Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1406 Sunset Ave Lansing, MI 48917

    • Office buildings
    • 816 SF
    • 1.44 lot acres
    OFF-MARKET
    Last Sale
    Nov 09, 2022
    $350,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-1836179
    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

    • Office buildings

    Property Details for 1406 Sunset Ave

    Year built
    1949
    Lot size
    1.44 lot acres
    Property size
    816 SF
    Zone code
    I HVY
    Property type
    Office buildings
    APN
    33-01-01-08-102-142
    APU
    33010108102142

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Lansing
    County
    Ingham
    State
    Michigan
    Longitude
    -84.5787
    Latitude
    42.7501
    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
    2022
    $13,354
    $44,700
    $91,000
    $135,700
    -
    $89,400
    $182,000
    $271,400

    Comparable in this City

    • Value Estimation by Request
      2,219 SF

      3415 Creyts Rd

      OFFICE BUILDING • 2,219 SF
      3415 Creyts Rd, Lansing, MI 48917-8505
      View Details
    • Value Estimation
      $695,000
      5,766 SF

      4021 Michigan Ave

      OFFICE BUILDING • 5,766 SF
      4021 Michigan Ave, Lansing, MI 48917-2880
      View Details
    • Value Estimation
      $9,905,000
      53,147 SF

      3020 Snow Rd

      OFFICE BUILDING • 53,147 SF
      3020 Snow Rd, Lansing, MI 48917-4429
      View Details
    • Value Estimation by Request
      5,222 SF

      530 Creyts Rd

      OFFICE BUILDING • 5,222 SF
      530 Creyts Rd, Lansing, MI 48917-8265
      View Details
    • Value Estimation
      $1,160,000
      9,608 SF

      2400 Saint Joseph St

      OFFICE BUILDING • 9,608 SF
      2400 Saint Joseph St, Lansing, MI 48917-3876
      View Details
    • Value Estimation
      $740,000
      4,960 SF

      6554 Sloan Hwy

      OFFICE BUILDING • 4,960 SF
      6554 Sloan Hwy, Lansing, MI 48917-8571
      View Details

    Similar Nearby for Sale

    • $288,300
      5,766 SF

      Two-Story Office Building For Sale

      Two-story office building in Delta Township with excellent visibility.
      4021 W Michigan Ave, Lansing, MI 48917
      View Details
    • Contact for pricing

      Lansing Office Building For Sale

      Three-story office building in Lansing, recently renovated with flexible floorplans.
      801 S Waverly Rd, Lansing, MI 48917
      View Details
    • Contact for pricing

      Class A Office Building

      Class A office building in Capital Commerce Park for sale.
      6639 Centurion Dr, Lansing, MI 48917
      View Details
    • $3,000,000
      29,768 SF

      Lansing Corporate Office Building

      Class A Office, 29,768 SF, $3M
      1044 Eastbury Dr, Lansing, MI 48917
      View Details
    • $80,000

      West Michigan Avenue Commercial Opportunity

      Commercial property suitable for investors and developers in Lansing, MI.
      3000 West Michigan Ave, Lansing, MI 48917
      View Details
    • Contact for pricing
      0.93 Acres

      Lansing Office Land: Prime Location

      I-496 Access, Build Your Office
      0 Cherbourg Dr & Michigan Ave, Lansing, MI 48917
      View Details

    Similar Nearby for Lease

    • $14 SF/Yr

      Professional Office Building For Lease

      37,000 SF office building with flexible floor plans.
      3815 W St Joseph St, Lansing, MI 48917
      View Details
    • Contact for pricing
      16,339 SF

      Lansing Office Space For Lease

      Office and medical space available for lease starting 09/01/2025.
      4911 West St Joe Hwy, Lansing, MI 48917
      View Details
    • $13 SF/Yr
      32,648 SF

      Lansing Executive Office Space

      Premium Lansing Office Suites Available
      801 Waverly Rd, Lansing, MI 48917
      View Details
    • $19 SF/Yr
      8,849 SF

      Verndale Office Park: Premier Office Space

      Prestigious office suites, ample parking, I-496 access.
      6015 St Joseph Hwy, Lansing, MI 48917
      View Details
    • $3,105 /Mo
      2,484 SF

      Spacious First-Floor Office Suite

      2484 SF office suite with flexible layout and ample parking.
      5123 St Joe Hwy W, Lansing, MI 48917
      View Details
    • $168 SF/Yr
      2,446 SF

      Lansing Office Building - 3 Suites Available

      Prime Lansing Office Space, Multiple Configurations
      5123 St Joseph Hwy, Lansing, MI 48917
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1406 Sunset Ave
    Lansing, MI 48917
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!