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Property profile & analytics
OFF-MARKET
Estimated value
$490,000
Retail space
2649 Grand Riv Ave East Lansing, MI 48823-5607
Entity Owned
10-yr Hold
Free & Clear
Property ID
US43-1525722
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2016
Total area
6,101 SF
Lot
0.89 ac (38,899 SF)
Zoning code
C-2
APN
33-02-02-20-205-012
UPID
US43-1525722
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
-
The Lansing Car Wrap Co (Bike/Boat/Book/etc) Store Printing Service
-
AutoZone Auto Parts Auto Parts Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$490k
CAP Approach
CAP
$645k
Comparable Approach
Comparable
$713k
Blend (final)
Blend
$490k
Owner & transaction history
Kildea Investments Prop LLC · 10 yrs held
Kildea Investments Prop LLC
since 2016
2 recorded transactions
Zoning & alternative use
C-2 · East Lansing, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$750,000
+55.4%
Restaurant
$710,000
+47.0%
Commercial (general)
$695,000
+44.0%
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 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
Method
Estimation
Statistic approach
by Request
ML approach
$490,000
CAP Approach
CAP Return
Estimation
6%
$700,000
6.5%
$645,000
7%
$600,000
Alternative Use
Use
Estimation
RETAIL STORES
$485,000
Current use
MEDICAL BUILDING
$750,000
Change: +55% · Conversion: Difficult
RESTAURANT
$710,000
Change: +47% · Conversion: Easy
COMMERCIAL (GENERAL)
$695,000
Change: +44% · Conversion: Easy
AUTO REPAIR, GARAGE
$615,000
Change: +27% · Conversion: Difficult
OFFICE BUILDING
$605,000
Change: +25% · Conversion: Easy
Blend value · Realmo final
$490k
Range $441k – $539k · ±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
$80 / 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 2019Property tax & assessments
Tax year 2019
Tax billed
$33,847
Tax year 2019
Assessed value
$564,900
Assessed 2023
Previous assessed
$514,000
+9.9% YoY
Effective rate
5.99%
On assessed value
Assessed land
$155,500
Assessed improvement
$409,400
Land market value
$311,000
Improvement market value
$818,800
Total market value
$1,129,800
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
2016
Heating
YES
Stories
1
Total area
6,101 SF
Lot
0.89 ac (38,899 SF)
Zoning code
C-2
APN
33-02-02-20-205-012
UPID
US43-1525722
Jurisdiction
INGHAM
Zoning & alternative use
C-2 · East Lansing, MIZoning C-2 · permitted uses
C-2 · East Lansing, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$485,000
MEDICAL BUILDING
Est. value
$750,000
RESTAURANT
Est. value
$710,000
COMMERCIAL (GENERAL)
Est. value
$695,000
AUTO REPAIR, GARAGE
Est. value
$615,000
OFFICE BUILDING
Est. value
$605,000
RETAIL STORES Current
MEDICAL BUILDING
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
2016
Heating
YES
Stories
1
Lot
0.89 ac
Current owner
From public records · entity-resolved
Kildea Investments Prop LLC
Entity
Free & Clear · 10 yrs held
Mailing address
123 S FRNT ST, MEMPHIS, TN 38103-3607
Ownership since
2016
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
Apr 14, 2016
—
Kildea Investments Prop LLC
Kildea,joseph M
Quit Claim Deed
related
—
Apr 14, 2016
$700,000
Autozone Dev LLC
Kildea Investment Properties
Warranty Deed
—
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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