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Property profile & analytics
OFF-MARKET
Estimated value
$610,000
Strip malls
5924 Saginaw Hwy, Lansing, MI 48917-2461
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US43-2058698
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1984
Total area
9,802 SF
Lot
1.57 ac (68,389 SF)
Zoning code
NONE
APN
040 011 300 140 00
UPID
US43-2058698
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
-
KPOT Korean BBQ & Hot Pot Restaurant
-
The Vitamin Shoppe (Bike/Boat/Book/etc) Store Pharmacy
-
KPot Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$610k
Blend (final)
Blend
$610k
Owner & transaction history
Lansing Square LLC · 7 yrs held
Lansing Square LLC
since 2019
7 recorded transactions
Zoning & alternative use
NONE · Lansing, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$960,000
+98.6%
Commercial (general)
$860,000
+78.2%
Retail stores
$830,000
+71.6%
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
NEIGHBORHOOD: SHOPPING CENTER
$485,000
Current use
RESTAURANT
$960,000
Change: +99% · Conversion: Difficult
COMMERCIAL (GENERAL)
$860,000
Change: +78% · Conversion: Easy
RETAIL STORES
$830,000
Change: +72% · Conversion: Easy
MEDICAL BUILDING
$755,000
Change: +56% · Conversion: Difficult
AUTO REPAIR, GARAGE
$730,000
Change: +51% · Conversion: Difficult
Blend value · Realmo final
$610k
Range $549k – $671k · ±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
$62 / 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
$49,781
Tax year 2023
Assessed value
$857,600
Assessed 2024
Previous assessed
$815,100
+5.2% YoY
Effective rate
5.80%
On assessed value
Total market value
$1,715,200
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1984
Heating
FORCED AIR
Stories
1
Total area
9,802 SF
Lot
1.57 ac (68,389 SF)
Zoning code
NONE
APN
040 011 300 140 00
UPID
US43-2058698
Jurisdiction
EATON
Zoning & alternative use
NONE · Lansing, MI
Zoning NONE · permitted uses
NONE · 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 Current
Est. value
$485,000
RESTAURANT
Est. value
$960,000
COMMERCIAL (GENERAL)
Est. value
$860,000
RETAIL STORES
Est. value
$830,000
MEDICAL BUILDING
Est. value
$755,000
AUTO REPAIR, GARAGE
Est. value
$730,000
NEIGHBORHOOD: SHOPPING CENTER Current
RESTAURANT
COMMERCIAL (GENERAL)
RETAIL STORES
MEDICAL BUILDING
AUTO REPAIR, GARAGE
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
1984
Heating
FORCED AIR
Stories
1
Lot
1.57 ac
Current owner
From public records · entity-resolved
Lansing Square LLC
Entity
Mailing address
30600 NORTHWESTERN HWY STE #310, FARMINGTON HILLS, MI 48334-3171
Ownership since
2019
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 27, 2019
—
Lansing Square LLC
Gss Lansing LLC
Warranty Deed
$1,575,000 · Lake Trust Cu
Apr 29, 2014
—
Gss Lansing LLC
D3 Lansing LLC
Special Warranty Deed
$1,008,000 · Wells Fargo Bank NA
Sep 4, 2013
—
D3 Lansing LLC
Levine Investments Limited Partners
Special Warranty Deed
$1,675,000 · Pinnacle Bank
Aug 18, 2008
—
Leine Ivestments LP
Pivotal 650 California St LLC
Special Warranty Deed
—
Jun 21, 2007
—
Pivotal 650 California St LLC
Building Exchange Co
Special Warranty Deed
—
Jun 7, 2007
—
Building Exchange Co
Bv Development Tulsa LLC
Special Warranty Deed
$1,538,461 · Levine Investments LP
Sep 27, 2005
—
Bv Development Tulsa LLC
Os Realty INC
Special Warranty Deed
$1,040,000 · Bank Of Albuquerque NA
Jun 8, 2005
—
Os Realty INC
C C Restaurant Ltd-9
Warranty Deed
—
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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