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Property profile & analytics
OFF-MARKET
Estimated value
$840,000
Strip malls
400 Saginaw St 1, Lansing, MI 48906-5248
Entity Owned
14-yr Hold
Free & Clear
Property ID
US43-5197485
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1979
Total area
18,556 SF
Lot
1.61 ac (69,914 SF)
Zoning code
G-1 BUS
APN
33-01-01-16-203-013
UPID
US43-5197485
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
-
Happy's Pizza Restaurant
-
Mex Treats Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$540k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.12M
Blend (final)
Blend
$840k
Owner & transaction history
Abraham Riverfront Mall LLC · 14 yrs held
Abraham Riverfront Mall LLC
since 2012
6 recorded transactions
Zoning & alternative use
G-1 BUS · 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 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
$540,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$1,190,000
Current use
INDUSTRIAL (GENERAL)
$1,165,000
Change: -2% · Conversion: Difficult
RETAIL STORES
$1,065,000
Change: -10% · Conversion: Easy
WAREHOUSE, STORAGE
$1,035,000
Change: -13% · Conversion: Difficult
Blend value · Realmo final
$840k
Range $756k – $924k · ±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
$45 / 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
$27,850
Tax year 2020
Assessed value
$580,000
Assessed 2023
Previous assessed
$574,600
+0.9% YoY
Effective rate
4.80%
On assessed value
Assessed land
$170,900
Assessed improvement
$409,100
Land market value
$341,800
Improvement market value
$818,200
Total market value
$1,160,000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1979
Heating
YES
Stories
1
Total area
18,556 SF
Lot
1.61 ac (69,914 SF)
Zoning code
G-1 BUS
APN
33-01-01-16-203-013
UPID
US43-5197485
Jurisdiction
INGHAM
Zoning & alternative use
G-1 BUS · Lansing, MI
Zoning G-1 BUS · permitted uses
G-1 BUS · 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
$1.2M
INDUSTRIAL (GENERAL)
Est. value
$1.2M
RETAIL STORES
Est. value
$1.1M
WAREHOUSE, STORAGE
Est. value
$1.0M
NEIGHBORHOOD: SHOPPING CENTER Current
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
1979
Heating
YES
Stories
1
Lot
1.61 ac
Current owner
From public records · entity-resolved
Abraham Riverfront Mall LLC
Entity
Free & Clear · 14 yrs held
Mailing address
431 S CAPITOL AVE, LANSING, MI 48933-2003
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 6, 2012
$340,000
Abraham Riverfront Mall LLC
Ardent Service Corp
Grant Deed
—
Jan 13, 2012
—
Ardent Service Corp
First Place Bk
Quit Claim Deed
related
—
Jan 29, 2010
$1,286,156
First Place Bk
Sheriff Of Ingham County
Trustees Deed
related
—
Mar 9, 2007
$2,150,000
Ogren,j & L 1998 Family Trust
Lansing Riverfront Dev LLC
Warranty Deed
$1,612,500 · Franklin Bank
Jun 29, 2006
$1,630,000
Lansing Riverfront Dev LLC
Rivertown Investment Group LLC
Warranty Deed
$1,900,000 · Charter One Bank
Sep 7, 2005
—
Rivertown Investment Group LLC
Lansing Dev LLC
Grant 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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