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Property profile & analytics
OFF-MARKET
Estimated value
$730,000
Office buildings
332 Townsend St, Lansing, MI 48933-2012
Individually Owned
Free & Clear
Property ID
US43-1393285
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2004
Total area
6,696 SF
Lot
0.5 ac (21,780 SF)
Zoning code
E-1 APT
APN
33-01-01-16-329-031
UPID
US43-1393285
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
-
Michigan Beer & Wine Wholesalers Charitable Organization Social Service Agency
-
Michigan Beverage Collective Financial Advisor Insurance Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$871k
Blend (final)
Blend
$730k
Owner & transaction history
Lansing Nest
Lansing Nest
since 2026
3 recorded transactions
Zoning & alternative use
E-1 APT · Lansing, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$585,000
+5.7%
Auto repair, garage
$570,000
+3.4%
Medical building
$570,000
+3.1%
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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$550,000
Current use
RESTAURANT
$585,000
Change: +6% · Conversion: Moderate
AUTO REPAIR, GARAGE
$570,000
Change: +3% · Conversion: Difficult
MEDICAL BUILDING
$570,000
Change: +3% · Conversion: Easy
RETAIL STORES
$480,000
Change: -13% · Conversion: Moderate
Blend value · Realmo final
$730k
Range $657k – $803k · ±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
$109 / 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
$44,363
Tax year 2020
Assessed value
$867,600
Assessed 2023
Previous assessed
$821,900
+5.6% YoY
Effective rate
5.11%
On assessed value
Assessed land
$108,900
Assessed improvement
$758,700
Land market value
$217,800
Improvement market value
$1,517,400
Total market value
$1,735,200
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2004
Heating
YES
Stories
1
Total area
6,696 SF
Lot
0.5 ac (21,780 SF)
Zoning code
E-1 APT
APN
33-01-01-16-329-031
UPID
US43-1393285
Jurisdiction
INGHAM
Zoning & alternative use
E-1 APT · Lansing, MI
Zoning E-1 APT · permitted uses
E-1 APT · 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.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$550,000
RESTAURANT
Est. value
$585,000
AUTO REPAIR, GARAGE
Est. value
$570,000
MEDICAL BUILDING
Est. value
$570,000
RETAIL STORES
Est. value
$480,000
OFFICE BUILDING Current
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RETAIL STORES
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
2004
Heating
YES
Stories
1
Lot
0.5 ac
Current owner
From public records · entity-resolved
Lansing Nest
Individual
Free & Clear · 0 yrs held
Mailing address
332 TOWNSEND ST, LANSING, MI 48933-2012
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2026
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
Apr 30, 2026
—
Lansing Nest
Boji Tower LLC
Warranty Deed
—
Apr 22, 2026
$955,000
Boji Tower LLC
Michigan Beer And Wine Wholesalers Assoc
Warranty Deed
—
Jan 15, 2026
—
Boji Tower LLC
Michigan Beer And Wine Wholesalers
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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