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Property profile & analytics
OFF-MARKET
Estimated value
$515,000
Banks
301 Jolly Rd Lansing, MI 48910-6676
Individually Owned
14-yr Hold
~
Est. High Equity
Property ID
US43-5010490
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
2013
Total area
5,018 SF
Lot
1.81 ac (78,844 SF)
Zoning code
F COMM
APN
33-01-01-33-452-011
UPID
US43-5010490
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
-
Astera Credit Union - Jolly Rd Bank Credit Union
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$365k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$670k
Blend (final)
Blend
$515k
Owner & transaction history
Astera Cu · 14 yrs held
Astera Cu
since 2012
5 recorded transactions
Zoning & alternative use
F COMM · Lansing, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
code of ordinances
Top alternative use upside
Auto repair, garage
$545,000
+13.0%
Restaurant
$520,000
+7.4%
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
$365,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
FINANCIAL BUILDING
$480,000
Current use
AUTO REPAIR, GARAGE
$545,000
Change: +13% · Conversion: Difficult
RESTAURANT
$520,000
Change: +7% · Conversion: Difficult
Blend value · Realmo final
$515k
Range $464k – $567k · ±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
$103 / 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
$63,810
Tax year 2022
Assessed value
$966,500
Assessed 2023
Previous assessed
$1,005,200
-3.8% YoY
Effective rate
6.60%
On assessed value
Assessed land
$151,600
Assessed improvement
$814,900
Land market value
$303,200
Improvement market value
$1,629,800
Total market value
$1,933,000
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
Banks
Use group
FINANCIAL BUILDING
Status
Off-Market
Year built
2013
Heating
YES
Buildings
2
Stories
1
Total area
5,018 SF
Lot
1.81 ac (78,844 SF)
Zoning code
F COMM
APN
33-01-01-33-452-011
UPID
US43-5010490
Jurisdiction
INGHAM
Zoning & alternative use
F COMM · Lansing, MIZoning F COMM · permitted uses
F COMM · Lansing, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
code of ordinances
Alternative use value scenarios
Repositioning upside vs current use
FINANCIAL BUILDING Current
Est. value
$480,000
AUTO REPAIR, GARAGE
Est. value
$545,000
RESTAURANT
Est. value
$520,000
FINANCIAL BUILDING Current
AUTO REPAIR, GARAGE
RESTAURANT
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
2013
Heating
YES
Stories
1
Buildings
2
Lot
1.81 ac
Current owner
From public records · entity-resolved
Astera Cu
Individual
Mailing address
111 S WAVERLY RD, LANSING, MI 48917-3630
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 22, 2012
$500,000
Astera Cu
Mercantile Bk Mtg Co LLC
Grant Deed
—
Apr 3, 2012
—
Mercantile Bk Mtg Co LLC
Marmike Investment Co LLC
Deed In Lieu Of Foreclosure
related
—
—
—
Marmike Investment Co LLC
—
Deed Of Trust
related
—
—
—
Marmike Investment Co LLC
—
Deed Of Trust
related
—
—
—
Marmike Investment Co LLC
—
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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