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Property profile & analytics
OFF-MARKET
Estimated value
$1,760,000
Grocery and convenience stores
644 Migaldi Ln Lansing, MI 48917-7750
Entity Owned
3-yr Hold
Free & Clear
Property ID
US43-2442766
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
2002
Total area
21,619 SF
Lot
3.84 ac (167,053 SF)
Zoning code
C
APN
040 016 100 013 00
UPID
US43-2442766
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
-
Slice by Saddleback - West Lansing Restaurant
-
Farrokh Rahnemoon Pediatrician Medical Clinic
-
Molly Sweet, LAc Alternative Medicine Practice Acupuncture
-
Level Up Smoke Shop (Bike/Boat/Book/etc) Store
-
Slice by Saddleback Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.61M
Blend (final)
Blend
$1.76M
Owner & transaction history
Jb Real Estate Holding LLC · 3 yrs held
Jb Real Estate Holding LLC
since 2023
1 recorded transaction
Zoning & alternative use
C · Lansing, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
code of ordinances
Top alternative use upside
Office building
$2.7M
+73.6%
Restaurant
$1.9M
+22.2%
Auto repair, garage
$1.8M
+19.5%
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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$1,545,000
Current use
OFFICE BUILDING
$2,680,000
Change: +74% · Conversion: Easy
RESTAURANT
$1,885,000
Change: +22% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,845,000
Change: +19% · Conversion: Difficult
MEDICAL BUILDING
$1,840,000
Change: +19% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,255,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$1.76M
Range $1.58M – $1.94M · ±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
$81 / 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 2023Property tax & assessments
Tax year 2023
Assessed value
$1,031,600
Assessed 2024
Total market value
$2,063,200
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
2002
Heating
FORCED AIR
Stories
1
Total area
21,619 SF
Lot
3.84 ac (167,053 SF)
Zoning code
C
APN
040 016 100 013 00
UPID
US43-2442766
Jurisdiction
EATON
Zoning & alternative use
C · Lansing, MIZoning C · permitted uses
C · 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
RETAIL STORES Current
Est. value
$1.5M
OFFICE BUILDING
Est. value
$2.7M
RESTAURANT
Est. value
$1.9M
AUTO REPAIR, GARAGE
Est. value
$1.8M
MEDICAL BUILDING
Est. value
$1.8M
WAREHOUSE, STORAGE
Est. value
$1.3M
RETAIL STORES Current
OFFICE BUILDING
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
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
2002
Heating
FORCED AIR
Stories
1
Lot
3.84 ac
Current owner
From public records · entity-resolved
Jb Real Estate Holding LLC
Entity
Free & Clear · 3 yrs held
Mailing address
316 E MICHIGAN AVE, LANSING, MI 48933-1419
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 9, 2023
—
Jb Real Estate Holding LLC
Lewis D Johns II
Warranty Deed
—
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
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