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Property profile & analytics
OFF-MARKET
Estimated value
$550,000
Retail space
2524 Cedar St 68 Lansing, MI 48910-3138
Individually Owned
23-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-1154146
Property summary
AI-generated overview
This exceptional 5,980-square-foot retail property, located at 2524 S Cedar St in Lansing, Michigan, presents a remarkable opportunity for businesses seeking a high-visibility location. The single-tenant building sits on a 0.74-acre lot and offers 57 parking spaces, ensuring convenient access for customers. The entire 5,980 square feet is currently vacant, providing a blank canvas for a new tenant to customize the space to perfectly suit their needs. The property's strategic location in Ingham County, within Lansing, MI (zip code 48910), promises significant foot traffic and brand exposure. The building boasts a modern exterior and adaptable interior layout, making it suitable for a wide range of retail or commercial uses. The expansive storefront ensures high visibility from the street, while the ample parking caters to customer convenience. This property offers a unique chance to establish a thriving business in a desirable and accessible location. The property's size and features make it ideal for businesses requiring significant space and convenient parking for customers and employees. The address is 2524 S Cedar St, Lansing, MI 48910.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2001
Total area
5,982 SF
Lot
0.74 ac (32,104 SF)
Zoning code
G-1 BUS
APN
33-01-01-28-256-063
UPID
US43-1154146
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
-
T Bombs Firework Discount Store Party Supply Store
-
Family Video Property For Lease (Bike/Boat/Book/etc) Store Media Distribution
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$370k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$445k
Blend (final)
Blend
$550k
Owner & transaction history
Eric Hoogland
Eric Hoogland
2 recorded transactions
Zoning & alternative use
G-1 BUS · Lansing, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
code of ordinances
Top alternative use upside
Restaurant
$520,000
+45.5%
Auto repair, garage
$510,000
+42.3%
Medical building
$510,000
+41.8%
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
$370,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$360,000
Current use
RESTAURANT
$520,000
Change: +45% · Conversion: Easy
AUTO REPAIR, GARAGE
$510,000
Change: +42% · Conversion: Difficult
MEDICAL BUILDING
$510,000
Change: +42% · Conversion: Difficult
OFFICE BUILDING
$420,000
Change: +16% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$385,000
Change: +7% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$375,000
Change: +5% · Conversion: Difficult
WAREHOUSE, STORAGE
$350,000
Change: -3% · Conversion: Difficult
Blend value · Realmo final
$550k
Range $495k – $605k · ±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
$92 / 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 2020Property tax & assessments
Tax year 2020
Tax billed
$17,939
Tax year 2020
Assessed value
$280,800
Assessed 2023
Previous assessed
$279,700
+0.4% YoY
Effective rate
6.39%
On assessed value
Assessed land
$64,200
Assessed improvement
$216,600
Land market value
$128,400
Improvement market value
$433,200
Total market value
$561,600
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
2001
Heating
YES
Stories
1
Bathrooms
2
Total area
5,982 SF
Lot
0.74 ac (32,104 SF)
Zoning code
G-1 BUS
APN
33-01-01-28-256-063
UPID
US43-1154146
Jurisdiction
INGHAM
Zoning & alternative use
G-1 BUS · Lansing, MIZoning G-1 BUS · permitted uses
G-1 BUS · Lansing, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
code of ordinances
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$360,000
RESTAURANT
Est. value
$520,000
AUTO REPAIR, GARAGE
Est. value
$510,000
MEDICAL BUILDING
Est. value
$510,000
OFFICE BUILDING
Est. value
$420,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$385,000
INDUSTRIAL (GENERAL)
Est. value
$375,000
WAREHOUSE, STORAGE
Est. value
$350,000
RETAIL STORES Current
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
INDUSTRIAL (GENERAL)
WAREHOUSE, STORAGE
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
2001
Heating
YES
Stories
1
Bathrooms
2
Lot
0.74 ac
Current owner
From public records · entity-resolved
Eric Hoogland
Individual
Mailing address
2701 W LAWRENCE AVE STE A, SPRINGFIELD, IL 62704-7215
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
—
—
Eric Hoogland
—
Loan Modification
related
$560,000 · Bank Of Springfield
—
—
Eric Hoogland
—
Deed Of Trust
related
$560,000 · Bank Of Springfield
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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