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Property profile & analytics
OFF-MARKET
Estimated value
$1,680,000
Distribution centers
1520 Cavanaugh Rd Lansing, MI 48910-0614
Entity Owned
~
Est. High Equity
Property ID
US43-3807550
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
2004
Total area
27,000 SF
Lot
13.95 ac (607,662 SF)
Zoning code
I HVY
APN
33-01-01-34-402-011
UPID
US43-3807550
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
-
Goodman Networks Warehouse & Storage
-
NGP Inc Brewery & Distillery Big Box & Wholesale Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.60M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.85M
Blend (final)
Blend
$1.68M
Owner & transaction history
19410 Middlebelt Road LLC
19410 Middlebelt Road LLC
since 2026
7 recorded transactions
Zoning & alternative use
I HVY · Lansing, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.4M
+50.0%
Auto repair, garage
$2.3M
+46.7%
Medical building
$2.3M
+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
$1,600,000
ML approach
$1,600,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,570,000
Current use
RESTAURANT
$2,355,000
Change: +50% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,305,000
Change: +47% · Conversion: Easy
MEDICAL BUILDING
$2,295,000
Change: +46% · Conversion: Difficult
OFFICE BUILDING
$1,885,000
Change: +20% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,735,000
Change: +10% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$1,695,000
Change: +8% · Conversion: Easy
RETAIL STORES
$1,620,000
Change: +3% · Conversion: Moderate
Blend value · Realmo final
$1.68M
Range $1.51M – $1.85M · ±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
$62 / 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
$63,881
Tax year 2020
Assessed value
$1,290,400
Assessed 2023
Previous assessed
$1,290,400
+0.0% YoY
Effective rate
4.95%
On assessed value
Assessed land
$718,000
Assessed improvement
$572,400
Land market value
$1,436,000
Improvement market value
$1,144,800
Total market value
$2,580,800
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
2004
Heating
YES
Stories
1
Total area
27,000 SF
Lot
13.95 ac (607,662 SF)
Zoning code
I HVY
APN
33-01-01-34-402-011
UPID
US43-3807550
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
WAREHOUSE, STORAGE Current
Est. value
$1.6M
RESTAURANT
Est. value
$2.4M
AUTO REPAIR, GARAGE
Est. value
$2.3M
MEDICAL BUILDING
Est. value
$2.3M
OFFICE BUILDING
Est. value
$1.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.7M
INDUSTRIAL (GENERAL)
Est. value
$1.7M
RETAIL STORES
Est. value
$1.6M
WAREHOUSE, STORAGE Current
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
2004
Heating
YES
Stories
1
Lot
13.95 ac
Current owner
From public records · entity-resolved
19410 Middlebelt Road LLC
Entity
Mailing address
26536 ANCHORAGE CT, NOVI, MI 48374-2125
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
14 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 25, 2026
—
19410 Middlebelt Road LLC
584 Starkweather LLC
Deed
related
$1,000,000 · First Equity Realty Corporation
Mar 13, 2026
—
584 Starkweather LLC
N 19410 Middlebelt Road LLC
Deed
—
Jan 22, 2026
$1,092,288
Next Bridge Funding LLC
Frank Mastroiann
Deed
related
—
Nov 25, 2025
—
19410 Middlebelt Road LLC
—
Deed
related
$800,000 · Gbc Fund III LLC
Nov 21, 2025
—
19410 Middlebelt Road LLC
—
Deed
related
$511,900 · First Equity Realty Corporation
Dec 26, 2024
—
584 Starkweather LLC
19410 Mlddlebelt Road LLC
Deed
—
Apr 22, 2024
—
19410 Middlebelt Road LLC
Frank A Mastroianni
Quit Claim Deed
related
—
Feb 29, 2024
$1,600,000
Frank A Mastroianni
Mastroianni Properties II LLC
Warranty Deed
$2,000,000 · Frank Mastroianni
Mar 30, 2023
—
Mastroianni Properties II LLC
Gesw INC
Deed In Lieu Of Foreclosure
related
—
Jan 9, 2023
—
Mastroianni Properties LLC
Gesw INC
Deed In Lieu Of Foreclosure
related
—
Aug 3, 2020
—
Mastroimmai Propertie Sllc
—
Deed
related
$725,000 · Oakland County Captial LLC
May 9, 2019
$1,500,000
Mastroianni Properties II LLC
Nick & Nick Ents LLC
Warranty Deed
—
Feb 27, 2017
—
Fmjrl INC
Nick & Nick Enterprises LLC
Quit Claim Deed
—
Oct 10, 2013
—
Nick & Nick Ents LLC
Cavanaugh Dev Group LLC
Quit Claim Deed
related
—
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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