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Property profile & analytics
OFF-MARKET
Individual retail properties
2900 Hannah Blvd, East Lansing, MI 48823-5384
Entity Owned
14-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-1490108
Property profile
Verified
Property type
Individual retail properties
Use group
GYM, HEALTH SPA
Year built
1989
Total area
129,030 SF
Lot
12.97 ac (564,973 SF)
Zoning code
RP
APN
33-02-02-20-152-006
UPID
US43-1490108
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
-
Dr. Ronald H. Bradley, DO Physician
-
Leslie A. Perry, OTR Physician
-
Mid Michigan Physicians Physician Medical Clinic
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East Lansing Diabetes & Endocrinology | University of Michigan Health-Sparrow Medical Clinic
-
The MAC Shack Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Sparrow Dev INC · 14 yrs held
Sparrow Dev INC
since 2011
2 recorded transactions
Zoning & alternative use
RP · East Lansing, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
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
Individual retail properties
Use group
GYM, HEALTH SPA
Status
Off-Market
Year built
1989
Heating
ZONE
Buildings
3
Stories
2
Total area
129,030 SF
Lot
12.97 ac (564,973 SF)
Zoning code
RP
APN
33-02-02-20-152-006
UPID
US43-1490108
Jurisdiction
INGHAM
Zoning & alternative use
RP · East Lansing, MI
Zoning RP · permitted uses
RP · 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.
Building & site characteristics
From public records
Year built
1989
Heating
ZONE
Stories
2
Buildings
3
Lot
12.97 ac
Current owner
From public records · entity-resolved
Sparrow Dev INC
Entity
Mailing address
1215 E MICHIGAN AVE, LANSING, MI 48912-1811
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2011
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
Jul 18, 2011
—
Sparrow Dev INC
—
Loan Modification
related
$10,266,666 · Pnc Bk/oh
—
—
Sparrow Dev INC
—
Deed Of Trust
related
$33,867,261 · Comerica Bk
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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