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Property profile & analytics
OFF-MARKET
Estimated value
$530,000
Specialty properties
233 Waverly Rd, Lansing, MI 48917-3611
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US43-3212782
Property profile
Verified
Property type
Specialty properties
Use group
VETERINARY, ANIMAL HOSPITAL
Year built
1962
Total area
4,853 SF
Lot
1.24 ac (54,014 SF)
Zoning code
F COMME
APN
33-21-01-18-301-047
UPID
US43-3212782
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
-
Thrush C S DVM Veterinary Clinic
-
Waverly Boarding & Grooming: Phinney A K DVM Veterinary Clinic
-
Johns Kristie DVM Veterinary Clinic
-
Jennifer Stuhler-Raphael Veterinary Clinic
-
Waverly Animal Hospital Boarding Grooming & Wellness Center Veterinary Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$385k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$681k
Blend (final)
Blend
$530k
Owner & transaction history
Vure LLC · 2 yrs held
Vure LLC
since 2024
6 recorded transactions
Zoning & alternative use
F COMME · 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
$385,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
VETERINARY, ANIMAL HOSPITAL
$590,000
Current use
OFFICE BUILDING
$570,000
Change: -4% · Conversion: Difficult
Blend value · Realmo final
$530k
Range $477k – $583k · ±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
$109 / 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
$24,408
Tax year 2022
Assessed value
$457,200
Assessed 2023
Previous assessed
$457,200
+0.0% YoY
Effective rate
5.34%
On assessed value
Assessed land
$65,500
Assessed improvement
$391,700
Land market value
$131,000
Improvement market value
$783,400
Total market value
$914,400
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
Specialty properties
Use group
VETERINARY, ANIMAL HOSPITAL
Status
Off-Market
Year built
1962
Heating
YES
Buildings
2
Stories
1
Total area
4,853 SF
Lot
1.24 ac (54,014 SF)
Zoning code
F COMME
APN
33-21-01-18-301-047
UPID
US43-3212782
Jurisdiction
INGHAM
Zoning & alternative use
F COMME · Lansing, MI
Zoning F COMME · permitted uses
F COMME · 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
VETERINARY, ANIMAL HOSPITAL Current
Est. value
$590,000
OFFICE BUILDING
Est. value
$570,000
VETERINARY, ANIMAL HOSPITAL Current
OFFICE BUILDING
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
1962
Heating
YES
Stories
1
Buildings
2
Lot
1.24 ac
Current owner
From public records · entity-resolved
Vure LLC
Entity
Mailing address
32159 20TH 3RD MILE RD, CHESTERFIELD, MI 48047
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 3, 2024
—
Vure LLC
Wah Re LLC
Warranty Deed
—
Aug 17, 2023
—
Wah Re LLC
Stuhler Property LLC
Warranty Deed
—
Feb 10, 2015
—
Thrush,charles S Trust
Thrush Charles S
Quit Claim Deed
—
Feb 10, 2015
$825,000
Stuhler Property LLC
Pnc Bank NA
Deed
$416,000 · Pnc Bank NA
Jan 16, 2015
—
Thrush,charles S Trust
Thrush Charles S
Quit Claim Deed
—
—
—
Stuhler Property LLC
—
Deed Of Trust
related
$302,000 · Community Dev Commission
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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