New search
Property profile & analytics
OFF-MARKET
Estimated value
$990,000
Outlet malls
3301 Michigan Ave, Lansing, MI 48912-4641
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US43-1523307
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
1961
Total area
96,636 SF
Lot
9.48 ac (413,079 SF)
Zoning code
F COMM
APN
33-01-01-13-151-002
UPID
US43-1523307
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
-
Home Care | University of Michigan Health-Sparrow Home Health Care Service
-
Sparrow Patient Financial Services Medical Billing Service
-
Business And Education Center (SBEC) | University of Michigan Health-Sparrow Corporate Office
-
Dunham's Sports (Bike/Boat/Book/etc) Store
-
Lansing Twp Fire Department General Contractor Security Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.07M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$990k
Owner & transaction history
Summit Partners · 4 yrs held
Summit Partners
since 2021
Last sale
$965,000
6 recorded transactions
Zoning & alternative use
F COMM · 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 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
$960,000
ML approach
$1,070,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$990k
Range $891k – $1.09M · ±10% · vs last sale $965k (Nov 2 2021)
Last sale anchor
$965k
Nov 2 2021
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
$10 / 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 2020Property tax & assessments
Tax year 2020
Tax billed
$117,539
Tax year 2020
Assessed value
$2,180,600
Assessed 2023
Previous assessed
$2,021,000
+7.9% YoY
Effective rate
5.39%
On assessed value
Assessed land
$785,200
Assessed improvement
$1,395,400
Land market value
$1,570,400
Improvement market value
$2,790,800
Total market value
$4,361,200
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
1961
Heating
YES
Stories
1
Total area
96,636 SF
Lot
9.48 ac (413,079 SF)
Zoning code
F COMM
APN
33-01-01-13-151-002
UPID
US43-1523307
Jurisdiction
INGHAM
Zoning & alternative use
F COMM · Lansing, MI
Zoning 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
Lansing. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1961
Heating
YES
Stories
1
Lot
9.48 ac
Current owner
From public records · entity-resolved
Summit Partners
Entity
Mailing address
1111 MICHIGAN AVE STE #300, EAST LANSING, MI 48823-4050
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 14, 2023
—
3301 East Michigan Partnership
—
Deed
related
$6,496,000 · Michigan State University FCU
Nov 2, 2021
$965,000
Summit Partners
Douglas J Cron
Deed
—
Nov 1, 2021
$3,132,000
Jolly Oak LLC
Douglas J Cron
Deed
$400,000 · Mercantile Bank Of Michigan
Oct 29, 2021
$4,097,000
Douglas J Cron
3301 East Michigan Partnership
Warranty Deed
—
—
—
3301 East Mi Ptshp
—
Deed Of Trust
related
$2,055,000 · Mercantile Bank Mortgage Co
—
—
3301 East Michigan Ptshp
—
Deed Of Trust
related
$3,450,000 · Mercantile Bank Mortgage 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 3301 Michigan Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
