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Property profile & analytics
OFF-MARKET
Estimated value
$1,130,000
Medical Office Space
3390 Jolly Rd Lansing, MI 48910-8547
Entity Owned
6-yr Hold
Free & Clear
Property ID
US43-1042706
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2000
Total area
11,321 SF
Lot
1.01 ac (44,170 SF)
Zoning code
C-2
APN
33-25-05-01-100-021
UPID
US43-1042706
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
-
Associated Retinal Consultants-Lansing Physician
-
Lance C. Lemon, M.D., M.S. Ophthalmologist
-
Foremost Podiatry PC Medical Clinic
-
Matthew K. Thomson, DPM Physician
-
James Toney, DPM Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.35M
Blend (final)
Blend
$1.13M
Owner & transaction history
Gmr Lansing Jolly 3390 LLC · 6 yrs held
Gmr Lansing Jolly 3390 LLC
since 2019
2 recorded transactions
Zoning & alternative use
C-2 · Lansing, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$990,000
+2.6%
Auto repair, garage
$965,000
+0.3%
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
MEDICAL BUILDING
$965,000
Current use
RESTAURANT
$990,000
Change: +3% · Conversion: Difficult
AUTO REPAIR, GARAGE
$965,000
Change: +0% · Conversion: Difficult
OFFICE BUILDING
$790,000
Change: -18% · Conversion: Easy
Blend value · Realmo final
$1.13M
Range $1.02M – $1.24M · ±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
$100 / 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
$38,850
Tax year 2022
Assessed value
$637,000
Assessed 2023
Previous assessed
$581,700
+9.5% YoY
Effective rate
6.10%
On assessed value
Assessed land
$71,800
Assessed improvement
$565,200
Land market value
$143,600
Improvement market value
$1,130,400
Total market value
$1,274,000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2000
Heating
ZONE
Stories
1
Total area
11,321 SF
Lot
1.01 ac (44,170 SF)
Zoning code
C-2
APN
33-25-05-01-100-021
UPID
US43-1042706
Jurisdiction
INGHAM
Zoning & alternative use
C-2 · Lansing, MI
Zoning C-2 · permitted uses
C-2 · 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
MEDICAL BUILDING Current
Est. value
$965,000
RESTAURANT
Est. value
$990,000
AUTO REPAIR, GARAGE
Est. value
$965,000
OFFICE BUILDING
Est. value
$790,000
MEDICAL BUILDING Current
RESTAURANT
AUTO REPAIR, GARAGE
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
2000
Heating
ZONE
Stories
1
Lot
1.01 ac
Current owner
From public records · entity-resolved
Gmr Lansing Jolly 3390 LLC
Entity
Free & Clear · 6 yrs held
Mailing address
150 W JEFFERSON AVE STE #1400, DETROIT, MI 48226-4454
Ownership since
2019
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
Aug 28, 2019
—
Gmr Lansing Jolly 3390 LLC
Genesis Professional Building
Grant Deed
—
—
—
Genesis Prof Building One 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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