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Property profile & analytics
OFF-MARKET
Grocery and convenience stores
5016 Martin Luther King Jr Blvd, Lansing, MI 48910-6126
Entity Owned
5-yr Hold
Free & Clear
Property ID
US43-1025169
Property profile
Verified
Property type
Grocery and convenience stores
Use group
CONVENIENCE STORE
Year built
1957
Total area
43,914 SF
Lot
3.65 ac (158,994 SF)
Zoning code
F COMM
APN
33-01-01-32-451-183
UPID
US43-1025169
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
-
Coinstar Coin Cashing Machine Vending Machine Supplier
-
Calvin C. Helmick, RPH Pharmacy
-
Maura E. Boyle, RPh Pharmacy
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Pet Wash & Grooming Pet Grooming Service
-
Feeders Pet Supply (Bike/Boat/Book/etc) Store Pet Store & Service
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
5016 Mlk LLC · 5 yrs held
5016 Mlk LLC
since 2020
Last sale
$75,000
5 recorded transactions
Zoning & alternative use
F COMM · 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 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
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 2020Property tax & assessments
Tax year 2020
Tax billed
$44,690
Tax year 2020
Assessed value
$937,700
Assessed 2023
Previous assessed
$772,100
+21.4% YoY
Effective rate
4.77%
On assessed value
Assessed land
$275,900
Assessed improvement
$661,800
Land market value
$551,800
Improvement market value
$1,323,600
Total market value
$1,875,400
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
Grocery and convenience stores
Use group
CONVENIENCE STORE
Status
Off-Market
Year built
1957
Heating
YES
Stories
1
Total area
43,914 SF
Lot
3.65 ac (158,994 SF)
Zoning code
F COMM
APN
33-01-01-32-451-183
UPID
US43-1025169
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.
Building & site characteristics
From public records
Year built
1957
Heating
YES
Stories
1
Lot
3.65 ac
Current owner
From public records · entity-resolved
5016 Mlk LLC
Entity
Free & Clear · 5 yrs held
Mailing address
5016 S MARTIN LUTHER KING JR BLVD, LANSING, MI 48910-6126
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2020
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
Sep 17, 2020
$2,700
5016 Mlk LLC
Watha & Pataq LLC
Warranty Deed
related
—
Jan 28, 2020
—
H&n Soldan LLC
Watha And Pataq LLC
Warranty Deed
—
Apr 11, 2011
—
Watha & Pataq LLC
Sheldon L Stone
Grant Deed
related
—
—
—
Watha & Pataq LLC
—
Deed Of Trust
related
$1,085,000 · Firstmerit Bk
—
—
Watha & Pataq 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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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