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Property profile & analytics
OFF-MARKET
Estimated value
$2,265,000
Distribution centers
1115 Pennsylvania Ave Lansing, MI 48912-1669
Entity Owned
18-yr Hold
Free & Clear
Property ID
US43-1471527
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1962
Total area
21,899 SF
Lot
1.81 ac (78,844 SF)
Zoning code
H LT IN
APN
33-01-01-22-176-003
UPID
US43-1471527
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
-
Munch's Supply Co. Big Box & Wholesale Store Building Supply
-
Willow Health Center Medical Clinic
-
River Oak Community Health Center Medical Clinic
-
Dr. Jevon Mcfadden Physician
-
Jennifer Ludwig Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.72M
Comparable Approach
Comparable
$2.17M
Blend (final)
Blend
$2.27M
Owner & transaction history
PROPERTIES L L C CAMAO
PROPERTIES L L C CAMAO
Zoning & alternative use
H LT IN · Lansing, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.9M
+50.0%
Auto repair, garage
$1.9M
+46.7%
Medical building
$1.9M
+46.2%
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%
$2,945,000
6.5%
$2,720,000
7%
$2,525,000
Alternative Use
Use
Estimation
RESTAURANT
$1,910,000
Change: +50% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,870,000
Change: +47% · Conversion: Easy
MEDICAL BUILDING
$1,860,000
Change: +46% · Conversion: Difficult
OFFICE BUILDING
$1,805,000
Change: +42% · Conversion: Difficult
RETAIL STORES
$1,565,000
Change: +23% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$1,405,000
Change: +10% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$1,375,000
Change: +8% · Conversion: Easy
Blend value · Realmo final
$2.27M
Range $2.04M – $2.49M · ±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
$103 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$36,886
Tax year 2022
Assessed value
$1,230,300
Assessed 2023
Previous assessed
$1,031,700
+19.2% YoY
Effective rate
3.00%
On assessed value
Assessed land
$151,200
Assessed improvement
$1,079,100
Land market value
$302,400
Improvement market value
$2,158,200
Total market value
$2,460,600
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
1962
Heating
SPACE
Buildings
2
Stories
2
Total area
21,899 SF
Lot
1.81 ac (78,844 SF)
Zoning code
H LT IN
APN
33-01-01-22-176-003
UPID
US43-1471527
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
RESTAURANT
Est. value
$1.9M
AUTO REPAIR, GARAGE
Est. value
$1.9M
MEDICAL BUILDING
Est. value
$1.9M
OFFICE BUILDING
Est. value
$1.8M
RETAIL STORES
Est. value
$1.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.4M
INDUSTRIAL (GENERAL)
Est. value
$1.4M
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
OFFICE BUILDING
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
INDUSTRIAL (GENERAL)
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
1962
Heating
SPACE
Stories
2
Buildings
2
Lot
1.81 ac
Current owner
From public records · entity-resolved
PROPERTIES L L C CAMAO
Individual
Free & Clear · 0 yrs held
Mailing address
1111 MICHIGAN AVE STE #300, EAST LANSING, MI 48823-4050
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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