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Property profile & analytics
OFF-MARKET
Estimated value
$855,000
Bowling alleys
5141 Martin Luther King Jr Blvd, Lansing, MI 48911-3537
Individually Owned
19-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-5263953
Property profile
Verified
Property type
Bowling alleys
Use group
BOWLING ALLEY
Year built
1960
Total area
43,241 SF
Lot
5.43 ac (236,531 SF)
Zoning code
J & F
APN
33-01-05-05-226-090
UPID
US43-5263953
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$855k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$855k
Owner & transaction history
Rodney R Gregg · 19 yrs held
Rodney R Gregg
since 2007
4 recorded transactions
Zoning & alternative use
J & F · 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
Method
Estimation
Statistic approach
by Request
ML approach
$855,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$855k
Range $770k – $941k · ±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
$20 / 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
$28,144
Tax year 2020
Assessed value
$466,100
Assessed 2023
Previous assessed
$277,900
+67.7% YoY
Effective rate
6.04%
On assessed value
Assessed land
$372,300
Assessed improvement
$93,800
Land market value
$744,600
Improvement market value
$187,600
Total market value
$932,200
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
Bowling alleys
Use group
BOWLING ALLEY
Status
Off-Market
Year built
1960
Heating
YES
Stories
1
Total area
43,241 SF
Lot
5.43 ac (236,531 SF)
Zoning code
J & F
APN
33-01-05-05-226-090
UPID
US43-5263953
Jurisdiction
INGHAM
Zoning & alternative use
J & F · Lansing, MI
Zoning J & F · permitted uses
J & F · 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
1960
Heating
YES
Stories
1
Lot
5.43 ac
Current owner
From public records · entity-resolved
Rodney R Gregg
Individual
Mailing address
1335 LK LANSING RD, LANSING, MI 48912-3737
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 16, 2007
$48,856
Rodney R Gregg
Treasurer Of Ingham County
Grant Deed
related
—
Apr 23, 2007
$750,000
Lambency Group LLC
Gregg,rodney R & Deborah S
Warranty Deed
$976,992 · Union Bank
Jun 12, 2000
$731,100
Rodney R Gregg
Metro Bowl INC
Warranty Deed
related
$650,000 · Union Bk NA
—
—
Lambency Group LLC
—
Deed Of Trust
related
$1,050,000 · Union 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.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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