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Property profile & analytics
OFF-MARKET
Estimated value
$575,000
Retail space
4929 Cedar St, Lansing, MI 48910-6837
Entity Owned
7-yr Hold
Free & Clear
Property ID
US43-1350140
Property summary
AI-generated overview
This exceptional 2,000 square foot end-cap retail suite is located in a bustling Lansing neighborhood center at 4929 S Cedar St, Lansing, MI 48910. Boasting excellent frontage on S. Cedar St, this property benefits from high traffic counts due to its strategic location off the heavily trafficked intersection of Jolly Rd and Cedar St. The suite features large front windows, providing ample natural light and maximizing visibility for optimal customer attraction. The single-story building, constructed in 1983, is part of a three-suite complex totaling 7,150 square feet, situated on a 0.51-acre lot (APN: 33-01-01-33-482-003). The property is zoned F-Commercial, offering flexibility for a variety of retail uses. Join established tenants Cricket and WaveMax Laundry in this well-maintained center, which offers ample parking and prominent pylon signage. Its convenient location provides easy access to I-96 and surrounding communities including Holt, East Lansing, and Okemos, ensuring a wide customer base. This is an unparalleled opportunity for businesses seeking high visibility and convenient access in a prime Lansing location.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1983
Total area
7,150 SF
Lot
0.52 ac (22,521 SF)
Zoning code
F COMM
APN
33-01-01-33-482-003
UPID
US43-1350140
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
-
Cricket Wireless Authorized Retailer Mobile Phone Store Electronics & Wireless Store
-
WaveMAX Laundry Lansing, MI (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$448k
Blend (final)
Blend
$575k
Owner & transaction history
2gen Investment LLC · 7 yrs held
2gen Investment LLC
since 2018
3 recorded transactions
Zoning & alternative use
F COMM · Lansing, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$625,000
+45.5%
Auto repair, garage
$610,000
+42.3%
Medical building
$610,000
+41.8%
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
$430,000
Current use
RESTAURANT
$625,000
Change: +45% · Conversion: Easy
AUTO REPAIR, GARAGE
$610,000
Change: +42% · Conversion: Difficult
MEDICAL BUILDING
$610,000
Change: +42% · Conversion: Difficult
OFFICE BUILDING
$500,000
Change: +16% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$460,000
Change: +7% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$450,000
Change: +5% · Conversion: Difficult
WAREHOUSE, STORAGE
$415,000
Change: -3% · Conversion: Difficult
Blend value · Realmo final
$575k
Range $518k – $633k · ±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
$80 / 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
$16,798
Tax year 2020
Assessed value
$282,500
Assessed 2023
Previous assessed
$391,600
-27.9% YoY
Effective rate
5.95%
On assessed value
Assessed land
$45,000
Assessed improvement
$237,500
Land market value
$90,000
Improvement market value
$475,000
Total market value
$565,000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1983
Heating
YES
Stories
1
Total area
7,150 SF
Lot
0.52 ac (22,521 SF)
Zoning code
F COMM
APN
33-01-01-33-482-003
UPID
US43-1350140
Jurisdiction
INGHAM
Zoning & alternative use
F COMM · Lansing, MI
Zoning F COMM · permitted uses
F COMM · 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
$430,000
RESTAURANT
Est. value
$625,000
AUTO REPAIR, GARAGE
Est. value
$610,000
MEDICAL BUILDING
Est. value
$610,000
OFFICE BUILDING
Est. value
$500,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$460,000
INDUSTRIAL (GENERAL)
Est. value
$450,000
WAREHOUSE, STORAGE
Est. value
$415,000
RETAIL STORES Current
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
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
1983
Heating
YES
Stories
1
Lot
0.52 ac
Current owner
From public records · entity-resolved
2gen Investment LLC
Entity
Free & Clear · 7 yrs held
Mailing address
2383 GRAYSTONE DR, OKEMOS, MI 48864-3238
Ownership since
2018
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
Oct 22, 2018
—
2gen Investment LLC
Vtcck LLC
Warranty Deed
related
—
Nov 21, 2013
—
Vtcck LLC
Kobacker Associates II LP
Grant Deed
—
—
—
Vtcck LLC
—
Deed Of Trust
related
$218,000 · Bank Of Holland
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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