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Property profile & analytics
OFF-MARKET
Estimated value
$4,185,000
Retail space
7420 Saginaw Hwy Lansing, MI 48917-1104
Entity Owned
15-yr Hold
Free & Clear
Property ID
US43-2073529
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1952
Total area
67,837 SF
Lot
6.7 ac (291,852 SF)
Zoning code
NONE
APN
040 010 300 050 00
UPID
US43-2073529
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
-
Iorio Gelato @ Horrocks Grocery & Convenience Store Specialty Food Shop
-
Horrocks Pizzeria Restaurant
-
Eato Chef Restaurant
-
Horrocks Farm Market Food Market Specialty Food Shop
-
Horrocks Tavern Nightclub Music Venue
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.83M
Blend (final)
Blend
$4.19M
Owner & transaction history
Michigan Department Of Transporatio · 15 yrs held
Michigan Department Of Transporatio
since 2010
1 recorded transaction
Zoning & alternative use
NONE · Lansing, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$5.9M
+22.2%
Auto repair, garage
$5.8M
+19.5%
Medical building
$5.8M
+19.1%
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 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
$4,845,000
Current use
RESTAURANT
$5,920,000
Change: +22% · Conversion: Easy
AUTO REPAIR, GARAGE
$5,790,000
Change: +19% · Conversion: Difficult
MEDICAL BUILDING
$5,770,000
Change: +19% · Conversion: Difficult
WAREHOUSE, STORAGE
$3,945,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$4.19M
Range $3.77M – $4.60M · ±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
$62 / 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
Tax billed
$129,536
Tax year 2023
Assessed value
$2,451,000
Assessed 2024
Previous assessed
$2,297,900
+6.7% YoY
Effective rate
5.29%
On assessed value
Total market value
$4,902,000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1952
Heating
FORCED AIR
Stories
1
Total area
67,837 SF
Lot
6.7 ac (291,852 SF)
Zoning code
NONE
APN
040 010 300 050 00
UPID
US43-2073529
Jurisdiction
EATON
Zoning & alternative use
NONE · Lansing, MI
Zoning NONE · permitted uses
NONE · 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
RETAIL STORES Current
Est. value
$4.8M
RESTAURANT
Est. value
$5.9M
AUTO REPAIR, GARAGE
Est. value
$5.8M
MEDICAL BUILDING
Est. value
$5.8M
WAREHOUSE, STORAGE
Est. value
$3.9M
RETAIL STORES Current
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
1952
Heating
FORCED AIR
Stories
1
Lot
6.7 ac
Current owner
From public records · entity-resolved
Michigan Department Of Transporatio
Entity
Free & Clear · 15 yrs held
Mailing address
7420 W SAGINAW HWY, LANSING, MI 48917-1104
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2010
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
Aug 20, 2010
—
Michigan Department Of Transporatio
Horrocks Farm Market INC
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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