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Property profile & analytics
OFF-MARKET
Estimated value
$1,775,000
Warehouses
1501 Jolly Rd Lansing, MI 48910-7133
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US43-0885310
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1967
Total area
18,120 SF
Lot
8.42 ac (366,775 SF)
Zoning code
I HVY
APN
33-01-01-34-451-041
UPID
US43-0885310
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
-
Nucor Rebar Fabrication Factory Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.25M
Comparable Approach
Comparable
$1.79M
Blend (final)
Blend
$1.78M
Owner & transaction history
Hrre Investors LLC · 4 yrs held
Hrre Investors LLC
since 2021
2 recorded transactions
Zoning & alternative use
I HVY · Lansing, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.6M
+50.0%
Auto repair, garage
$1.5M
+46.7%
Medical building
$1.5M
+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%
$2,435,000
6.5%
$2,250,000
7%
$2,090,000
Alternative Use
Use
Estimation
RESTAURANT
$1,580,000
Change: +50% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,545,000
Change: +47% · Conversion: Easy
MEDICAL BUILDING
$1,540,000
Change: +46% · Conversion: Difficult
OFFICE BUILDING
$1,265,000
Change: +20% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,165,000
Change: +10% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$1,135,000
Change: +8% · Conversion: Easy
RETAIL STORES
$1,085,000
Change: +3% · Conversion: Moderate
Blend value · Realmo final
$1.78M
Range $1.60M – $1.95M · ±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
$98 / 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
$82,862
Tax year 2022
Assessed value
$1,068,900
Assessed 2023
Previous assessed
$989,400
+8.0% YoY
Effective rate
7.75%
On assessed value
Assessed land
$213,100
Assessed improvement
$855,800
Land market value
$426,200
Improvement market value
$1,711,600
Total market value
$2,137,800
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
1967
Heating
NONE
Buildings
3
Stories
1
Bathrooms
2
Total area
18,120 SF
Lot
8.42 ac (366,775 SF)
Zoning code
I HVY
APN
33-01-01-34-451-041
UPID
US43-0885310
Jurisdiction
INGHAM
Zoning & alternative use
I HVY · Lansing, MI
Zoning I HVY · permitted uses
I HVY · 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
$1.6M
AUTO REPAIR, GARAGE
Est. value
$1.5M
MEDICAL BUILDING
Est. value
$1.5M
OFFICE BUILDING
Est. value
$1.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.2M
INDUSTRIAL (GENERAL)
Est. value
$1.1M
RETAIL STORES
Est. value
$1.1M
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
INDUSTRIAL (GENERAL)
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
1967
Heating
NONE
Stories
1
Buildings
3
Bathrooms
2
Lot
8.42 ac
Current owner
From public records · entity-resolved
Hrre Investors LLC
Entity
Mailing address
1400 16TH ST STE #250, OAK BROOK, IL 60523-8802
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 22, 2023
—
Hrre Investors LLC
—
Deed
related
$8,000,000 · First Bankers Trust Co NA
Dec 3, 2021
—
Hrre Investors LLC
Ingham County Properties LLC
Deed
$8,830,000 · Schaumburg Bank & Trust Co NA
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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