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Property profile & analytics
OFF-MARKET
Estimated value
$845,000
Auto shops
2710 Michigan Ave, Lansing, MI 48917-2970
Entity Owned
12-yr Hold
Free & Clear
Property ID
US43-1625418
Property profile
Verified
Property type
Auto shops
Use group
AUTO REPAIR, GARAGE
Year built
1977
Total area
14,128 SF
Lot
9.34 ac (406,850 SF)
Zoning code
H INDUS
APN
33-21-01-18-276-003
UPID
US43-1625418
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$905k
Blend (final)
Blend
$845k
Owner & transaction history
Racer Properties LLC · 12 yrs held
Racer Properties LLC
since 2014
4 recorded transactions
Zoning & alternative use
H INDUS · Lansing, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.2M
+2.3%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$1,205,000
Current use
RESTAURANT
$1,235,000
Change: +2% · Conversion: Difficult
MEDICAL BUILDING
$1,200,000
Change: 0% · Conversion: Difficult
RETAIL STORES
$1,010,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$845k
Range $761k – $930k · ±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
$60 / 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
$2,335
Tax year 2022
Assessed value
$339,200
Assessed 2023
Previous assessed
$312,100
+8.7% YoY
Effective rate
0.69%
On assessed value
Assessed land
$60,100
Assessed improvement
$279,100
Land market value
$120,200
Improvement market value
$558,200
Total market value
$678,400
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
Auto shops
Use group
AUTO REPAIR, GARAGE
Status
Off-Market
Year built
1977
Heating
SPACE
Stories
1
Total area
14,128 SF
Lot
9.34 ac (406,850 SF)
Zoning code
H INDUS
APN
33-21-01-18-276-003
UPID
US43-1625418
Jurisdiction
INGHAM
Zoning & alternative use
H INDUS · Lansing, MI
Zoning H INDUS · permitted uses
H INDUS · 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
AUTO REPAIR, GARAGE Current
Est. value
$1.2M
RESTAURANT
Est. value
$1.2M
MEDICAL BUILDING
Est. value
$1.2M
RETAIL STORES
Est. value
$1.0M
AUTO REPAIR, GARAGE Current
RESTAURANT
MEDICAL BUILDING
RETAIL STORES
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
1977
Heating
SPACE
Stories
1
Lot
9.34 ac
Current owner
From public records · entity-resolved
Racer Properties LLC
Entity
Free & Clear · 12 yrs held
Mailing address
2710 W MICHIGAN AVE, LANSING, MI 48917-2970
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 5, 2014
—
Racer Properties LLC
Motors Liquidation Co Dip
Grant Deed
related
—
Jun 9, 2011
—
Racer Props LLC
Motors Liquidation Co
Quit Claim Deed
related
—
Feb 20, 2009
—
General Motors Corp
—
Deed Of Trust
related
—
—
—
General Motors Corp
—
Deed Of Trust
related
—
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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