Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Delta River Dr Lansing, MI 48906
    Back to Search
    Property profile & analytics

    Delta River Dr, Lansing, MI 48906

    View on Map
    • Land
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 Delta River Dr

    Property type
    Land
    Property subtype
    High-rise multifamily apartments

    Description

    This exceptional 97.86-acre parcel, situated at the intersection of Delta River Drive and N. Waverly Road in Lansing, Michigan's Ingham County (zip code 48906), presents a unique investment opportunity. The property boasts approximately 4,700 feet of river frontage along the Delta River, offering a tranquil setting with easy access to major highways, shopping, and entertainment. Zoned for a mix of residential uses (RB & RC), the site has a pre-planned potential for up to 205 residential units. However, it's important to note that approximately 50 acres fall within a 100-year floodplain. This characteristic, along with the presence of wetlands, makes this land particularly well-suited for development as a senior living community or a multi-family residential complex. The asking price for this expansive property is $2,100,000. Detailed site plans and zoning information are available upon request. This is a rare chance to acquire a large, strategically located parcel with significant development potential in a desirable Michigan market. The property's location offers both natural beauty and convenient access to urban amenities, making it an attractive proposition for discerning investors.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Lansing
    County
    Ingham
    State
    Michigan
    Longitude
    -84.603
    Latitude
    42.7628

    Comparable in this City

    • Value Estimation by Request
      7,760 SF

      4221 Grand River Ave

      Multifamily properties
      4221 Grand River Ave, Lansing, MI 48906
      View Details
    • Value Estimation by Request
      19.52 Acres

      Grove Rd

      Farms
      0 Grove Rd, Lansing, MI 48906
      View Details
    • Value Estimation by Request
      30.00 Acres

      Grove Rd

      Farms
      0 Grove Rd, Lansing, MI 48906
      View Details
    • Value Estimation by Request
      0.58 Acres

      Benjamin Dr

      Land
      0 Benjamin Dr, Lansing, MI 48906
      View Details
    • Value Estimation by Request
      10.21 Acres

      7455 Grand Riv Ave

      Land
      7455 Grand Riv Ave, Grand Ledge, MI 48906
      View Details
    • Value Estimation by Request
      45.00 Acres

      3811 Clark Rd

      Land
      3811 Clark Rd, Lansing, MI 48906
      View Details

    Similar Nearby for Sale

    • $278,000

      Multifamily Property with Seven Units

      Seven units, renovated in 2023, excellent investment opportunity.
      1216 N Chestnut St, Lansing, MI 48906
      View Details
    • $285,000
      2,727 SF

      Mixed-Use Building in Old Town

      Historic mixed-use property with office and residential units.
      1031 N Washington Ave, Lansing, MI 48906
      View Details
    • $285,000

      Mixed-Use Building in Old Town

      Historic mixed-use property with office and residential units.
      1031 N Washington Ave, Lansing, MI 48906
      View Details
    • $425,000
      1.83 Acres

      Prime Jackson Retail Land

      1.83 Acres, C-2 Zoning, $425K
      0 O’neil Dr, Lansing, MI 48906
      View Details
    • Contact for pricing
      2,727 SF

      Mixed-Use Building in Old Town

      2,727 SF mixed-use property in Old Town Lansing.
      1031 N Washington Ave, Lansing, MI 48906
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Industrial Building Near Lake Lansing

      3260 sqft industrial building with easy highway access.
      2311 N High St, Lansing, MI 48906
      View Details
    • Contact for pricing

      High Visibility Lansing Office Building

      Two-story office building with investment income and owner-user potential.
      741 N Cedar St, Lansing, MI 48906
      View Details
    • Contact for pricing
      4,284 SF

      Turn-Key Grow Facility For Lease

      Former State-licensed marijuana grow facility in Lansing available for lease.
      914 E Gier St, Lansing, MI 48906
      View Details
    • $20 SF/Yr
      28,380 SF

      Lansing Old Town Retail Space

      Historic building, prime location, 909 sq ft.
      502 César E Chávez Ave, Lansing, MI 48906
      View Details
    • Contact for pricing

      Lansing Flex Space Available

      Updated flex space suitable for a variety of businesses.
      205 Bell St, Lansing, MI 48906
      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.
    Delta River Dr
    Lansing, MI 48906
    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

    Thank You for Inquiry
    Delta River Dr, Lansing, MI, 48906
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!