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Property profile & analytics
OFF-MARKET
Estimated value
$420,000
Retail space
737 Grand Ave Ste 1 Lansing, MI 48906-5160
Entity Owned
13-yr Hold
~
Est. High Equity
Property ID
US43-1643436
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1967
Total area
11,628 SF
Lot
0.75 ac (32,714 SF)
Zoning code
F-1 COM
APN
33-01-01-09-453-104
UPID
US43-1643436
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$752k
Blend (final)
Blend
$420k
Owner & transaction history
Grand Avenue Plaza LLC · 13 yrs held
Grand Avenue Plaza LLC
since 2013
6 recorded transactions
Zoning & alternative use
F-1 COM · Lansing, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
code of ordinances
Top alternative use upside
Restaurant
$1.0M
+51.8%
Auto repair, garage
$990,000
+48.5%
Medical building
$990,000
+48.0%
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
$670,000
Current use
RESTAURANT
$1,015,000
Change: +52% · Conversion: Easy
AUTO REPAIR, GARAGE
$990,000
Change: +48% · Conversion: Difficult
MEDICAL BUILDING
$990,000
Change: +48% · Conversion: Difficult
OFFICE BUILDING
$980,000
Change: +46% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$745,000
Change: +12% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$730,000
Change: +9% · Conversion: Difficult
WAREHOUSE, STORAGE
$650,000
Change: -3% · Conversion: Difficult
Blend value · Realmo final
$420k
Range $378k – $462k · ±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
$36 / 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 2020Property tax & assessments
Tax year 2020
Tax billed
$24,888
Tax year 2020
Assessed value
$419,600
Assessed 2023
Previous assessed
$394,000
+6.5% YoY
Effective rate
5.93%
On assessed value
Assessed land
$81,700
Assessed improvement
$337,900
Land market value
$163,400
Improvement market value
$675,800
Total market value
$839,200
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 space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1967
Heating
YES
Stories
2
Total area
11,628 SF
Lot
0.75 ac (32,714 SF)
Zoning code
F-1 COM
APN
33-01-01-09-453-104
UPID
US43-1643436
Jurisdiction
INGHAM
Zoning & alternative use
F-1 COM · Lansing, MIZoning F-1 COM · permitted uses
F-1 COM · 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
$670,000
RESTAURANT
Est. value
$1.0M
AUTO REPAIR, GARAGE
Est. value
$990,000
MEDICAL BUILDING
Est. value
$990,000
OFFICE BUILDING
Est. value
$980,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$745,000
INDUSTRIAL (GENERAL)
Est. value
$730,000
WAREHOUSE, STORAGE
Est. value
$650,000
RETAIL STORES Current
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
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
1967
Heating
YES
Stories
2
Lot
0.75 ac
Current owner
From public records · entity-resolved
Grand Avenue Plaza LLC
Entity
Mailing address
737 N GRAND AVE, LANSING, MI 48906-5160
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 6, 2013
$1,000,000
Grand Avenue Plaza LLC
Apothecary Medical Center LLC
Warranty Deed
$570,000 · Mercantile Bank Of Michigan
Jun 6, 2013
—
Apothecary Medical Center LLC
Nakhleh,emile & Evelyn
Warranty Deed
—
May 5, 2006
—
Grand Avenue Plaza LLC
Apothecary Medical Center LLC
Grant Deed
—
—
—
Grand Avenue Plaza LLC
—
Deed Of Trust
related
$100,000 · Mercantile Bk/mi
—
—
Grand Avenue Plaza LLC
—
Deed Of Trust
related
$250,000 · Mercantile Bk/mi
—
—
Grand Avenue Plaza LLC
—
Deed Of Trust
related
$240,000 · Mercantile Bk/mi
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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