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Property profile & analytics
OFF-MARKET
Retail residential properties
601 Michigan Ave Lansing, MI 48912-1152
Individually Owned
1-yr Hold
Free & Clear
Property ID
US43-0715802
Property profile
Verified
Property type
Retail residential properties
Use group
STORES & APARTMENTS
Year built
1907
Total area
5,269 SF
Lot
0.06 ac (2,788 SF)
Zoning code
G-1 BUS
APN
33-01-01-16-277-171
UPID
US43-0715802
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Catherine Ann Rathbun · 1 yrs held
Catherine Ann Rathbun
since 2025
Last sale
$318,999
4 recorded transactions
Zoning & alternative use
G-1 BUS · 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
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 2020Property tax & assessments
Tax year 2020
Tax billed
$12,316
Tax year 2020
Assessed value
$249,400
Assessed 2023
Previous assessed
$196,400
+27.0% YoY
Effective rate
4.94%
On assessed value
Assessed land
$11,700
Assessed improvement
$237,700
Land market value
$23,400
Improvement market value
$475,400
Total market value
$498,800
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 residential properties
Use group
STORES & APARTMENTS
Status
Off-Market
Year built
1907
Heating
YES
Stories
2
Bathrooms
1
Total area
5,269 SF
Lot
0.06 ac (2,788 SF)
Zoning code
G-1 BUS
APN
33-01-01-16-277-171
UPID
US43-0715802
Jurisdiction
INGHAM
Zoning & alternative use
G-1 BUS · Lansing, MI
Zoning G-1 BUS · permitted uses
G-1 BUS · 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.
Building & site characteristics
From public records
Year built
1907
Heating
YES
Stories
2
Bathrooms
1
Lot
0.06 ac
Current owner
From public records · entity-resolved
Catherine Ann Rathbun
Individual
Free & Clear · 1 yrs held
Mailing address
601 E MICHIGAN AVE, LANSING, MI 48912-1152
Mailing matches property
Yes
Owner-occupied
Yes
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 14, 2025
—
Catherine Ann Rathbun
Catherine Ann Rathbun
Deed
related
—
Jun 1, 2021
—
Eugene Paul Rathbun JR
Eugene Paul Rathbun JR
Intrafamily Transfer
related
$226,000 · Michigan State University FCU
May 30, 2017
$318,999
Eugene Paul Rathbun JR
Excellent 601 Property LLC
Warranty Deed
$255,199 · Michigan State University FCU
Nov 16, 2010
$500,000
Excellent 601 Property LLC
Quest 5 Ltd
Warranty Deed
$292,500 · Lansing Automakers FCU
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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