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Property profile & analytics
OFF-MARKET
Estimated value
$1,230,000
Community centers
6030 Pennsylvania Ave, Lansing, MI 48911-5283
Entity Owned
9-yr Hold
Free & Clear
Property ID
US43-1194217
Property summary
AI-generated overview
Penn-Miller Plaza, located at 6030 S Pennsylvania Ave in Lansing, Michigan (zip code 48911), offers exceptional retail and restaurant opportunities. This commercial property boasts a total of 27,000 square feet, currently featuring one building with multiple suites. There are 5,900 square feet of vacant space available, divisible into units ranging from a minimum of 1,400 square feet to a maximum contiguous space of 2,800 square feet. The property is zoned for commercial use and is situated in Ingham County. Its prime location at a high-traffic intersection just north of I-96 provides excellent visibility and accessibility. The area is densely populated with numerous established businesses, including major retailers such as Meijer and Target, along with popular restaurants like Biggby, Culver's, and Panera Bread, ensuring high foot traffic and a strong customer base. This presents a unique chance for businesses seeking a vibrant and convenient location in a thriving Lansing commercial district. The property is ideal for a variety of retail or restaurant concepts seeking spaces ranging from 1,400 to 2,800 square feet. Inquire today to learn more about this exciting opportunity.
Property profile
Verified
Property type
Community centers
Use group
MINI-MALL
Year built
1989
Total area
32,011 SF
Lot
2.28 ac (99,447 SF)
Zoning code
F COMM
APN
33-01-05-03-352-463
UPID
US43-1194217
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
-
Penn Mill Plaza Liquor (Bike/Boat/Book/etc) Store Wine and Liquor Store
-
ATAX Accounting Firm Tax Preparation
-
Advance America Loan Service
-
Western Union Bank Credit Union
-
Falafel Time Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.33M
Blend (final)
Blend
$1.23M
Owner & transaction history
Rural INC · 9 yrs held
Rural INC
since 2016
3 recorded transactions
Zoning & alternative use
F COMM · 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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$2,010,000
Change: -2% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,860,000
Change: -9% · Conversion: Difficult
Blend value · Realmo final
$1.23M
Range $1.11M – $1.35M · ±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
$38 / 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 2020Property tax & assessments
Tax year 2020
Tax billed
$61,459
Tax year 2020
Assessed value
$895,200
Assessed 2023
Previous assessed
$872,300
+2.6% YoY
Effective rate
6.87%
On assessed value
Assessed land
$186,100
Assessed improvement
$709,100
Land market value
$372,200
Improvement market value
$1,418,200
Total market value
$1,790,400
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
Community centers
Use group
MINI-MALL
Status
Off-Market
Year built
1989
Heating
YES
Stories
1
Total area
32,011 SF
Lot
2.28 ac (99,447 SF)
Zoning code
F COMM
APN
33-01-05-03-352-463
UPID
US43-1194217
Jurisdiction
INGHAM
Zoning & alternative use
F COMM · Lansing, MI
Zoning F COMM · permitted uses
F COMM · 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
INDUSTRIAL (GENERAL)
Est. value
$2.0M
WAREHOUSE, STORAGE
Est. value
$1.9M
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
1989
Heating
YES
Stories
1
Lot
2.28 ac
Current owner
From public records · entity-resolved
Rural INC
Entity
Free & Clear · 9 yrs held
Mailing address
594 COLUMBIA AVE W, BATTLE CREEK, MI 49015-3182
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 19, 2016
$2,200,000
Rural INC
Lansing Plaza LLC
Warranty Deed
—
Sep 1, 2006
—
Lansing Plaza LLC
Robart Associates Ltd
Warranty Deed
$2,100,000 · Mtl Insurance Co
—
—
Rural INC
—
Deed Of Trust
related
$1,430,000 · Michigan First Cu
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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