Financial
Distress signals
Property profile

1115 S Pennsylvania Ave Lansing, MI 48912

FOR LEASE
Distribution centers
Property ID
US43-1471527
21,899 SF 1.81 ac lot Built 1962
Last sale Mar 2006 · $1,020,000
Entity Owned Owner of record is a legal entity (LLC / corporation). 18-yr Hold Held for 18 years. Free & Clear No active or open recorded mortgage detected.
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Property summary

AI-generated overview

The property is a multi-tenant mixed-use building located on South Pennsylvania Avenue, a north-south thoroughfare, approximately 2 blocks from I-496 and about 1.4 miles from GM’s Grand River Assembly Plant. It contains approximately 49,700 square feet, allocated about 56% to office space and about 44% to warehouse, distribution, and showroom space. The facility includes tenant-specific office build-outs, three loading docks, two ramps, one overhead door, and 12-foot ceilings. The building is

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. In the full report.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with the full report.

Mortgages

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — in the full report.

Property tax · 2022

What does the county charge?
$37k
Tax billed · 2022
Assessed value · 2023$1.23M
Assessed land$151k
Assessed improvement$1.08M
Effective rate3.00%

Value estimate

· Sep 2026
$2.27M
$2.04M – $2.49M
CAP approach$2.72M
Submarket $/SF estimate$2.17M
NOI build-up
Gross scheduled income$507k
Vacancy & credit loss−$46k
Operating expenses−$138k
NOI · 3,312,010.26% cap applied$323k

Realmo valuation models over county records.

Recently sold

What actually traded nearby?
$58/SF
Submarket average, outlier-cleaned · 76 recorded sales of this use type
Observed band · Q1–Q3$31 – $99

Cap rate analysis

How does the asset earn?
3,312,010.26%
$323k estimated NOI · market benchmarks for this use type

Price anchors at 6 / 6.5 / 7% — in the full report.

Zoning insight

What can be built here?
H LT IN
JurisdictionINGHAM

Location intelligence

Which uses thrive at this corner?
Best fit: Skin Care Clinic
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Skin Care Clinic10.1
Laundry Service9.6
Convenience Store9.2

Location

1115 S Pennsylvania Ave Lansing, MI 48912
County assessor Recorded deeds · not on file Qualifying comp sales · not on file Zoning catalog

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

2 recorded sales · 15 properties nearby
Recent sales nearby
2 recorded sales in this ZIP, last 8 years
Address Sale price Sold Size
500 Hosmer, Lansing, MI 48912-1320 $150,000 Nov 2024 11,044 SF
1121 Riv St, Lansing, MI 48912-1031 $766,000 Jan 2024 No data
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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