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Property profile & analytics
OFF-MARKET
Estimated value
$810,000
Retail space
5118 Martin Luther King Jr Blvd, Lansing, MI 48911-3536
Entity Owned
Free & Clear
Property ID
US43-1080330
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2001
Total area
10,880 SF
Lot
1.35 ac (58,850 SF)
Zoning code
F COMM
APN
33-01-05-05-202-153
UPID
US43-1080330
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
-
UPS Access Point location Courier Service Postal Service
-
MoneyGram Bank Credit Union
-
CDReload - Online Bitcoin ATM Atm Currency Exchange Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$841k
Blend (final)
Blend
$810k
Owner & transaction history
WEC 2000 BCSF10 L L C · 1 yrs held
WEC 2000 BCSF10 L L C
since 2025
Last sale
$801,110
1 recorded transaction
Zoning & alternative use
F COMM · Lansing, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$950,000
+22.2%
Auto repair, garage
$930,000
+19.5%
Medical building
$925,000
+19.1%
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
$775,000
Current use
RESTAURANT
$950,000
Change: +22% · Conversion: Easy
AUTO REPAIR, GARAGE
$930,000
Change: +19% · Conversion: Difficult
MEDICAL BUILDING
$925,000
Change: +19% · Conversion: Difficult
OFFICE BUILDING
$900,000
Change: +16% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$700,000
Change: -10% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$685,000
Change: -12% · Conversion: Difficult
WAREHOUSE, STORAGE
$635,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$810k
Range $729k – $891k · ±10% · vs last sale $801k (Dec 30 2025)
Last sale anchor
$801k
Dec 30 2025
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
$74 / 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
$27,061
Tax year 2020
Assessed value
$493,800
Assessed 2023
Previous assessed
$486,500
+1.5% YoY
Effective rate
5.48%
On assessed value
Assessed land
$115,700
Assessed improvement
$378,100
Land market value
$231,400
Improvement market value
$756,200
Total market value
$987,600
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
2001
Heating
YES
Stories
1
Total area
10,880 SF
Lot
1.35 ac (58,850 SF)
Zoning code
F COMM
APN
33-01-05-05-202-153
UPID
US43-1080330
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
$775,000
RESTAURANT
Est. value
$950,000
AUTO REPAIR, GARAGE
Est. value
$930,000
MEDICAL BUILDING
Est. value
$925,000
OFFICE BUILDING
Est. value
$900,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$700,000
INDUSTRIAL (GENERAL)
Est. value
$685,000
WAREHOUSE, STORAGE
Est. value
$635,000
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
2001
Heating
YES
Stories
1
Lot
1.35 ac
Current owner
From public records · entity-resolved
WEC 2000 BCSF10 L L C
Individual
Free & Clear · 1 yrs held
Mailing address
PO BOX 1610, COCKEYSVILLE, MD 21030-7610
Ownership since
2025
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
Dec 30, 2025
$801,110
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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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