—
Deed
related
$2,225,000 · Horizon Bank
Jul 12, 2024
—
Store Master Funding Xi LLC
Coopers Hawk Lansing LLC
Deed
$8,585,000 · Citibank NA
Jul 11, 2023
—
Ff Of Lansing LLC
—
Deed
related
$9,000,000 · State Bank Of Texas
Jun 28, 2023
—
Cft Nv Developments LLC
Eastwood LLC
Deed
—
Jun 26, 2023
—
Eastwood Property LLC
Preyde II LLC
Deed
—
Apr 3, 2023
—
Consumers Credit Union
Eastwood LLC
Warranty Deed
—
Jul 28, 2022
—
Developer Eastwood LLC
Eastwood LLC
Intrafamily Transfer
related
—
Dec 21, 2017
—
Preyde II LLC
Eastwood LLC
Warranty Deed
related
$14,000,000 · Chemical Bk
Dec 12, 2017
—
Eastwood II LLC
Eastwood LLC
Quit Claim Deed
related
—
Mar 9, 2017
—
Eastwood II LLC
Eastwood Holdings LLC
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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