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Property profile & analytics
OFF-MARKET
Estimated value
$860,000
Distribution centers
1130 Ramada Dr 3 Lansing, MI 48911-5722
Entity Owned
2-yr Hold
Free & Clear
Property ID
US43-1426507
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1989
Total area
8,000 SF
Lot
1.87 ac (81,414 SF)
Zoning code
G-2 WHO
APN
33-01-05-10-126-142
UPID
US43-1426507
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
-
Young Supply Company - Lansing Big Box & Wholesale Store Building Supply
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$860k
CAP Approach
CAP
$995k
Comparable Approach
Comparable
$531k
Blend (final)
Blend
$860k
Owner & transaction history
Heritage Distribution Holdings Re L · 2 yrs held
Heritage Distribution Holdings Re L
since 2024
Last sale
$858,953
1 recorded transaction
Zoning & alternative use
G-2 WHO · Lansing, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
code of ordinances
Top alternative use upside
Restaurant
$700,000
+50.0%
Auto repair, garage
$685,000
+46.7%
Medical building
$680,000
+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
$860,000
ML approach
$860,000
CAP Approach
CAP Return
Estimation
6%
$1,075,000
6.5%
$995,000
7%
$920,000
Alternative Use
Use
Estimation
RESTAURANT
$700,000
Change: +50% · Conversion: Difficult
AUTO REPAIR, GARAGE
$685,000
Change: +47% · Conversion: Easy
MEDICAL BUILDING
$680,000
Change: +46% · Conversion: Difficult
OFFICE BUILDING
$660,000
Change: +42% · Conversion: Difficult
RETAIL STORES
$570,000
Change: +23% · Conversion: Moderate
Blend value · Realmo final
$860k
Range $774k – $946k · ±10% · vs last sale $859k (Apr 23 2024)
Last sale anchor
$859k
Apr 23 2024
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
$108 / 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
$18,404
Tax year 2020
Assessed value
$275,700
Assessed 2023
Previous assessed
$275,700
+0.0% YoY
Effective rate
6.68%
On assessed value
Assessed land
$57,800
Assessed improvement
$217,900
Land market value
$115,600
Improvement market value
$435,800
Total market value
$551,400
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
1989
Heating
YES
Stories
1
Total area
8,000 SF
Lot
1.87 ac (81,414 SF)
Zoning code
G-2 WHO
APN
33-01-05-10-126-142
UPID
US43-1426507
Jurisdiction
INGHAM
Zoning & alternative use
G-2 WHO · Lansing, MIZoning G-2 WHO · permitted uses
G-2 WHO · Lansing, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
code of ordinances
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$700,000
AUTO REPAIR, GARAGE
Est. value
$685,000
MEDICAL BUILDING
Est. value
$680,000
OFFICE BUILDING
Est. value
$660,000
RETAIL STORES
Est. value
$570,000
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
OFFICE BUILDING
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
1989
Heating
YES
Stories
1
Lot
1.87 ac
Current owner
From public records · entity-resolved
Heritage Distribution Holdings Re L
Entity
Free & Clear · 2 yrs held
Mailing address
10 GLENLAKE PKWY STE #445, ATLANTA, GA 30328-3495
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 23, 2024
$858,953
Heritage Distribution Holdings Re L
Blairmoor Properties INC
Warranty Deed
—
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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