New search
Property profile & analytics
OFF-MARKET
Estimated value
$1,015,000
Retail space
515 Grand Riv Ave 17, East Lansing, MI 48823-4203
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US43-1851272
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1930
Total area
3,420 SF
Lot
0.22 ac (9,757 SF)
Zoning code
RM32
APN
33-20-01-13-237-003
UPID
US43-1851272
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
-
Tabooli Restaurant
-
Campus Dental Care Dental Office
-
Yoga State of Mind, Body & Soul, LLC Gym & Fitness Center
-
Lansing Laser Tattoo Removal Tattoo & Piercing Shop Skin Care Clinic
-
Möge Tee MSU Cafe & Coffee Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.05M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.02M
Owner & transaction history
J J Investment Properties LLC · 6 yrs held
J J Investment Properties LLC
since 2020
Last sale
$950,000
3 recorded transactions
Zoning & alternative use
RM32 · East 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 East Lansing submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs East 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
$1,120,000
ML approach
$1,045,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.02M
Range $914k – $1.12M · ±10% · vs last sale $950k (Feb 18 2020)
Last sale anchor
$950k
Feb 18 2020
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
$297 / 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 2019Property tax & assessments
Tax year 2019
Tax billed
$12,054
Tax year 2019
Assessed value
$167,900
Assessed 2023
Previous assessed
$157,900
+6.3% YoY
Effective rate
7.18%
On assessed value
Assessed land
$39,000
Assessed improvement
$128,900
Land market value
$78,000
Improvement market value
$257,800
Total market value
$335,800
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
1930
Heating
YES
Cooling
AC.PACKAGE
Stories
1
Total area
3,420 SF
Lot
0.22 ac (9,757 SF)
Zoning code
RM32
APN
33-20-01-13-237-003
UPID
US43-1851272
Jurisdiction
INGHAM
Zoning & alternative use
RM32 · East Lansing, MI
Zoning RM32 · permitted uses
RM32 · East Lansing, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
East Lansing. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1930
Heating
YES
Cooling
Yes
Stories
1
Lot
0.22 ac
Current owner
From public records · entity-resolved
J J Investment Properties LLC
Entity
Mailing address
251 W GRAND RIV AVE, EAST LANSING, MI 48823-4210
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 18, 2020
$950,000
J J Investment Properties LLC
Haslett & Mlk Dev LLC
Warranty Deed
—
Jun 24, 2015
$550,000
Haslett & Mlk Dev LLC
Lansing Farm Products Co
Warranty Deed
$440,000 · Lafcu
—
—
Haslett & Mlk Dev LLC
—
Deed Of Trust
related
$100,000 · Lafcu
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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