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Property profile & analytics
OFF-MARKET
Estimated value
$915,000
Office buildings
601 Abbot Rd Ste 5, East Lansing, MI 48823-3366
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US43-1138434
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1969
Total area
9,687 SF
Lot
0.6 ac (26,136 SF)
Zoning code
RM32
APN
33-20-01-13-217-001
UPID
US43-1138434
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$945k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$975k
Blend (final)
Blend
$915k
Owner & transaction history
246 Equities LLC · 5 yrs held
246 Equities LLC
since 2021
Last sale
$700,000
6 recorded transactions
Zoning & alternative use
RM32 · East Lansing, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$1.2M
+24.5%
Restaurant
$1.1M
+17.8%
Commercial (general)
$1.1M
+15.4%
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
Method
Estimation
Statistic approach
$910,000
ML approach
$945,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$960,000
Current use
MEDICAL BUILDING
$1,195,000
Change: +24% · Conversion: Easy
RESTAURANT
$1,130,000
Change: +18% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,105,000
Change: +15% · Conversion: Easy
AUTO REPAIR, GARAGE
$975,000
Change: +2% · Conversion: Difficult
RETAIL STORES
$770,000
Change: -20% · Conversion: Moderate
Blend value · Realmo final
$915k
Range $824k – $1.01M · ±10% · vs last sale $700k (Mar 12 2021)
Last sale anchor
$700k
Mar 12 2021
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
$94 / 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 2019Property tax & assessments
Tax year 2019
Tax billed
$26,507
Tax year 2019
Assessed value
$417,100
Assessed 2023
Previous assessed
$399,300
+4.5% YoY
Effective rate
6.36%
On assessed value
Assessed land
$104,500
Assessed improvement
$312,600
Land market value
$209,000
Improvement market value
$625,200
Total market value
$834,200
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1969
Heating
YES
Cooling
AC.PACKAGE
Stories
3
Total area
9,687 SF
Lot
0.6 ac (26,136 SF)
Zoning code
RM32
APN
33-20-01-13-217-001
UPID
US43-1138434
Jurisdiction
INGHAM
Zoning & alternative use
RM32 · East Lansing, MI
Zoning RM32 · permitted uses
RM32 · 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.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$960,000
MEDICAL BUILDING
Est. value
$1.2M
RESTAURANT
Est. value
$1.1M
COMMERCIAL (GENERAL)
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$975,000
RETAIL STORES
Est. value
$770,000
OFFICE BUILDING Current
MEDICAL BUILDING
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
1969
Heating
YES
Cooling
Yes
Stories
3
Lot
0.6 ac
Current owner
From public records · entity-resolved
246 Equities LLC
Entity
Mailing address
246 E SAGINAW ST, EAST LANSING, MI 48823-2762
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 12, 2021
$700,000
246 Equities LLC
Woodland Pass Equity Company
Warranty Deed
—
May 12, 2017
—
Woodland Pass Equity Co
—
Deed
related
$42,500 · Fifth Third Bancorp
—
—
Woodland Pass Equity Co
—
Deed Of Trust
related
$75,000 · Standard Federal Bank
—
—
Woodland Pass Equity Co
—
Loan Modification
related
$250,000 · Lasalle Bank Midwest NA
—
—
Woodland Pass Equity Co
—
Deed Of Trust
related
$42,500 · Fifth Third Bancorp
—
—
Woodland Pass Equity Co
—
Deed Of Trust
related
$240,000 · Fifth Third Bank
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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