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Property profile & analytics
OFF-MARKET
Estimated value
$6,455,000
Retail properties & Spaces
3800 Saginaw St Lansing, MI 48917-2275
Entity Owned
1-yr Hold
Free & Clear
Property ID
US43-1760080
Property profile
Verified
Property type
Retail properties & Spaces
Use group
DEPARTMENT STORE
Year built
1962
Total area
97,812 SF
Lot
12.16 ac (529,690 SF)
Zoning code
F COMME
APN
33-21-01-07-352-006
UPID
US43-1760080
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
-
Family Dollar Discount Store
-
B2 Outlet Stores Discount Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.25M
Blend (final)
Blend
$6.46M
Owner & transaction history
Westland Center Lansing LLC · 1 yrs held
Westland Center Lansing LLC
since 2025
2 recorded transactions
Zoning & alternative use
F COMME · Lansing, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$8.5M
+22.2%
Auto repair, garage
$8.3M
+19.5%
Medical building
$8.3M
+19.1%
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
RETAIL STORES
$6,985,000
Current use
RESTAURANT
$8,535,000
Change: +22% · Conversion: Easy
AUTO REPAIR, GARAGE
$8,345,000
Change: +19% · Conversion: Difficult
MEDICAL BUILDING
$8,315,000
Change: +19% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$6,275,000
Change: -10% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$6,135,000
Change: -12% · Conversion: Difficult
WAREHOUSE, STORAGE
$5,690,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$6.46M
Range $5.81M – $7.10M · ±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
$66 / 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
$190,978
Tax year 2022
Assessed value
$3,360,300
Assessed 2023
Previous assessed
$2,933,800
+14.5% YoY
Effective rate
5.68%
On assessed value
Assessed land
$353,400
Assessed improvement
$3,006,900
Land market value
$706,800
Improvement market value
$6,013,800
Total market value
$6,720,600
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 properties & Spaces
Use group
DEPARTMENT STORE
Status
Off-Market
Year built
1962
Heating
YES
Buildings
2
Stories
1
Total area
97,812 SF
Lot
12.16 ac (529,690 SF)
Zoning code
F COMME
APN
33-21-01-07-352-006
UPID
US43-1760080
Jurisdiction
INGHAM
Zoning & alternative use
F COMME · Lansing, MI
Zoning F COMME · permitted uses
F COMME · 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
RETAIL STORES Current
Est. value
$7.0M
RESTAURANT
Est. value
$8.5M
AUTO REPAIR, GARAGE
Est. value
$8.3M
MEDICAL BUILDING
Est. value
$8.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$6.3M
INDUSTRIAL (GENERAL)
Est. value
$6.1M
WAREHOUSE, STORAGE
Est. value
$5.7M
RETAIL STORES Current
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
INDUSTRIAL (GENERAL)
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
1962
Heating
YES
Stories
1
Buildings
2
Lot
12.16 ac
Current owner
From public records · entity-resolved
Westland Center Lansing LLC
Entity
Free & Clear · 1 yrs held
Mailing address
3800 W SAGINAW ST STE #900, LANSING, MI 48917-2275
Ownership since
2025
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
Jun 27, 2025
—
Westland Center Lansing LLC
Tag De LLC
Quitclaim Deed
related
—
Oct 13, 2014
—
Tag De LLC
Westland Center Partnership
Warranty Deed
$21,300,000 · Goldman Sachs Mortgage Co
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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