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Property profile & analytics
OFF-MARKET
Estimated value
$970,000
Warehouses
2215 Apollo Dr 18 Lansing, MI 48906-2704
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US43-0131742
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1975
Total area
14,900 SF
Lot
0.95 ac (41,426 SF)
Zoning code
H LT IN
APN
33-01-01-05-103-011
UPID
US43-0131742
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
-
Midwest Air Filter Big Box & Wholesale Store
-
Air Defense Big Box & Wholesale Store
-
Sahr Building Supply, Inc Building Supply Industrial Manufacturer
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$965k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$815k
Blend (final)
Blend
$970k
Owner & transaction history
Accord Management LLC · 5 yrs held
Accord Management LLC
since 2021
Last sale
$975,000
2 recorded transactions
Zoning & alternative use
H LT IN · Lansing, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.3M
+56.6%
Auto repair, garage
$1.3M
+53.1%
Medical building
$1.3M
+52.6%
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
$970,000
ML approach
$965,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$830,000
Current use
RESTAURANT
$1,300,000
Change: +57% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,270,000
Change: +53% · Conversion: Easy
MEDICAL BUILDING
$1,265,000
Change: +53% · Conversion: Difficult
OFFICE BUILDING
$1,255,000
Change: +51% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$955,000
Change: +15% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$935,000
Change: +13% · Conversion: Easy
RETAIL STORES
$855,000
Change: +3% · Conversion: Moderate
Blend value · Realmo final
$970k
Range $873k – $1.07M · ±10% · vs last sale $975k (Apr 6 2021)
Last sale anchor
$975k
Apr 6 2021
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
$65 / 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
$20,905
Tax year 2020
Assessed value
$415,500
Assessed 2023
Previous assessed
$388,300
+7.0% YoY
Effective rate
5.03%
On assessed value
Assessed land
$62,200
Assessed improvement
$353,300
Land market value
$124,400
Improvement market value
$706,600
Total market value
$831,000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1975
Heating
YES
Stories
1
Bathrooms
2
Total area
14,900 SF
Lot
0.95 ac (41,426 SF)
Zoning code
H LT IN
APN
33-01-01-05-103-011
UPID
US43-0131742
Jurisdiction
INGHAM
Zoning & alternative use
H LT IN · Lansing, MI
Zoning H LT IN · permitted uses
H LT IN · 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
WAREHOUSE, STORAGE Current
Est. value
$830,000
RESTAURANT
Est. value
$1.3M
AUTO REPAIR, GARAGE
Est. value
$1.3M
MEDICAL BUILDING
Est. value
$1.3M
OFFICE BUILDING
Est. value
$1.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$955,000
INDUSTRIAL (GENERAL)
Est. value
$935,000
RETAIL STORES
Est. value
$855,000
WAREHOUSE, STORAGE Current
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
INDUSTRIAL (GENERAL)
RETAIL STORES
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
1975
Heating
YES
Stories
1
Bathrooms
2
Lot
0.95 ac
Current owner
From public records · entity-resolved
Accord Management LLC
Entity
Mailing address
6025 N HAGADORN RD, EAST LANSING, MI 48823-2211
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 6, 2021
$975,000
Accord Management LLC
Glamse LLC
Warranty Deed
$836,250 · Independent Bank
Apr 27, 2017
—
Glamse L L C
—
Deed
related
$250,000 · Old National Bank
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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