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Property profile & analytics
OFF-MARKET
Estimated value
$750,000
Office buildings
701 Jolly Rd, Lansing, MI 48910-6610
Entity Owned
1-yr Hold
Free & Clear
Property ID
US43-1201564
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1990
Total area
13,254 SF
Lot
2.42 ac (105,241 SF)
Zoning code
J & D-1
APN
33-01-05-04-101-313
UPID
US43-1201564
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
-
Food Pantry Grocery & Convenience Store Food Market
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$925k
Blend (final)
Blend
$750k
Owner & transaction history
City Of Lansing · 1 yrs held
City Of Lansing
since 2025
Last sale
$680,000
1 recorded transaction
Zoning & alternative use
J & D-1 · Lansing, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.2M
+25.0%
Auto repair, garage
$1.1M
+22.2%
Medical building
$1.1M
+21.8%
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
$615,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$925,000
Current use
RESTAURANT
$1,155,000
Change: +25% · Conversion: Moderate
AUTO REPAIR, GARAGE
$1,130,000
Change: +22% · Conversion: Difficult
MEDICAL BUILDING
$1,125,000
Change: +22% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$850,000
Change: -8% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$830,000
Change: -10% · Conversion: Difficult
RETAIL STORES
$795,000
Change: -14% · Conversion: Moderate
WAREHOUSE, STORAGE
$770,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$750k
Range $675k – $825k · ±10% · vs last sale $680k (Jan 17 2025)
Last sale anchor
$680k
Jan 17 2025
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
$57 / 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
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1990
Heating
YES
Stories
2
Bathrooms
2
Total area
13,254 SF
Lot
2.42 ac (105,241 SF)
Zoning code
J & D-1
APN
33-01-05-04-101-313
UPID
US43-1201564
Jurisdiction
INGHAM
Zoning & alternative use
J & D-1 · Lansing, MI
Zoning J & D-1 · permitted uses
J & D-1 · 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
OFFICE BUILDING Current
Est. value
$925,000
RESTAURANT
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$1.1M
MEDICAL BUILDING
Est. value
$1.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$850,000
INDUSTRIAL (GENERAL)
Est. value
$830,000
RETAIL STORES
Est. value
$795,000
WAREHOUSE, STORAGE
Est. value
$770,000
OFFICE BUILDING Current
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
INDUSTRIAL (GENERAL)
RETAIL STORES
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
1990
Heating
YES
Stories
2
Bathrooms
2
Lot
2.42 ac
Current owner
From public records · entity-resolved
City Of Lansing
Entity
Free & Clear · 1 yrs held
Mailing address
525 N PENNSYLVANIA AVE, LANSING, MI 48912-1518
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
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
Jan 17, 2025
$680,000
City Of Lansing
The Salvatlon Army
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.
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