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    Property profile & analytics

    611 Cesar E Chavez Ave Lansing, MI 48906-5339

    • Turn key restaurants
    • 2,206 SF
    • 1.06 lot acres
    OFF-MARKET
    Value Estimations
    $315,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-3782178
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Turn key restaurants

    Property Details for 611 Cesar E Chavez Ave

    Year built
    1970
    Lot size
    1.06 lot acres
    Property size
    2,206 SF
    Zone code
    I HVY
    Property type
    Turn key restaurants
    APN
    33-01-01-09-281-163
    APU
    33010109281163

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $320,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $260,000
      Market price range: $120k - $261k
      AI Estimate
      $349,000
      Market price range: $155k - $350k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Lansing
    County
    Ingham
    State
    Michigan
    Longitude
    -84.5441
    Latitude
    42.7479
    CBSA code
    29620
    CBSA name
    LANSING-EAST LANSING, MI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $16,839
    $69,300
    $190,100
    $259,400
    -
    $138,600
    $380,200
    $518,800

    Comparable in this City

    • Value Estimation
      $250,000
      1,587 SF

      518 Cesar E Chavez Ave, Unit 3

      RESTAURANT • 1,587 SF
      518 Cesar E Chavez Ave, Lansing, MI 48906
      View Details
    • Value Estimation
      $245,000
      1,700 SF

      2622 St

      RESTAURANT • 1,700 SF
      2622 St, Lansing, MI 48906-3323
      View Details
    • Value Estimation
      $265,000
      3,705 SF

      5000 Grand Riv Ave

      RESTAURANT • 3,705 SF
      5000 Grand Riv Ave, Lansing, MI 48906-2436
      View Details
    • Value Estimation
      $285,000
      1,210 SF

      2015 Larch St

      RESTAURANT • 1,210 SF
      2015 Larch St, Lansing, MI 48906-4114
      View Details
    • Value Estimation
      $190,000
      2,612 SF

      600 Thomas St

      RESTAURANT • 2,612 SF
      600 Thomas St, Lansing, MI 48906-4150
      View Details
    • Value Estimation
      $265,000
      9,631 SF

      16460 Us Hwy 27

      RESTAURANT • 9,631 SF
      16460 Us Hwy 27, Lansing, MI 48906-5631
      View Details

    Similar Nearby for Sale

    • $399,000
      Pending

      Established Diner in Lansing, MI

      Remodeled diner with parking and a three-car garage.
      516 E Grand River Ave, Lansing, MI 48906
      View Details
    • $399,000

      Established Restaurant in NW Lansing

      Long-standing restaurant available for sale in Northwest Lansing.
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    • $450,000
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      Lansing Restaurant & Bar for Sale

      Established eatery, prime location, high potential.
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    • $160,000
      2,705 SF

      Lansing Retail/Office Opportunity

      Retail or office space in prime Lansing location for sale.
      1701 Turner Rd, Lansing, MI 48906
      View Details
    • $859,950
      4,578 SF

      Lansing Commercial Redevelopment Opportunity

      1.81-acre QSR site, vacant, high visibility.
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    • $199,500
      2,557 SF

      Versatile Commercial Property in Lansing

      2,557 SF building on 0.558 acres, high-traffic location.
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    Similar Nearby for Lease

    • $20 SF/Yr
      28,380 SF

      Lansing Old Town Retail Space

      Historic building, prime location, 909 sq ft.
      502 César E Chávez Ave, Lansing, MI 48906
      View Details
    • $30 SF/Yr
      1,547 SF

      Retail Space Near Michigan State

      Retail space in mixed-use building near Michigan State University.
      918 E Grand River Ave E, Lansing, MI 48906
      View Details
    • $15 SF/Yr
      2,000 SF

      Downtown Lansing Bar - Turnkey Opportunity

      Historic Old Town, Established Bar, 2000 sq ft
      327 César E Chávez Ave, Lansing, MI 48906
      View Details
    • $19 SF/Yr
      12,981 SF

      Lansing Office Space - Prime Location

      12,981 SF Office/Retail, Two Buildings
      1213 Center St, Lansing, MI 48906
      View Details
    • $1,729,000

      Collision Right Repair Center

      Leased auto repair shop with corporate guarantee in Lansing, MI.
      3303 North St East, Lansing, MI 48906
      View Details
    • $15 SF/Yr
      11,500 SF

      Customizable Retail Space For Lease

      In-line retail space with upgraded facade and improved parking.
      2000 N Larch St, Lansing, MI 48906
      View Details
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    Lansing, MI 48906-5339
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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