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Property profile & analytics
OFF-MARKET
Estimated value
$860,000
Auto shops
3010 Lk Lansing Rd 23 East Lansing, MI 48823-2207
Entity Owned
15-yr Hold
Free & Clear
Property ID
US43-1154572
Property profile
Verified
Property type
Auto shops
Use group
AUTO REPAIR, GARAGE
Year built
1972
Total area
5,455 SF
Lot
0.68 ac (29,621 SF)
Zoning code
C-2
APN
33-02-02-06-477-015
UPID
US43-1154572
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
-
Marathon Gas Gas Station
-
Toarmina's Pizza East Lansing Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$852k
Blend (final)
Blend
$860k
Owner & transaction history
Hop Family LLC · 15 yrs held
Hop Family LLC
since 2011
2 recorded transactions
Zoning & alternative use
C-2 · East Lansing, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$670,000
+22.5%
Restaurant
$635,000
+15.9%
Commercial (general)
$625,000
+13.5%
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
AUTO REPAIR, GARAGE
$550,000
Current use
MEDICAL BUILDING
$670,000
Change: +22% · Conversion: Difficult
RESTAURANT
$635,000
Change: +16% · Conversion: Difficult
COMMERCIAL (GENERAL)
$625,000
Change: +14% · Conversion: Moderate
OFFICE BUILDING
$540,000
Change: -2% · Conversion: Difficult
Blend value · Realmo final
$860k
Range $774k – $946k · ±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
$158 / 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
$21,631
Tax year 2022
Assessed value
$351,500
Assessed 2023
Previous assessed
$296,300
+18.6% YoY
Effective rate
6.15%
On assessed value
Assessed land
$74,000
Assessed improvement
$277,500
Land market value
$148,000
Improvement market value
$555,000
Total market value
$703,000
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
Auto shops
Use group
AUTO REPAIR, GARAGE
Status
Off-Market
Year built
1972
Heating
SPACE
Buildings
2
Stories
1
Total area
5,455 SF
Lot
0.68 ac (29,621 SF)
Zoning code
C-2
APN
33-02-02-06-477-015
UPID
US43-1154572
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
AUTO REPAIR, GARAGE Current
Est. value
$550,000
MEDICAL BUILDING
Est. value
$670,000
RESTAURANT
Est. value
$635,000
COMMERCIAL (GENERAL)
Est. value
$625,000
OFFICE BUILDING
Est. value
$540,000
AUTO REPAIR, GARAGE Current
MEDICAL BUILDING
RESTAURANT
COMMERCIAL (GENERAL)
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
1972
Heating
SPACE
Stories
1
Buildings
2
Lot
0.68 ac
Current owner
From public records · entity-resolved
Hop Family LLC
Entity
Free & Clear · 15 yrs held
Mailing address
PO BOX 9464, WYOMING, MI 49509-0464
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
Mar 15, 2011
—
Hop Family LLC
J & H Oil Co
Warranty Deed
related
—
Feb 28, 2011
$150,000
J & H Oil Co
Marathon Petroleum Co LP
Grant Deed
—
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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