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Property profile & analytics
OFF-MARKET
Estimated value
$1,430,000
Drive through restaurants
331 Washington Sq 7 Lansing, MI 48933-2114
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US43-5244092
Property profile
Verified
Property type
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Year built
1887
Total area
1,529 SF
Lot
0.05 ac (2,178 SF)
Zoning code
G-1 BUS
APN
33-01-01-16-405-131
UPID
US43-5244092
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
-
Strange Matter Downtown Cafe & Coffee Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.28M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.43M
Owner & transaction history
Washington Square At Kalamazoo LLC · 6 yrs held
Washington Square At Kalamazoo LLC
since 2020
Last sale
$1.6M
3 recorded transactions
Zoning & alternative use
G-1 BUS · 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
$1,290,000
ML approach
$1,275,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.43M
Range $1.29M – $1.57M · ±10% · vs last sale $1.58M (Mar 12 2020)
Last sale anchor
$1.58M
Mar 12 2020
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
$935 / 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
$13,153
Tax year 2022
Assessed value
$159,100
Assessed 2023
Previous assessed
$187,200
-15.0% YoY
Effective rate
8.27%
On assessed value
Assessed land
$11,000
Assessed improvement
$148,100
Land market value
$22,000
Improvement market value
$296,200
Total market value
$318,200
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
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Status
Off-Market
Year built
1887
Heating
YES
Buildings
2
Stories
1
Total area
1,529 SF
Lot
0.05 ac (2,178 SF)
Zoning code
G-1 BUS
APN
33-01-01-16-405-131
UPID
US43-5244092
Jurisdiction
INGHAM
Zoning & alternative use
G-1 BUS · Lansing, MI
Zoning G-1 BUS · permitted uses
G-1 BUS · 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
1887
Heating
YES
Stories
1
Buildings
2
Lot
0.05 ac
Current owner
From public records · entity-resolved
Washington Square At Kalamazoo LLC
Entity
Mailing address
6565 S CHANDLER RD, SAINT JOHNS, MI 48879-9130
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 12, 2020
$1,580,000
Washington Square At Kalamazoo LLC
329 337 S Washington LLC
Warranty Deed
$1,220,000 · Eaton Fsb
Jan 12, 2007
$715,000
329-337 South Washington LLC
Prime Management
Warranty Deed
$992,000 · Fifth Third Bank
—
—
329-337 S Washington LLC
—
Deed Of Trust
related
$1,177,469 · Monarch Community Bank
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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