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Property profile & analytics
OFF-MARKET
Turn key restaurants
5900 Park Lk Rd, East Lansing, MI 48823-9787
Entity Owned
13-yr Hold
~
Est. High Equity
Property ID
US43-5162307
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1979
Total area
8,628 SF
Lot
1.82 ac (79,453 SF)
Zoning code
C-2
APN
33-02-02-08-276-003
UPID
US43-5162307
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
-
Fiesta Charra Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Jij Properties LLC · 13 yrs held
Jij Properties LLC
since 2012
7 recorded transactions
Zoning & alternative use
C-2 · 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$14,558
Tax year 2019
Assessed value
$281,800
Assessed 2023
Previous assessed
$248,700
+13.3% YoY
Effective rate
5.17%
On assessed value
Assessed land
$122,400
Assessed improvement
$159,400
Land market value
$244,800
Improvement market value
$318,800
Total market value
$563,600
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1979
Heating
YES
Stories
1
Total area
8,628 SF
Lot
1.82 ac (79,453 SF)
Zoning code
C-2
APN
33-02-02-08-276-003
UPID
US43-5162307
Jurisdiction
INGHAM
Zoning & alternative use
C-2 · East Lansing, MI
Zoning C-2 · permitted uses
C-2 · 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
1979
Heating
YES
Stories
1
Lot
1.82 ac
Current owner
From public records · entity-resolved
Jij Properties LLC
Entity
Mailing address
5900 PARK LK RD, EAST LANSING, MI 48823-9787
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 2, 2023
—
Jij Properties LLC
—
Deed
related
$267,750 · Commercial Bank
Oct 15, 2019
—
Jij Properties LLC
—
Grant Deed
related
$1,401,221 · Commercial Bk
Aug 1, 2017
—
Jij Properties LLC
—
Deed
related
—
Jul 27, 2012
$395,000
Jij Properties LLC
Mason St Bk
Grant Deed
$395,000 · Mason State Bank
Apr 2, 2009
$150,000
Signature Property LLC
Sheriff Of Ingham County
Trustees Deed
related
—
Jan 7, 2009
$100,000
Thornburg Equity Group LLC
Api Park Lake Properties LLC
Warranty Deed
related
—
Dec 9, 2008
$736,507
Mason St. Bk
Sheriff Of Ingham County
Trustees Deed
related
—
Sep 6, 2006
$950,000
Api Park Lake Properties LLC
Signature Property LLC
Warranty Deed
$725,000 · Mason State Bank
Nov 14, 2005
—
Api Park Lane Properties LLC
Signature Property LLC
Grant Deed
—
—
—
Signature Property LLC
—
Deed Of Trust
related
$657,237 · Standard Federal Bank
—
—
Jij Properties LLC
—
Loan Modification
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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