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Property profile & analytics
OFF-MARKET
Estimated value
$850,000
Grocery and convenience stores
500 Saginaw St 1, Lansing, MI 48906-5252
Entity Owned
4-yr Hold
Absentee Owner
Free & Clear
Property ID
US43-1628512
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1964
Total area
10,082 SF
Lot
1.44 ac (62,596 SF)
Zoning code
H LT IN
APN
33-01-01-16-226-002
UPID
US43-1628512
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
-
Quality Dairy Store Grocery & Convenience Store
-
Quality Dairy Grocery & Convenience Store
-
Bitstop Bitcoin ATM Crypto Atm Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$652k
Blend (final)
Blend
$850k
Owner & transaction history
Quality Dairy Company · 4 yrs held
Quality Dairy Company
since 2021
1 recorded transaction
Zoning & alternative use
H LT IN · Lansing, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$880,000
+51.8%
Auto repair, garage
$860,000
+48.5%
Medical building
$855,000
+48.0%
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
$580,000
Current use
RESTAURANT
$880,000
Change: +52% · Conversion: Easy
AUTO REPAIR, GARAGE
$860,000
Change: +48% · Conversion: Difficult
MEDICAL BUILDING
$855,000
Change: +48% · Conversion: Difficult
OFFICE BUILDING
$850,000
Change: +46% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$645,000
Change: +12% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$630,000
Change: +9% · Conversion: Difficult
WAREHOUSE, STORAGE
$560,000
Change: -3% · Conversion: Difficult
Blend value · Realmo final
$850k
Range $765k – $935k · ±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
$84 / 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
$20,561
Tax year 2020
Assessed value
$363,500
Assessed 2023
Previous assessed
$324,700
+11.9% YoY
Effective rate
5.66%
On assessed value
Assessed land
$153,900
Assessed improvement
$209,600
Land market value
$307,800
Improvement market value
$419,200
Total market value
$727,000
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
1964
Heating
YES
Stories
1
Total area
10,082 SF
Lot
1.44 ac (62,596 SF)
Zoning code
H LT IN
APN
33-01-01-16-226-002
UPID
US43-1628512
Jurisdiction
INGHAM
Zoning & alternative use
H LT IN · Lansing, MI
Zoning H LT IN · permitted uses
H LT IN · 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
$580,000
RESTAURANT
Est. value
$880,000
AUTO REPAIR, GARAGE
Est. value
$860,000
MEDICAL BUILDING
Est. value
$855,000
OFFICE BUILDING
Est. value
$850,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$645,000
INDUSTRIAL (GENERAL)
Est. value
$630,000
WAREHOUSE, STORAGE
Est. value
$560,000
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
1964
Heating
YES
Stories
1
Lot
1.44 ac
Current owner
From public records · entity-resolved
Quality Dairy Company
Entity
Free & Clear · 4 yrs held
Mailing address
111 W MT HOPE AVE STE 3A, LANSING, MI 48910-9080
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 5, 2021
—
Quality Dairy Company
Adams Outdoor Advertising LP
Lease
—
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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