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Property profile & analytics
FOR LEASE
Community centers
3500 South Cedar St, Lansing, MI 48910
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US43-4202580
For Lease
1 / 10
$144 SF/Yr
3500 South Cedar St, Lansing, MI 48910
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Property summary
AI-generated overview
This exceptional 1,200 square foot single-tenant office space is located at 3500 S Cedar St, Lansing, MI 48910, within the Everette Plaza complex. The property, built in 1987, sits on 6.21 acres and is zoned MX-3 DISTRICT MIXED USE C (APN: 01-01-33-203-304, Ingham County). The single-story building offers convenient access and ample parking directly facing Cedar Street. This high-visibility location benefits from a prominent street sign with space for business signage, ensuring excellent exposure. The property's strategic location at the intersection of Cedar and Holmes Road places it amongst established businesses including the Capital Area District Library, Tacos' E Mas, Averheath, Community Mental Health, and Luminosity Nails, creating a vibrant and thriving commercial environment. This traditional office space presents a unique opportunity for businesses seeking a well-situated and easily accessible location in a bustling Lansing commercial hub. The property features a total building square footage of 1,200 square feet.
Property profile
Verified
Property type
Community centers
Use group
MINI-MALL
Year built
1987
Total area
33,106 SF
Lot
3.51 ac (152,896 SF)
Zoning code
F COMM
APN
33-01-01-33-203-304
UPID
US43-4202580
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
-
NAMI Lansing Crisis Center Medical Clinic
-
Tacos E Mas Restaurant
-
Michigan Combat and Movement Arts Theater & Performing Art Venue
-
CADL - South Lansing Library Public Library Library
-
ADAM Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.59M
Blend (final)
Blend
$1.45M
Owner & transaction history
Everett Plaza Associates LLC · 8 yrs held
Everett Plaza Associates LLC
since 2018
1 recorded transaction
Zoning & alternative use
F COMM · Lansing, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$2.3M
+8.8%
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
NEIGHBORHOOD: SHOPPING CENTER
$2,125,000
Current use
OFFICE BUILDING
$2,310,000
Change: +9% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$2,075,000
Change: -2% · Conversion: Difficult
RETAIL STORES
$1,985,000
Change: -7% · Conversion: Easy
WAREHOUSE, STORAGE
$1,925,000
Change: -9% · Conversion: Difficult
Blend value · Realmo final
$1.45M
Range $1.31M – $1.60M · ±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
$44 / 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
$61,967
Tax year 2020
Assessed value
$1,069,600
Assessed 2023
Previous assessed
$987,000
+8.4% YoY
Effective rate
5.79%
On assessed value
Assessed land
$267,400
Assessed improvement
$802,200
Land market value
$534,800
Improvement market value
$1,604,400
Total market value
$2,139,200
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
Community centers
Use group
MINI-MALL
Status
For Lease
Year built
1987
Heating
ZONE
Stories
1
Total area
33,106 SF
Lot
3.51 ac (152,896 SF)
Zoning code
F COMM
APN
33-01-01-33-203-304
UPID
US43-4202580
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.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$2.1M
OFFICE BUILDING
Est. value
$2.3M
INDUSTRIAL (GENERAL)
Est. value
$2.1M
RETAIL STORES
Est. value
$2.0M
WAREHOUSE, STORAGE
Est. value
$1.9M
NEIGHBORHOOD: SHOPPING CENTER Current
OFFICE BUILDING
INDUSTRIAL (GENERAL)
RETAIL STORES
WAREHOUSE, STORAGE
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
1987
Heating
ZONE
Stories
1
Lot
3.51 ac
Current owner
From public records · entity-resolved
Everett Plaza Associates LLC
Entity
Mailing address
1120 KEYSTONE AVE, LANSING, MI 48911-4032
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 14, 2018
$1,580,000
Everett Plaza Associates LLC
Everett Plaza Associates
Warranty Deed
$1,185,000 · Michigan State University FCU
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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