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Property profile & analytics
OFF-MARKET
Estimated value
$2,150,000
Retail residential properties
639 Grand Riv Ave6-7, East Lansing, MI 48823-4405
Entity Owned
Absentee Owner
Free & Clear
Property ID
US43-1431489
Property profile
Verified
Property type
Retail residential properties
Use group
STORES & APARTMENTS
Year built
1998
Total area
17,280 SF
Lot
0.5 ac (21,780 SF)
Zoning code
B3
APN
33-20-02-18-172-005
UPID
US43-1431489
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
-
Chase Mortgage Loan Service Bank
-
Chase ATM Atm
-
Chase Bank Bank Loan Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.63M
Comparable Approach
Comparable
$2.05M
Blend (final)
Blend
$2.15M
Owner & transaction history
STONEHOUSE VILLAGE IV LLC
STONEHOUSE VILLAGE IV LLC
Zoning & alternative use
B3 · East Lansing, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$2.1M
+7.9%
Restaurant
$2.0M
+2.1%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$2,850,000
6.5%
$2,630,000
7%
$2,445,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,975,000
Current use
MEDICAL BUILDING
$2,130,000
Change: +8% · Conversion: Easy
RESTAURANT
$2,015,000
Change: +2% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,740,000
Change: -12% · Conversion: Difficult
OFFICE BUILDING
$1,710,000
Change: -13% · Conversion: Easy
Blend value · Realmo final
$2.15M
Range $1.94M – $2.37M · ±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
$124 / 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
$51,577
Tax year 2019
Assessed value
$899,100
Assessed 2023
Previous assessed
$823,700
+9.2% YoY
Effective rate
5.74%
On assessed value
Assessed land
$653,400
Assessed improvement
$245,700
Land market value
$1,306,800
Improvement market value
$491,400
Total market value
$1,798,200
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
Retail residential properties
Use group
STORES & APARTMENTS
Status
Off-Market
Year built
1998
Heating
YES
Cooling
AC.PACKAGE
Stories
3
Total area
17,280 SF
Lot
0.5 ac (21,780 SF)
Zoning code
B3
APN
33-20-02-18-172-005
UPID
US43-1431489
Jurisdiction
INGHAM
Zoning & alternative use
B3 · East Lansing, MI
Zoning B3 · permitted uses
B3 · 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
COMMERCIAL (GENERAL) Current
Est. value
$2.0M
MEDICAL BUILDING
Est. value
$2.1M
RESTAURANT
Est. value
$2.0M
AUTO REPAIR, GARAGE
Est. value
$1.7M
OFFICE BUILDING
Est. value
$1.7M
COMMERCIAL (GENERAL) Current
MEDICAL BUILDING
RESTAURANT
AUTO REPAIR, GARAGE
OFFICE BUILDING
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
1998
Heating
YES
Cooling
Yes
Stories
3
Lot
0.5 ac
Current owner
From public records · entity-resolved
STONEHOUSE VILLAGE IV LLC
Entity
Free & Clear · 0 yrs held
Mailing address
117 CTR ST, EAST LANSING, MI 48823-4251
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.
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