Realmo Analytics

Get reports on 50M+ commercial properties in the US. Find and target property leads based on your business goal.

Financial
Distress signals
Property profile

2489 Lk Lansing Rd East Lansing, MI 48823

OFF-MARKET
Drug stores
Property ID
US43-1161464
14,520 SF 2.59 ac lot Built 2008
Last sale Apr 2025
Entity Owned Owner of record is a legal entity (LLC / corporation). 1-yr Hold Held for 1 years. Free & Clear No active or open recorded mortgage detected.
Saved · see the list in your Dashboard
Market Trends Soon

Property summary

AI-generated overview

This exceptional investment opportunity presents a 14,520 square foot, free-standing Rite Aid pharmacy in East Lansing, Michigan. Built in 2008 on a 2.29-acre lot, the property boasts a strong location at a highly visible, lighted intersection, adjacent to a newly developed Costco. The building survived a recent bankruptcy restructure, resulting in a new, significantly reduced lease (40% reduction) favorable to the buyer. The current lease is a triple-net (NNN) lease with three years…

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. Included with a plan.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with a plan.

Debts

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — included with a plan.

Property tax · 2019

What does the county charge?
$68k
Tax billed · 2019
Assessed value · 2023$936k
Assessed land$203k
Assessed improvement$732k
Effective rate7.24%

Value estimate

· Oct 2026
$740k
$666k – $814k
CAP approach$1.54M
Submarket $/SF estimate$1.42M

Realmo valuation models over county records.

Recently sold

What actually traded nearby?
$79/SF
County average, outlier-cleaned · 136 recorded sales of this use type
Observed band · Q1–Q3$43 – $117

Cap rate analysis

How does the asset earn?

No income signal is modeled for this parcel yet — the Cap Rates tab runs the workflow.

Zoning insight

What can be built here?
B2
JurisdictionINGHAM

Location intelligence

Which uses thrive at this corner?
Best fit: Realty agency
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Realty agency27.1
Restaurant25.5
Building Supply21.9

Location

2489 Lk Lansing Rd East Lansing, MI 48823-9712
County assessor Recorded deeds · 5 transfers Qualifying comp sales · not on file Zoning catalog

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

6 recorded sales · 17 properties nearby
Recent sales nearby
6 recorded sales in this ZIP, last 8 years
Address Sale price Sold Size
4980 Park Lk, East Lansing, MI 48823-3836 $635,000 May 2024 6,000 SF
1600 Abbot, East Lansing, MI 48823-1971 $4,100,000 Jun 2023 12,256 SF
626 Michigan, East Lansing, MI 48823-4219 $1,066,667 Apr 2023 5,103 SF
321 Grand Riv, East Lansing, MI 48823-4324 $850,000 Mar 2022 3,808 SF
515 Grand Riv, East Lansing, MI 48823-4203 $950,000 Feb 2020 3,420 SF
3315 Coolidge, East Lansing, MI 48823-6366 $1,630,000 Oct 2019 3,384 SF
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 2489 Lk Lansing Rd?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
More about this property
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Please enter message
Why this one?
Saved
Reason not saved — we won't ask again