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Property profile & analytics
OFF-MARKET
Estimated value
$1,730,000
Strip malls
2843 Grand Riv Ave, East Lansing, MI 48823-6722
Entity Owned
21-yr Hold
~
Est. High Equity
Property ID
US43-0974757
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1988
Total area
21,562 SF
Lot
2.01 ac (87,643 SF)
Zoning code
C-2
APN
33-02-02-17-379-010
UPID
US43-0974757
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
-
East Oak Sq Shopping Center & Mall
-
The UPS Store Courier Service Postal Service
-
Total Health Chiropractic of East Lansing Alternative Medicine Practice
-
The Chronicle Media Group Marketing & Advertising (Bike/Boat/Book/etc) Store
-
Icy Dental Dental Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.86M
Blend (final)
Blend
$1.73M
Owner & transaction history
East Oak Associates LLC · 21 yrs held
East Oak Associates LLC
since 2005
2 recorded transactions
Zoning & alternative use
C-2 · East Lansing, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$2.7M
+92.1%
Restaurant
$2.5M
+81.7%
Commercial (general)
$2.5M
+78.0%
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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$1,385,000
Current use
MEDICAL BUILDING
$2,660,000
Change: +92% · Conversion: Difficult
RESTAURANT
$2,515,000
Change: +82% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,465,000
Change: +78% · Conversion: Easy
AUTO REPAIR, GARAGE
$2,170,000
Change: +57% · Conversion: Difficult
OFFICE BUILDING
$2,135,000
Change: +54% · Conversion: Moderate
RETAIL STORES
$1,710,000
Change: +24% · Conversion: Easy
WAREHOUSE, STORAGE
$1,410,000
Change: +2% · Conversion: Difficult
Blend value · Realmo final
$1.73M
Range $1.56M – $1.90M · ±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
$59,515
Tax year 2019
Assessed value
$1,148,900
Assessed 2023
Previous assessed
$1,020,300
+12.6% YoY
Effective rate
5.18%
On assessed value
Assessed land
$328,600
Assessed improvement
$820,300
Land market value
$657,200
Improvement market value
$1,640,600
Total market value
$2,297,800
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1988
Heating
YES
Stories
1
Total area
21,562 SF
Lot
2.01 ac (87,643 SF)
Zoning code
C-2
APN
33-02-02-17-379-010
UPID
US43-0974757
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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$1.4M
MEDICAL BUILDING
Est. value
$2.7M
RESTAURANT
Est. value
$2.5M
COMMERCIAL (GENERAL)
Est. value
$2.5M
AUTO REPAIR, GARAGE
Est. value
$2.2M
OFFICE BUILDING
Est. value
$2.1M
RETAIL STORES
Est. value
$1.7M
WAREHOUSE, STORAGE
Est. value
$1.4M
NEIGHBORHOOD: SHOPPING CENTER Current
MEDICAL BUILDING
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
OFFICE BUILDING
RETAIL STORES
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
1988
Heating
YES
Stories
1
Lot
2.01 ac
Current owner
From public records · entity-resolved
East Oak Associates LLC
Entity
Mailing address
2502 LK LANSING RD STE C, LANSING, MI 48912-3661
Ownership since
2005
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
May 26, 2005
—
East Oak Associates LLC
East Oak Square Associates
Quit Claim Deed
$2,000,000 · Standard Insurance Co
—
—
Pt2 LLC
—
Deed Of Trust
related
$1,580,000 · Miscellaneous Ins Co
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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