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Property profile & analytics
OFF-MARKET
Retail space
423 Albert Ave 21, East Lansing, MI 48823-4406
Entity Owned
6-yr Hold
Free & Clear
Property ID
US43-1182172
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1964
Total area
3,380 SF
Lot
0.11 ac (4,704 SF)
Zoning code
B3
APN
33-20-02-18-152-005
UPID
US43-1182172
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Student Book Store INC · 6 yrs held
Student Book Store INC
since 2019
2 recorded transactions
Zoning & alternative use
B3 · East 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 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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 2019Property tax & assessments
Tax year 2019
Tax billed
$10,265
Tax year 2019
Assessed value
$161,700
Assessed 2023
Previous assessed
$154,700
+4.5% YoY
Effective rate
6.35%
On assessed value
Assessed land
$141,700
Assessed improvement
$20,000
Land market value
$283,400
Improvement market value
$40,000
Total market value
$323,400
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
Off-Market
Year built
1964
Heating
YES
Cooling
AC.PACKAGE
Stories
1
Total area
3,380 SF
Lot
0.11 ac (4,704 SF)
Zoning code
B3
APN
33-20-02-18-152-005
UPID
US43-1182172
Jurisdiction
INGHAM
Zoning & alternative use
B3 · East Lansing, MI
Zoning B3 · permitted uses
B3 · 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.
Building & site characteristics
From public records
Year built
1964
Heating
YES
Cooling
Yes
Stories
1
Lot
0.11 ac
Current owner
From public records · entity-resolved
Student Book Store INC
Entity
Free & Clear · 6 yrs held
Mailing address
421 E GRAND RIV AVE, EAST LANSING, MI 48823-4432
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 18, 2019
$425,000
Student Book Store INC
Knostman J L Living Trust
Warranty Deed
—
Nov 3, 2005
—
Student Book Store INC
Knostman,june
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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