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Property profile & analytics
OFF-MARKET
Estimated value
$6,330,000
Community centers
426 Edgewood Blvd, Lansing, MI 48911
Entity Owned
5-yr Hold
Free & Clear
Property ID
US43-1624737
Property profile
Verified
Property type
Community centers
Use group
MINI-MALL
Year built
1989
Total area
88,453 SF
Lot
10.94 ac (476,721 SF)
Zoning code
G-2 WHO
APN
33-01-05-09-403-082
UPID
US43-1624737
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
$5.68M
Blend (final)
Blend
$6.33M
Owner & transaction history
Edgewood Blvd LLC · 5 yrs held
Edgewood Blvd LLC
since 2021
5 recorded transactions
Zoning & alternative use
G-2 WHO · Lansing, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$7.7M
+36.0%
Auto repair, garage
$7.5M
+33.0%
Medical building
$7.5M
+32.5%
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
NEIGHBORHOOD: SHOPPING CENTER
$5,675,000
Current use
RESTAURANT
$7,720,000
Change: +36% · Conversion: Difficult
AUTO REPAIR, GARAGE
$7,545,000
Change: +33% · Conversion: Difficult
MEDICAL BUILDING
$7,520,000
Change: +33% · Conversion: Difficult
OFFICE BUILDING
$7,300,000
Change: +29% · Conversion: Moderate
RETAIL STORES
$6,315,000
Change: +11% · Conversion: Easy
INDUSTRIAL (GENERAL)
$5,550,000
Change: -2% · Conversion: Difficult
WAREHOUSE, STORAGE
$5,145,000
Change: -9% · Conversion: Difficult
Blend value · Realmo final
$6.33M
Range $5.70M – $6.96M · ±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
$72 / 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
$198,659
Tax year 2020
Assessed value
$2,932,600
Assessed 2023
Previous assessed
$2,945,100
-0.4% YoY
Effective rate
6.77%
On assessed value
Assessed land
$606,200
Assessed improvement
$2,326,400
Land market value
$1,212,400
Improvement market value
$4,652,800
Total market value
$5,865,200
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
Community centers
Use group
MINI-MALL
Status
Off-Market
Year built
1989
Heating
YES
Stories
1
Total area
88,453 SF
Lot
10.94 ac (476,721 SF)
Zoning code
G-2 WHO
APN
33-01-05-09-403-082
UPID
US43-1624737
Jurisdiction
INGHAM
Zoning & alternative use
G-2 WHO · Lansing, MI
Zoning G-2 WHO · permitted uses
G-2 WHO · 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
$5.7M
RESTAURANT
Est. value
$7.7M
AUTO REPAIR, GARAGE
Est. value
$7.5M
MEDICAL BUILDING
Est. value
$7.5M
OFFICE BUILDING
Est. value
$7.3M
RETAIL STORES
Est. value
$6.3M
INDUSTRIAL (GENERAL)
Est. value
$5.6M
WAREHOUSE, STORAGE
Est. value
$5.1M
NEIGHBORHOOD: SHOPPING CENTER Current
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
OFFICE BUILDING
RETAIL STORES
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
1989
Heating
YES
Stories
1
Lot
10.94 ac
Current owner
From public records · entity-resolved
Edgewood Blvd LLC
Entity
Free & Clear · 5 yrs held
Mailing address
29355 NORTHWESTERN HWY STE #301, SOUTHFIELD, MI 48034-1045
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 22, 2021
—
Edgewood Blvd LLC
—
Deed
related
$4,700,000 · Independent Bank
Jun 11, 2021
—
Edgewood Blvd LLC
Rcg Lansing LLC
Deed
—
Oct 3, 2013
—
Rcg-lansing LLC
Ramco-gershenson Properties LP
Grant Deed
related
$3,400,000 · State Bk&tr
Dec 29, 2009
—
Ramco-gershenson Props LP
—
Deed Of Trust
related
$232,000,000 · Key Bank NA
—
—
Rcg-lansing LLC
—
Deed Of Trust
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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