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Property profile & analytics
OFF-MARKET
Estimated value
$4,180,000
Office buildings
2407 Grand Riv Ave, Lansing, MI 48906-3900
Entity Owned
8-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-4240944
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2011
Total area
31,728 SF
Lot
5.92 ac (257,875 SF)
Zoning code
MIXED Z
APN
33-01-01-05-476-123
UPID
US43-4240944
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
-
Licensing and Regulatory Affairs - LARA BMMR Government Office
-
State Of Michigan Department Of Licensing And Regulatory Affairs Corporations Division Government Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$5.03M
Comparable Approach
Comparable
$3.62M
Blend (final)
Blend
$4.18M
Owner & transaction history
2122 Mlk LLC · 8 yrs held
2122 Mlk LLC
since 2018
1 recorded transaction
Zoning & alternative use
MIXED Z · Lansing, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.8M
+3.7%
Auto repair, garage
$2.7M
+1.4%
Medical building
$2.7M
+1.0%
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
by Request
CAP Approach
CAP Return
Estimation
6%
$5,440,000
6.5%
$5,025,000
7%
$4,665,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,670,000
Current use
RESTAURANT
$2,770,000
Change: +4% · Conversion: Moderate
AUTO REPAIR, GARAGE
$2,705,000
Change: +1% · Conversion: Difficult
MEDICAL BUILDING
$2,700,000
Change: +1% · Conversion: Easy
Blend value · Realmo final
$4.18M
Range $3.76M – $4.60M · ±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
$132 / 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
$223,812
Tax year 2022
Assessed value
$2,806,000
Assessed 2023
Previous assessed
$3,168,700
-11.4% YoY
Effective rate
7.98%
On assessed value
Assessed land
$318,100
Assessed improvement
$2,487,900
Land market value
$636,200
Improvement market value
$4,975,800
Total market value
$5,612,000
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
2011
Heating
YES
Buildings
2
Stories
1
Total area
31,728 SF
Lot
5.92 ac (257,875 SF)
Zoning code
MIXED Z
APN
33-01-01-05-476-123
UPID
US43-4240944
Jurisdiction
INGHAM
Zoning & alternative use
MIXED Z · Lansing, MI
Zoning MIXED Z · permitted uses
MIXED Z · 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
OFFICE BUILDING Current
Est. value
$2.7M
RESTAURANT
Est. value
$2.8M
AUTO REPAIR, GARAGE
Est. value
$2.7M
MEDICAL BUILDING
Est. value
$2.7M
OFFICE BUILDING Current
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL 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
2011
Heating
YES
Stories
1
Buildings
2
Lot
5.92 ac
Current owner
From public records · entity-resolved
2122 Mlk LLC
Entity
Mailing address
3400 WW RD, EAST LANSING, MI 48823-7309
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 26, 2018
—
2122 Mlk LLC
—
Deed Of Trust
related
$3,400,000 · Lake Tr Cu
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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