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Property profile & analytics
FOR SALE
Grocery and convenience stores
5101 South Pennsylvania Ave Lansing, MI 48911
Entity Owned
15-yr Hold
~
Est. High Equity
Property ID
US43-5232018
For Sale
1 / 2
$500,000
5101 South Pennsylvania Ave, Lansing, MI 48911
View Listing →
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1956
Total area
2,615 SF
Lot
0.3 ac (13,199 SF)
Zoning code
F COMM
APN
33-01-05-03-126-001
UPID
US43-5232018
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
-
Mikho's Used Tires Auto Parts Store Discount Store
-
Mikho's Smoke Shop (Bike/Boat/Book/etc) Store
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
Mikho Properties LLC · 15 yrs held
Mikho Properties LLC
since 2010
6 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
$7,474
Tax year 2020
Assessed value
$110,600
Assessed 2023
Previous assessed
$113,300
-2.4% YoY
Effective rate
6.76%
On assessed value
Assessed land
$26,400
Assessed improvement
$84,200
Land market value
$52,800
Improvement market value
$168,400
Total market value
$221,200
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
For Sale
Year built
1956
Heating
YES
Stories
1
Total area
2,615 SF
Lot
0.3 ac (13,199 SF)
Zoning code
F COMM
APN
33-01-05-03-126-001
UPID
US43-5232018
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
1956
Heating
YES
Stories
1
Lot
0.3 ac
Current owner
From public records · entity-resolved
Mikho Properties LLC
Entity
Mailing address
5101 S PENNSYLVANIA AVE, LANSING, MI 48911-4002
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2010
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 30, 2010
$250,000
Mikho Properties LLC
Penn Jolly LLC
Warranty Deed
related
$130,000 · Citizens Federal Bank Fsb
Apr 25, 2006
$550,000
Penn Jolly LLC
Bingo Brothers LLC
Warranty Deed
$525,000 · Citizens Federal Bank Fsb
Apr 19, 2005
—
Bingo Brothers LLC
Douglas Bingham
Quit Claim Deed
related
$384,952 · The Dart Bank
Aug 21, 2003
—
Douglas Bingham
Bingham,donald L
Quit Claim Deed
related
—
Nov 22, 1999
—
Bingo Brothers LLC
Bingham,douglas W
Quit Claim Deed
related
—
—
—
Bingo Brothers LLC
—
Deed Of Trust
related
$384,952 · Dart Bank
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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