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Property profile & analytics
OFF-MARKET
Estimated value
$625,000
Retail space
5815 Pennsylvania Ave Lansing, MI 48911-5230
Entity Owned
10-yr Hold
~
Est. High Equity
Property ID
US43-1633966
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1985
Total area
15,290 SF
Lot
1.28 ac (55,757 SF)
Zoning code
J & H
APN
33-01-05-03-376-007
UPID
US43-1633966
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
-
Pure Options Weed Dispensary Lansing South (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$425k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$743k
Blend (final)
Blend
$625k
Owner & transaction history
Rr Holdings 1 LLC · 10 yrs held
Rr Holdings 1 LLC
since 2016
5 recorded transactions
Zoning & alternative use
J & H · 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
$425,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$980,000
Change: -10% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$960,000
Change: -12% · Conversion: Difficult
WAREHOUSE, STORAGE
$890,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$625k
Range $563k – $688k · ±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
$41 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$25,173
Tax year 2023
Assessed value
$436,400
Assessed 2024
Previous assessed
$436,400
+0.0% YoY
Effective rate
5.77%
On assessed value
Assessed land
$96,600
Assessed improvement
$339,800
Land market value
$193,200
Improvement market value
$679,600
Total market value
$872,800
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
1985
Heating
YES
Stories
1
Total area
15,290 SF
Lot
1.28 ac (55,757 SF)
Zoning code
J & H
APN
33-01-05-03-376-007
UPID
US43-1633966
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
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$980,000
INDUSTRIAL (GENERAL)
Est. value
$960,000
WAREHOUSE, STORAGE
Est. value
$890,000
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
1985
Heating
YES
Stories
1
Lot
1.28 ac
Current owner
From public records · entity-resolved
Rr Holdings 1 LLC
Entity
Mailing address
5815 S PENNSYLVANIA AVE, LANSING, MI 48911-5230
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 14, 2016
$535,000
Rr Holdings 1 LLC
Wlaj-tv LLC
Warranty Deed
—
Mar 18, 2013
$749,352
Wlaj-tv LLC
Sinclair Communications LLC
Grant Deed
—
Apr 16, 2012
$1,300,000
Sinclair Communications LLC
Freedom Broadcasting Of Mi INC
Grant Deed
—
May 27, 2004
—
Freedom Broadcasting Of Michigan
—
Deed Of Trust
related
$1,100,000,000 · J P Morgan Chase Bank
—
—
Freedom Broadcasting Of Mi INC
—
Deed Of Trust
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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