Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$595,000
Strip malls
625 Waverly Rd 17 Lansing, MI 48917-3660
Entity Owned
Absentee Owner
Free & Clear
Property ID
US43-1750934
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1977
Total area
9,191 SF
Lot
1.44 ac (62,726 SF)
Zoning code
F COMME
APN
33-21-01-18-351-032
UPID
US43-1750934
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
-
Boost Mobile Mobile Phone Store Electronics & Wireless Store
-
Lansing Sneaker Spa (Bike/Boat/Book/etc) Store
-
JETTA EXPRESS Clothing Store Shopping Mall
-
C & O Discount Tobacco (Bike/Boat/Book/etc) Store
-
Tálogué Nail Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$480k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$733k
Blend (final)
Blend
$595k
Owner & transaction history
CCPL REAL EST GROUP LLC
CCPL REAL EST GROUP LLC
Zoning & alternative use
F COMME · Lansing, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
code of ordinances
Top alternative use upside
Restaurant
$800,000
+36.0%
Auto repair, garage
$785,000
+33.0%
Medical building
$780,000
+32.5%
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
$480,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$590,000
Current use
RESTAURANT
$800,000
Change: +36% · Conversion: Difficult
AUTO REPAIR, GARAGE
$785,000
Change: +33% · Conversion: Difficult
MEDICAL BUILDING
$780,000
Change: +33% · Conversion: Difficult
RETAIL STORES
$655,000
Change: +11% · Conversion: Easy
INDUSTRIAL (GENERAL)
$575,000
Change: -2% · Conversion: Difficult
WAREHOUSE, STORAGE
$535,000
Change: -9% · Conversion: Difficult
Blend value · Realmo final
$595k
Range $536k – $655k · ±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
$65 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$28,092
Tax year 2022
Assessed value
$379,000
Assessed 2023
Previous assessed
$347,700
+9.0% YoY
Effective rate
7.41%
On assessed value
Assessed land
$70,700
Assessed improvement
$308,300
Land market value
$141,400
Improvement market value
$616,600
Total market value
$758,000
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
1977
Heating
FORCED AIR
Buildings
3
Stories
1
Total area
9,191 SF
Lot
1.44 ac (62,726 SF)
Zoning code
F COMME
APN
33-21-01-18-351-032
UPID
US43-1750934
Jurisdiction
INGHAM
Zoning & alternative use
F COMME · Lansing, MIZoning F COMME · permitted uses
F COMME · Lansing, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
code of ordinances
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$590,000
RESTAURANT
Est. value
$800,000
AUTO REPAIR, GARAGE
Est. value
$785,000
MEDICAL BUILDING
Est. value
$780,000
RETAIL STORES
Est. value
$655,000
INDUSTRIAL (GENERAL)
Est. value
$575,000
WAREHOUSE, STORAGE
Est. value
$535,000
NEIGHBORHOOD: SHOPPING CENTER Current
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RETAIL STORES
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
1977
Heating
FORCED AIR
Stories
1
Buildings
3
Lot
1.44 ac
Current owner
From public records · entity-resolved
CCPL REAL EST GROUP LLC
Entity
Free & Clear · 0 yrs held
Mailing address
11455 UPTON RD, GRAND LEDGE, MI 48837-9187
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 625 Waverly Rd, Unit 17?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
