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Property profile & analytics
OFF-MARKET
Retail space
223 Mac Ave 14, East Lansing, MI 48823-4328
Individually Owned
8-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-1610566
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1954
Total area
2,178 SF
Lot
0.06 ac (2,744 SF)
Zoning code
B3
APN
33-20-02-18-162-004
UPID
US43-1610566
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Aristea Bell · 8 yrs held
Aristea Bell
since 2018
4 recorded transactions
Zoning & alternative use
B3 · East 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 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$7,241
Tax year 2019
Assessed value
$108,800
Assessed 2023
Previous assessed
$104,000
+4.6% YoY
Effective rate
6.66%
On assessed value
Assessed land
$82,800
Assessed improvement
$26,000
Land market value
$165,600
Improvement market value
$52,000
Total market value
$217,600
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1954
Heating
YES
Cooling
AC.PACKAGE
Stories
1
Total area
2,178 SF
Lot
0.06 ac (2,744 SF)
Zoning code
B3
APN
33-20-02-18-162-004
UPID
US43-1610566
Jurisdiction
INGHAM
Zoning & alternative use
B3 · East Lansing, MI
Zoning B3 · permitted uses
B3 · 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.
Building & site characteristics
From public records
Year built
1954
Heating
YES
Cooling
Yes
Stories
1
Lot
0.06 ac
Current owner
From public records · entity-resolved
Aristea Bell
Individual
Mailing address
1511 DENNISON RD, EAST LANSING, MI 48823-2193
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2018
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
Apr 16, 2018
—
Aristea Bell
—
Trustees Deed
related
$135,000 · Case Cu
—
—
Aristea Bell
—
Deed Of Trust
related
$135,000 · Case Cu
—
—
Aristea Bell
—
Deed Of Trust
related
$160,000 · Case Cu
—
—
Christos B Bell
—
Deed Of Trust
related
$86,783 · First National Bank America
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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