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Property profile & analytics
OFF-MARKET
Estimated value
$700,000
Commercial land
2755 Grand Riv Ave East Lansing, MI 48823-5614
Entity Owned
2-yr Hold
Free & Clear
Property ID
US43-1646422
Property profile
Verified
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Year built
2003
Total area
6,366 SF
Lot
0.95 ac (41,295 SF)
Zoning code
C-2
APN
33-02-02-20-127-001
UPID
US43-1646422
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
-
Trader Joe's Grocery & Convenience Store Food Market
-
Kim Aerial Equipment Rental (Bike/Boat/Book/etc) Store Rental Equipment Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$475k
CAP Approach
CAP
$970k
Comparable Approach
Comparable
$732k
Blend (final)
Blend
$700k
Owner & transaction history
Trader Joes East LLC · 2 yrs held
Trader Joes East LLC
since 2023
2 recorded transactions
Zoning & alternative use
C-2 · East Lansing, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$785,000
+7.9%
Restaurant
$740,000
+2.1%
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
$475,000
CAP Approach
CAP Return
Estimation
6%
$1,050,000
6.5%
$970,000
7%
$900,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$725,000
Current use
MEDICAL BUILDING
$785,000
Change: +8% · Conversion: Easy
RESTAURANT
$740,000
Change: +2% · Conversion: Difficult
AUTO REPAIR, GARAGE
$640,000
Change: -12% · Conversion: Difficult
OFFICE BUILDING
$630,000
Change: -13% · Conversion: Easy
Blend value · Realmo final
$700k
Range $630k – $770k · ±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
$110 / 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
$28,846
Tax year 2019
Assessed value
$320,300
Assessed 2023
Previous assessed
$320,300
+0.0% YoY
Effective rate
9.01%
On assessed value
Assessed land
$320,300
Land market value
$640,600
Total market value
$640,600
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
Commercial land
Use group
VACANT COMMERCIAL LAND
Status
Off-Market
Year built
2003
Heating
PACKAGE
Stories
1
Total area
6,366 SF
Lot
0.95 ac (41,295 SF)
Zoning code
C-2
APN
33-02-02-20-127-001
UPID
US43-1646422
Jurisdiction
INGHAM
Zoning & alternative use
C-2 · East Lansing, MI
Zoning 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
East Lansing. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$725,000
MEDICAL BUILDING
Est. value
$785,000
RESTAURANT
Est. value
$740,000
AUTO REPAIR, GARAGE
Est. value
$640,000
OFFICE BUILDING
Est. value
$630,000
COMMERCIAL (GENERAL) Current
MEDICAL BUILDING
RESTAURANT
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
2003
Heating
PACKAGE
Stories
1
Lot
0.95 ac
Current owner
From public records · entity-resolved
Trader Joes East LLC
Entity
Free & Clear · 2 yrs held
Mailing address
800 S SHAMROCK AVE, MONROVIA, CA 91016-6346
Ownership since
2023
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
Sep 5, 2023
—
Trader Joes East LLC
Sh G2755 LLC
Warranty Deed
—
Oct 26, 2021
$1,150,000
Sh G2755 LLC
Lot 1 Property Group LLC
Warranty Deed
$2,050,000 · Access Bidco LLC
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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