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Property profile & analytics
OFF-MARKET
Warehouses
1245 State Rd Lansing, MI 48906-1131
Entity Owned
3-yr Hold
Free & Clear
Property ID
US43-2315984
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1965
Total area
2,048 SF
Lot
1.09 ac (47,480 SF)
Zoning code
BC
APN
050-470-000-054-00
UPID
US43-2315984
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Kwake LLC · 3 yrs held
Kwake LLC
since 2023
Last sale
$355,000
5 recorded transactions
Zoning & alternative use
BC · Lansing, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$3,327
Tax year 2022
Assessed value
$85,900
Assessed 2024
Previous assessed
$84,300
+1.9% YoY
Effective rate
3.87%
On assessed value
Assessed land
$31,700
Assessed improvement
$54,200
Land market value
$63,400
Improvement market value
$108,400
Total market value
$171,800
Applied tax rate
50.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1965
Heating
HOT WATER
Buildings
4
Stories
1
Total area
2,048 SF
Lot
1.09 ac (47,480 SF)
Zoning code
BC
APN
050-470-000-054-00
UPID
US43-2315984
Jurisdiction
CLINTON
Zoning & alternative use
BC · Lansing, MI
Zoning BC · permitted uses
BC · 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.
Building & site characteristics
From public records
Year built
1965
Heating
HOT WATER
Stories
1
Buildings
4
Lot
1.09 ac
Current owner
From public records · entity-resolved
Kwake LLC
Entity
Free & Clear · 3 yrs held
Mailing address
519 W 14TH ST, TRAVERSE CITY, MI 49684-4042
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 10, 2023
—
Kwake LLC
Benjamin Birney
Quit Claim Deed
related
—
Apr 10, 2023
$355,000
Kwake LLC
Benjamin Birney
Warranty Deed
—
Feb 16, 2017
—
Craig T Devlin
Craig T Devlin
Deed
related
—
Jan 30, 2012
$70,000
Craig T Devlin
Michael D House
Warranty Deed
—
Aug 10, 2011
$60,000
Benjamin Birney
Michael D House
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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