Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    Evergreen Ave East Lansing, MI 48823

    • Commercial land
    • 0.02 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-4300320
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial land

    Property Details for Evergreen Ave

    Lot size
    0.02 lot acres
    Property type
    Commercial land
    APN
    33-20-01-13-228-016
    APU
    33200113228016

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    East Lansing
    County
    Ingham
    State
    Michigan
    Longitude
    -84.4752
    Latitude
    42.7456
    CBSA code
    29620
    CBSA name
    LANSING-EAST LANSING, MI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $0.00
    $0.00
    $0.00
    $0.00
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      1.30 Acres

      Landlocked 69th Landlocked I-69

      VACANT COMMERCIAL LAND • 1.30 Acres
      Landlocked 69th Landlocked I-69, East Lansing, MI 48823
      View Details
    • Value Estimation by Request
      0.05 Acres

      2540 Saginaw Hwy

      VACANT COMMERCIAL LAND • 0.05 Acres
      2540 Saginaw Hwy, East Lansing, MI 48823-9719
      View Details
    • Value Estimation by Request
      0.30 Acres

      2520 Saginaw Hwy

      VACANT COMMERCIAL LAND • 0.30 Acres
      2520 Saginaw Hwy, East Lansing, MI 48823-9719
      View Details
    • Value Estimation by Request
      0.11 Acres

      E

      VACANT COMMERCIAL LAND • 0.11 Acres
      E, Lansing, MI 48823
      View Details
    • Value Estimation by Request
      0.27 Acres

      E

      VACANT COMMERCIAL LAND • 0.27 Acres
      E, Lansing, MI 48823
      View Details
    • Value Estimation by Request
      0.16 Acres

      1307 Grand Riv Ave

      VACANT COMMERCIAL LAND • 498 SF
      1307 Grand Riv Ave, East Lansing, MI 48823-4913
      View Details

    Similar Nearby for Sale

    • $550,000

      Prime Retail Land Near Costco

      2-acre vacant land parcel near East Lansing Costco.
      Haslett Rd, East Lansing, MI 48823
      View Details
    • $2,500,000
      13,000 SF

      Land Near Michigan State University

      5.7 acres available for development near Michigan State University.
      4578-4606 Hagadorn Rd, East Lansing, MI 48823
      View Details
    • $299,000

      7.1 Acre Development Site

      Cleared 7.1 acre site ready for multi-family development.
      East State Rd, East Lansing, MI 48823
      View Details
    • Contact for pricing

      East Lansing Buildable Land

      Buildable land for sale in East Lansing on Abbot Road.
      2005 Abbot Rd, East Lansing, MI 48823
      View Details
    • $4,435,000
      1.08 Acres

      East Lansing Development Opportunity

      Prime 1.08-acre site near MSU
      314 Evergreen Ave, East Lansing, MI 48823
      View Details
    • $738,000

      East Lansing Development Land For Sale

      14.76-acre development land with frontage on three roads and a pond.
      5945 Park Lake Rd, East Lansing, MI 48823
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      129,373 SF

      East Lansing Commercial Land - 2.97 Acres

      Prime East Lansing land, B-2 zoning, high visibility.
      2040 Merritt Rd, East Lansing, MI 48823
      View Details
    • Contact for pricing
      48,477 SF

      Trowbridge Village: Retail & Office Space

      Prime Lansing Location: Multiple Suites Available
      940 Trowbridge Rd, East Lansing, MI 48823
      View Details
    • $35 SF/Yr
      2,930 SF

      Abbot Road Executive Office Space

      Prime East Lansing Office Suite, MSU Views
      100 Grand River Ave, East Lansing, MI 48823
      View Details
    • $21 SF/Yr
      57,040 SF

      Abbott Center I

      Office space • 57,040 SF
      1400 Abbot Rd, East Lansing, MI 48823
      View Details
    • $20 SF/Yr
      21,000 SF

      East Lansing Executive Office Space

      Class A Office Suites Available Now
      2911 Eyde Pkwy, East Lansing, MI 48823
      View Details
    • $14 SF/Yr
      17,904 SF

      Hannah Plaza: East Lansing Retail

      Prime East Lansing retail space, multiple suites available.
      4750 Hagadorn Rd, East Lansing, MI 48823
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Evergreen Ave
    East Lansing, MI 48823
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.