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Property profile & analytics
OFF-MARKET
Estimated value
$1,565,000
Office buildings
411 Lake Lansing Rd B, East Lansing, MI 48823-8445
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US43-0748422
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1988
Total area
9,972 SF
Lot
1.7 ac (74,052 SF)
Zoning code
B4
APN
33-20-01-01-408-021
UPID
US43-0748422
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
-
Chad Dennis- Senior Mortgage Consultant Loan Service Bank
-
Janice Szur - Union Home Mortgage Loan Service Bank
-
Real Estate Services Real Estate Agency
-
Capitol Area Management Services Property Management Company Home Inspector
-
JK. Winters P.C. Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.66M
CAP Approach
CAP
$1.38M
Comparable Approach
Comparable
$1.58M
Blend (final)
Blend
$1.57M
Owner & transaction history
411 Lake Lansing LLC · 4 yrs held
411 Lake Lansing LLC
since 2022
Last sale
$1.6M
2 recorded transactions
Zoning & alternative use
B4 · East Lansing, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$1.2M
+24.5%
Restaurant
$1.2M
+17.8%
Commercial (general)
$1.1M
+15.4%
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 East Lansing submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs East 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
$1,575,000
ML approach
$1,660,000
CAP Approach
CAP Return
Estimation
6%
$1,495,000
6.5%
$1,380,000
7%
$1,280,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$985,000
Current use
MEDICAL BUILDING
$1,230,000
Change: +24% · Conversion: Easy
RESTAURANT
$1,165,000
Change: +18% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,140,000
Change: +15% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,005,000
Change: +2% · Conversion: Difficult
Blend value · Realmo final
$1.57M
Range $1.41M – $1.72M · ±10% · vs last sale $1.55M (Apr 27 2022)
Last sale anchor
$1.55M
Apr 27 2022
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
$157 / 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
$49,882
Tax year 2022
Assessed value
$679,800
Assessed 2023
Previous assessed
$650,900
+4.4% YoY
Effective rate
7.34%
On assessed value
Assessed land
$101,900
Assessed improvement
$577,900
Land market value
$203,800
Improvement market value
$1,155,800
Total market value
$1,359,600
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1988
Heating
YES
Buildings
2
Stories
1
Total area
9,972 SF
Lot
1.7 ac (74,052 SF)
Zoning code
B4
APN
33-20-01-01-408-021
UPID
US43-0748422
Jurisdiction
INGHAM
Zoning & alternative use
B4 · East Lansing, MI
Zoning B4 · permitted uses
B4 · East Lansing, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
East Lansing. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$985,000
MEDICAL BUILDING
Est. value
$1.2M
RESTAURANT
Est. value
$1.2M
COMMERCIAL (GENERAL)
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$1.0M
OFFICE BUILDING Current
MEDICAL BUILDING
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
1988
Heating
YES
Stories
1
Buildings
2
Lot
1.7 ac
Current owner
From public records · entity-resolved
411 Lake Lansing LLC
Entity
Mailing address
23 N WASHINGTON ST, YPSILANTI, MI 48197-2617
Ownership since
2022
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
Apr 27, 2022
$1,550,350
411 Lake Lansing LLC
Professional Business Office
Warranty Deed
$1,192,500 · The State Bank
—
—
Professional Business Office
—
Deed Of Trust
related
$1,120,998 · Dart Bank
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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