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Property profile & analytics
OFF-MARKET
Estimated value
$2,750,000
Office buildings
5656 Cedar St, Lansing, MI 48911-3894
Entity Owned
1-yr Hold
Free & Clear
Property ID
US43-0986928
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2020
Total area
31,745 SF
Lot
3.8 ac (165,572 SF)
Zoning code
J & H
APN
33-01-05-04-401-051
UPID
US43-0986928
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
-
Richard K. Wooster, CSW Foster Care Service Social Service Agency
-
Vaz Godfrey R MD Physician
-
Breast & Cervical Cancer Control Medical Clinic
-
Julieanne Freds Physician
-
Lansing VA Clinic Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.31M
Blend (final)
Blend
$2.75M
Owner & transaction history
Lansing Mi I Fgf LLC · 1 yrs held
Lansing Mi I Fgf LLC
since 2025
7 recorded transactions
Zoning & alternative use
J & H · Lansing, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.8M
+5.7%
Auto repair, garage
$2.7M
+3.4%
Medical building
$2.7M
+3.1%
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
OFFICE BUILDING
$2,620,000
Current use
RESTAURANT
$2,770,000
Change: +6% · Conversion: Moderate
AUTO REPAIR, GARAGE
$2,710,000
Change: +3% · Conversion: Difficult
MEDICAL BUILDING
$2,700,000
Change: +3% · Conversion: Easy
RETAIL STORES
$2,265,000
Change: -13% · Conversion: Moderate
Blend value · Realmo final
$2.75M
Range $2.48M – $3.03M · ±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
$87 / 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
$29,489
Tax year 2020
Assessed value
$2,169,500
Assessed 2023
Previous assessed
$1,926,600
+12.6% YoY
Effective rate
1.36%
On assessed value
Assessed land
$284,700
Assessed improvement
$1,884,800
Land market value
$569,400
Improvement market value
$3,769,600
Total market value
$4,339,000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2020
Heating
YES
Stories
1
Total area
31,745 SF
Lot
3.8 ac (165,572 SF)
Zoning code
J & H
APN
33-01-05-04-401-051
UPID
US43-0986928
Jurisdiction
INGHAM
Zoning & alternative use
J & H · Lansing, MI
Zoning J & H · permitted uses
J & H · 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
OFFICE BUILDING Current
Est. value
$2.6M
RESTAURANT
Est. value
$2.8M
AUTO REPAIR, GARAGE
Est. value
$2.7M
MEDICAL BUILDING
Est. value
$2.7M
RETAIL STORES
Est. value
$2.3M
OFFICE BUILDING Current
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL 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
2020
Heating
YES
Stories
1
Lot
3.8 ac
Current owner
From public records · entity-resolved
Lansing Mi I Fgf LLC
Entity
Free & Clear · 1 yrs held
Mailing address
666 MCKINLEY AVE, ALPENA, MI 49707-2600
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
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 26, 2025
—
Lansing Mi I Fgf LLC
Lansing Va One LLC
Warranty Deed
—
Jan 16, 2020
—
Lansing Va One LLC
—
Deed
related
$12,500,000 · Federal Fndg
Jan 3, 2020
—
Lansing Va One LLC
Darken LLC
Warranty Deed
—
Nov 25, 2019
$785,000
Darkon LLC
5656 Cedar LLC
Grant Deed
—
Jan 16, 2019
—
Darkon LLC
5656 Cedar LLC
Quit Claim Deed
related
—
Apr 6, 2016
$220,000
5656 Cedar LLC
Cedar IV LLC
Warranty Deed
—
Sep 19, 2008
—
Cedar IV LLC
Jwj Co LLC
Warranty Deed
$5,000,000 · Michigan Heritage Bank
—
—
Lansing Va One LLC
—
Deed Of Trust
related
$12,500,000 · Federal Fndg
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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