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Property profile & analytics
OFF-MARKET
Estimated value
$785,000
Grocery and convenience stores
3955 Ernest Way, Lansing, MI 48906-9203
Entity Owned
7-yr Hold
Free & Clear
Property ID
US43-4152789
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
2019
Construction
STEEL FRAME
Total area
8,247 SF
Lot
3.75 ac (163,350 SF)
Zoning code
BC
APN
050-019-200-006-00
UPID
US43-4152789
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
-
Dunkin' Cafe & Coffee Shop
-
Sunoco Gas Station Gas Station
-
Tailgaters Grocery & Convenience Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$650k
Blend (final)
Blend
$785k
Owner & transaction history
Dadco Exchange LLC · 7 yrs held
Dadco Exchange LLC
since 2019
3 recorded transactions
Zoning & alternative use
BC · Lansing, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$720,000
+51.8%
Auto repair, garage
$705,000
+48.5%
Medical building
$700,000
+48.0%
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
$475,000
Current use
RESTAURANT
$720,000
Change: +52% · Conversion: Easy
AUTO REPAIR, GARAGE
$705,000
Change: +48% · Conversion: Difficult
MEDICAL BUILDING
$700,000
Change: +48% · Conversion: Difficult
OFFICE BUILDING
$695,000
Change: +46% · Conversion: Easy
Blend value · Realmo final
$785k
Range $707k – $864k · ±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
$95 / 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
$61,125
Tax year 2022
Assessed value
$1,149,700
Assessed 2024
Previous assessed
$1,139,200
+0.9% YoY
Effective rate
5.32%
On assessed value
Assessed land
$431,200
Assessed improvement
$718,500
Land market value
$862,400
Improvement market value
$1,437,000
Total market value
$2,299,400
Applied tax rate
50.0000
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
2019
Construction
STEEL FRAME
Heating
YES
Stories
1
Total area
8,247 SF
Lot
3.75 ac (163,350 SF)
Zoning code
BC
APN
050-019-200-006-00
UPID
US43-4152789
Jurisdiction
CLINTON
Zoning & alternative use
BC · Lansing, MI
Zoning BC · permitted uses
BC · 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
$475,000
RESTAURANT
Est. value
$720,000
AUTO REPAIR, GARAGE
Est. value
$705,000
MEDICAL BUILDING
Est. value
$700,000
OFFICE BUILDING
Est. value
$695,000
RETAIL STORES Current
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
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
2019
Construction
STEEL FRAME
Heating
YES
Stories
1
Lot
3.75 ac
Current owner
From public records · entity-resolved
Dadco Exchange LLC
Entity
Free & Clear · 7 yrs held
Mailing address
3955 ERNEST WAY, LANSING, MI 48906-9203
Mailing matches property
Yes
Owner-occupied
Yes
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 18, 2022
—
Dedco Exchange LLC
—
Deed
related
$3,000,000 · Michigan State University FCU
May 13, 2019
—
Dadco Exchange LLC
—
Deed
related
$3,400,000 · Mercantile Bank
Mar 26, 2019
—
Dadco Exchange LLC
Louis J Eyde Family LLC
Warranty Deed
—
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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