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Property profile & analytics
OFF-MARKET
Estimated value
$760,000
Bars & Pubs
518 Shiawassee St, Lansing, MI 48912-1214
Entity Owned
17-yr Hold
~
Est. High Equity
Property ID
US43-0133677
Property profile
Verified
Property type
Bars & Pubs
Use group
BAR, TAVERN
Year built
1972
Total area
14,479 SF
Lot
0.8 ac (34,804 SF)
Zoning code
H LT IN
APN
33-01-01-16-276-031
UPID
US43-0133677
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
-
Lansing Brewing Company Production Facility Brewery & Distillery
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$460k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$790k
Blend (final)
Blend
$760k
Owner & transaction history
518 E Shiawassee LLC · 17 yrs held
518 E Shiawassee LLC
since 2009
2 recorded transactions
Zoning & alternative use
H LT IN · 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
$460,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$1,265,000
Current use
AUTO REPAIR, GARAGE
$1,235,000
Change: -2% · Conversion: Difficult
MEDICAL BUILDING
$1,230,000
Change: -3% · Conversion: Difficult
OFFICE BUILDING
$1,195,000
Change: -5% · Conversion: Moderate
RETAIL STORES
$1,035,000
Change: -18% · Conversion: Easy
Blend value · Realmo final
$760k
Range $684k – $836k · ±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
$52 / 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
$32,369
Tax year 2020
Assessed value
$479,700
Assessed 2023
Previous assessed
$448,800
+6.9% YoY
Effective rate
6.75%
On assessed value
Assessed land
$87,000
Assessed improvement
$392,700
Land market value
$174,000
Improvement market value
$785,400
Total market value
$959,400
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
Bars & Pubs
Use group
BAR, TAVERN
Status
Off-Market
Year built
1972
Heating
YES
Stories
1
Bathrooms
3
Total area
14,479 SF
Lot
0.8 ac (34,804 SF)
Zoning code
H LT IN
APN
33-01-01-16-276-031
UPID
US43-0133677
Jurisdiction
INGHAM
Zoning & alternative use
H LT IN · Lansing, MI
Zoning H LT IN · permitted uses
H LT IN · 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
RESTAURANT Current
Est. value
$1.3M
AUTO REPAIR, GARAGE
Est. value
$1.2M
MEDICAL BUILDING
Est. value
$1.2M
OFFICE BUILDING
Est. value
$1.2M
RETAIL STORES
Est. value
$1.0M
RESTAURANT Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
OFFICE BUILDING
RETAIL STORES
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
1972
Heating
YES
Stories
1
Bathrooms
3
Lot
0.8 ac
Current owner
From public records · entity-resolved
518 E Shiawassee LLC
Entity
Mailing address
330 MARSHALL ST STE #100, LANSING, MI 48912-2317
Ownership since
2009
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 2, 2009
$455,000
518 E Shiawassee LLC
Clover Capital Management LLC
Warranty Deed
$385,000 · Summit Community Bank
Feb 11, 2008
—
Clover Capital Management LLC
Berngard,samuel J & Libby A
Quit Claim Deed
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.
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