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    Property profile & analytics

    507 Lansing St Charlotte, MI 48813-1115

    • Outlet malls
    • 6,750 SF
    • 0.53 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-3743018
    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

    • O'Reilly Auto Parts / Car Repair And Maintenance Service / Car Stereo Store

    Property Details for 507 Lansing St

    Lot size
    0.53 lot acres
    Property size
    6,750 SF
    Zone code
    N/A
    Property type
    Outlet malls
    APN
    200 007 400 131 02
    APU
    20000740013102

    Value Estimations

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Charlotte
    County
    Eaton
    State
    Michigan
    Longitude
    -84.8256
    Latitude
    42.5707
    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
    2023
    $21,271
    $0.00
    $0.00
    $341,800
    -
    $0.00
    $0.00
    $683,600

    Comparable in this City

    • Value Estimation by Request
      7,400 SF

      1167 Lansing Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 7,400 SF
      1167 Lansing Rd, Charlotte, MI 48813-8440
      View Details
    • Value Estimation by Request
      158,736 SF

      1167 Clinton Trl

      WHOLESALE OUTLET, DISCOUNT STORE • 158,736 SF
      1167 Clinton Trl, Charlotte, MI 48813-7318
      View Details
    • Value Estimation by Request
      6,837 SF

      106 Lansing St

      WHOLESALE OUTLET, DISCOUNT STORE • 6,837 SF
      106 Lansing St, Charlotte, MI 48813-1674
      View Details
    • Value Estimation by Request
      193,657 SF

      1680 Packard Hwy

      WHOLESALE OUTLET, DISCOUNT STORE • 193,657 SF
      1680 Packard Hwy, Charlotte, MI 48813-9717
      View Details
    • Value Estimation by Request
      86,950 SF

      1658 Lansing Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 86,950 SF
      1658 Lansing Rd, Charlotte, MI 48813-8455
      View Details
    • Value Estimation by Request
      9,100 SF

      6899 Lansing Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 9,100 SF
      6899 Lansing Rd, Charlotte, MI 48813-9395
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      86,950 SF

      Charlotte Shopping Center Investment

      Net Lease Retail Center, High Visibility
      1660 Lansing Rd, Charlotte, MI 48813
      View Details
    • $1,300,000
      13.79 Acres

      Gainesville Executive Office Suites

      Prime Alachua County office space available.
      520 Lansing St, Charlotte, MI 48813
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    • $449,000
      6,600 SF

      Retail Building in Charlotte, MI

      6,600 SF retail building in a thriving commercial district.
      5091 Lansing Rd, Charlotte, MI 48813
      View Details
    • $169,999
      2,650 SF

      Commercial Building on Robinson Street

      Freestanding retail/industrial building on a highly trafficked street.
      519 Robinson St, Charlotte, MI 48813
      View Details
    • $339,900
      1,848 SF

      Turnkey Restaurant/Bar in Historic Building

      Restaurant/bar in downtown Charlotte with liquor license and FF&E.
      208 S Cochran Ave, Charlotte, MI 48813
      View Details
    • $99,000
      0.77 Acres

      Charlotte Retail Land - I-69 Access

      .77-Acre Lot, High Visibility, Prime Location
      1616 Lansing Rd, Charlotte, MI 48813
      View Details

    Similar Nearby for Lease

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      2,000 SF

      Versatile Commercial Space For Lease

      2,000 sq ft commercial space suitable for various businesses.
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    • $783 /Mo

      Apartment for Rent

      Apartment available for rent in Charlotte, MI.
      417 Maynard St, Charlotte, MI 48813
      View Details
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    507 Lansing St
    Charlotte, MI 48813-1115
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    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.

    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
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