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Property profile & analytics
OFF-MARKET
Estimated value
$545,000
Distribution centers
1521 Keystone Ave 11 Lansing, MI 48911-4039
Entity Owned
3-yr Hold
Free & Clear
Property ID
US43-0200683
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1968
Total area
13,791 SF
Lot
2.23 ac (97,008 SF)
Zoning code
I HVY
APN
33-01-05-03-251-022
UPID
US43-0200683
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
-
Wonch Battery Co Industrial Manufacturer Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$405k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$439k
Blend (final)
Blend
$545k
Owner & transaction history
East Penn Manufacturing Co · 3 yrs held
East Penn Manufacturing Co
since 2022
1 recorded transaction
Zoning & alternative use
I HVY · Lansing, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$885,000
+10.3%
Industrial (general)
$865,000
+7.9%
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
$405,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$800,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$885,000
Change: +10% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$865,000
Change: +8% · Conversion: Easy
Blend value · Realmo final
$545k
Range $491k – $600k · ±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
$40 / 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
$21,655
Tax year 2020
Assessed value
$408,500
Assessed 2023
Previous assessed
$334,000
+22.3% YoY
Effective rate
5.30%
On assessed value
Assessed land
$182,100
Assessed improvement
$226,400
Land market value
$364,200
Improvement market value
$452,800
Total market value
$817,000
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
1968
Heating
YES
Stories
1
Bathrooms
2
Total area
13,791 SF
Lot
2.23 ac (97,008 SF)
Zoning code
I HVY
APN
33-01-05-03-251-022
UPID
US43-0200683
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
$800,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$885,000
INDUSTRIAL (GENERAL)
Est. value
$865,000
WAREHOUSE, STORAGE Current
NEIGHBORHOOD: SHOPPING CENTER
INDUSTRIAL (GENERAL)
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
1968
Heating
YES
Stories
1
Bathrooms
2
Lot
2.23 ac
Current owner
From public records · entity-resolved
East Penn Manufacturing Co
Entity
Free & Clear · 3 yrs held
Mailing address
102 DEKA RD, LYON STATION, PA 19536-5001
Ownership since
2022
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
Oct 19, 2022
—
East Penn Manufacturing Co
East Penn Manufacturing Co
Intrafamily Transfer
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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