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Property profile & analytics
OFF-MARKET
Estimated value
$815,000
Office buildings
2205 Abbot Rd, East Lansing, MI 48823-1468
Entity Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-1219053
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1988
Total area
6,930 SF
Lot
0.65 ac (28,314 SF)
Zoning code
B1
APN
33-20-01-01-408-007
UPID
US43-1219053
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
-
Hacker-King-Sherry Agency Insurance Agency
-
Abbott Insurance & Finance Center Insurance Agency
-
Vernon Ebersole Agency Insurance Agency
-
Insurance Office: Fisher Dennis Insurance Agency
-
Oleson Financial Group LLC - Raymond James Financial Advisor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$960k
Comparable Approach
Comparable
$804k
Blend (final)
Blend
$815k
Owner & transaction history
Ascend Property Holdings LLC · 2 yrs held
Ascend Property Holdings LLC
since 2023
4 recorded transactions
Zoning & alternative use
B1 · East Lansing, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$855,000
+24.5%
Restaurant
$810,000
+17.8%
Commercial (general)
$790,000
+15.4%
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 East Lansing submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs East 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
by Request
CAP Approach
CAP Return
Estimation
6%
$1,040,000
6.5%
$960,000
7%
$890,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$685,000
Current use
MEDICAL BUILDING
$855,000
Change: +24% · Conversion: Easy
RESTAURANT
$810,000
Change: +18% · Conversion: Moderate
COMMERCIAL (GENERAL)
$790,000
Change: +15% · Conversion: Easy
AUTO REPAIR, GARAGE
$695,000
Change: +2% · Conversion: Difficult
RETAIL STORES
$550,000
Change: -20% · Conversion: Moderate
Blend value · Realmo final
$815k
Range $734k – $897k · ±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
$118 / 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 2019Property tax & assessments
Tax year 2019
Tax billed
$22,937
Tax year 2019
Assessed value
$344,000
Assessed 2023
Previous assessed
$344,000
+0.0% YoY
Effective rate
6.67%
On assessed value
Assessed land
$113,300
Assessed improvement
$230,700
Land market value
$226,600
Improvement market value
$461,400
Total market value
$688,000
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
1988
Heating
YES
Cooling
AC.PACKAGE
Stories
1
Total area
6,930 SF
Lot
0.65 ac (28,314 SF)
Zoning code
B1
APN
33-20-01-01-408-007
UPID
US43-1219053
Jurisdiction
INGHAM
Zoning & alternative use
B1 · East Lansing, MI
Zoning B1 · permitted uses
B1 · East Lansing, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
East Lansing. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$685,000
MEDICAL BUILDING
Est. value
$855,000
RESTAURANT
Est. value
$810,000
COMMERCIAL (GENERAL)
Est. value
$790,000
AUTO REPAIR, GARAGE
Est. value
$695,000
RETAIL STORES
Est. value
$550,000
OFFICE BUILDING Current
MEDICAL BUILDING
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
1988
Heating
YES
Cooling
Yes
Stories
1
Lot
0.65 ac
Current owner
From public records · entity-resolved
Ascend Property Holdings LLC
Entity
Mailing address
8303 ARBORETUM LN, LANSING, MI 48917-7703
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 10, 2023
—
Ascend Property Holdings LLC
Mary J Oleson Trust
Land Contract
—
Jul 1, 2016
—
Mary J Oleson
—
Deed
related
$192,277 · Commercial Bank
Aug 10, 2004
—
Carl Oleson III
Shod Partnership
Quit Claim Deed
related
—
—
—
Oleson Mary J Trust
—
Deed Of Trust
related
$253,126 · Pnc Bank
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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