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Property profile & analytics
OFF-MARKET
Estimated value
$3,535,000
Medical Office Space
3496 Lk Lansing Rd, East Lansing, MI 48823-2288
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US43-5161324
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1995
Total area
13,156 SF
Lot
4.21 ac (183,388 SF)
Zoning code
C1
APN
33-20-02-06-301-005
UPID
US43-5161324
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
-
Anna Scates Foster Care Service Social Service Agency
-
Terrance L. Borges, PA Physician
-
Dr. William Warren, MD Physician
-
Dr. Manuel E. Garcia Physician
-
Mark A. Boomershine, PA Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.59M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.54M
Owner & transaction history
Jlm Land LLC · 4 yrs held
Jlm Land LLC
since 2022
Last sale
$3.5M
7 recorded transactions
Zoning & alternative use
C1 · East 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 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
$3,555,000
ML approach
$3,590,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$3.54M
Range $3.18M – $3.89M · ±10% · vs last sale $3.50M (Jun 27 2022)
Last sale anchor
$3.50M
Jun 27 2022
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
$269 / 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
$70,559
Tax year 2022
Assessed value
$961,600
Assessed 2023
Previous assessed
$921,400
+4.4% YoY
Effective rate
7.34%
On assessed value
Assessed land
$734,400
Assessed improvement
$227,200
Land market value
$1,468,800
Improvement market value
$454,400
Total market value
$1,923,200
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1995
Heating
YES
Buildings
2
Stories
1
Total area
13,156 SF
Lot
4.21 ac (183,388 SF)
Zoning code
C1
APN
33-20-02-06-301-005
UPID
US43-5161324
Jurisdiction
INGHAM
Zoning & alternative use
C1 · East Lansing, MI
Zoning C1 · permitted uses
C1 · 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.
Building & site characteristics
From public records
Year built
1995
Heating
YES
Stories
1
Buildings
2
Lot
4.21 ac
Current owner
From public records · entity-resolved
Jlm Land LLC
Entity
Mailing address
2149 JOLLY RD STE #200, OKEMOS, MI 48864-6027
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 25, 2025
—
Jlm Land LLC
—
Deed
related
—
Jun 27, 2022
$3,500,000
Jlm Land LLC
Chandler Lake Leaisng LLC
Warranty Deed
$2,625,000 · Michigan State University FCU
Mar 1, 2017
—
Chandler-lake Lansing LLC
—
Deed
related
$1,900,000 · First Nat'l Bk/america
Apr 24, 2006
$474,166
Abbott Office Associates LLP
Columbia LLC
Warranty Deed
—
Apr 24, 2006
$2,500,000
Chandler-lake Lansing LLC
Abbott Office Associates LLP
Warranty Deed
$2,320,000 · Fifth Third Bank
Apr 24, 2006
$316,110
Abbott Office Associates LLP
Harmony Associates LLC
Warranty Deed
—
—
—
Chandler-lake Lansing LLC
—
Loan Modification
related
$1,900,000 · First Nat'l Bk/america
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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