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Property profile & analytics
FOR LEASE
Retail space
3525 S Martin Luther King Jr Blvd Lansing, MI 48910
Entity Owned
12-yr Hold
~
Est. High Equity
Property ID
US43-1830295
For Lease
1 / 24
Contact for pricing
3525 S Martin Luther King Jr Blvd, Lansing, MI 48910
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Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1995
Total area
10,000 SF
Lot
4.54 ac (197,762 SF)
Zoning code
F COMM
APN
33-01-01-32-226-016
UPID
US43-1830295
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
-
Iglesia Generación Avivamiento - Revival Generation Church Church Mosque
-
The Door Christian Fellowship Church of Lansing Church
-
The Village Lansing Charitable Organization Social Service Agency
-
One Love Global Inc. Charitable Organization Social Service Agency
-
Glamour Nails Nail Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$595k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$821k
Blend (final)
Blend
$975k
Owner & transaction history
Southwind Acquisition LLC · 12 yrs held
Southwind Acquisition LLC
since 2014
4 recorded transactions
Zoning & alternative use
F COMM · Lansing, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
code of ordinances
Top alternative use upside
Restaurant
$875,000
+45.5%
Auto repair, garage
$855,000
+42.3%
Medical building
$850,000
+41.8%
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
$595,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$600,000
Current use
RESTAURANT
$875,000
Change: +45% · Conversion: Easy
AUTO REPAIR, GARAGE
$855,000
Change: +42% · Conversion: Difficult
MEDICAL BUILDING
$850,000
Change: +42% · Conversion: Difficult
OFFICE BUILDING
$700,000
Change: +16% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$640,000
Change: +7% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$625,000
Change: +5% · Conversion: Difficult
Blend value · Realmo final
$975k
Range $878k – $1.07M · ±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
$98 / 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
$56,750
Tax year 2022
Assessed value
$994,000
Assessed 2023
Previous assessed
$887,900
+11.9% YoY
Effective rate
5.71%
On assessed value
Assessed land
$325,500
Assessed improvement
$668,500
Land market value
$651,000
Improvement market value
$1,337,000
Total market value
$1,988,000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Lease
Year built
1995
Heating
YES
Buildings
2
Stories
1
Total area
10,000 SF
Lot
4.54 ac (197,762 SF)
Zoning code
F COMM
APN
33-01-01-32-226-016
UPID
US43-1830295
Jurisdiction
INGHAM
Zoning & alternative use
F COMM · Lansing, MIZoning 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
Source
code of ordinances
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$600,000
RESTAURANT
Est. value
$875,000
AUTO REPAIR, GARAGE
Est. value
$855,000
MEDICAL BUILDING
Est. value
$850,000
OFFICE BUILDING
Est. value
$700,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$640,000
INDUSTRIAL (GENERAL)
Est. value
$625,000
RETAIL STORES Current
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
INDUSTRIAL (GENERAL)
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
1995
Heating
YES
Stories
1
Buildings
2
Lot
4.54 ac
Current owner
From public records · entity-resolved
Southwind Acquisition LLC
Entity
Mailing address
7486 LAKEPOINT ST, WEST BLOOMFIELD, MI 48323-1044
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 17, 2019
—
Southwind Acquistion LLC
—
Deed
related
$4,900,000 · Michigan State University FCU
Jan 27, 2014
—
Southwind Acquisition LLC
Michael Village LLC
Quit Claim Deed
related
$5,685,000 · Talmer Bank & Trust
Dec 14, 2007
—
Michael Village LLC
—
Deed Of Trust
related
$10,000,000 · Pnc Bank
Feb 24, 2006
—
Adams Outdoor Advertising
Michael Village LLC
Grant Deed
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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