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Property profile & analytics
OFF-MARKET
Estimated value
$705,000
Distribution centers
16180 National Pkwy Lansing, MI 48906-9114
Individually Owned
14-yr Hold
~
Est. High Equity
Property ID
US43-2037501
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
2000
Total area
14,800 SF
Lot
2.91 ac (126,760 SF)
Zoning code
LI
APN
150-185-000-007-00
UPID
US43-2037501
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
-
UA Advocacy Group
-
UA Plumbers and Pipefitters Local 333 Training Center Training Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$465k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$903k
Blend (final)
Blend
$705k
Owner & transaction history
Plumbers & Pipefitters Local #333 J · 14 yrs held
Plumbers & Pipefitters Local #333 J
since 2012
2 recorded transactions
Zoning & alternative use
LI · Lansing, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$850,000
+3.1%
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
$465,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$825,000
Current use
RETAIL STORES
$850,000
Change: +3% · Conversion: Moderate
COMMERCIAL (GENERAL)
$715,000
Change: -13% · Conversion: Difficult
Blend value · Realmo final
$705k
Range $635k – $776k · ±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
$48 / 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
$21,630
Tax year 2022
Assessed value
$460,600
Assessed 2024
Previous assessed
$503,100
-8.4% YoY
Effective rate
4.70%
On assessed value
Assessed land
$56,900
Assessed improvement
$403,700
Land market value
$113,800
Improvement market value
$807,400
Total market value
$921,200
Applied tax rate
150.0000
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
2000
Heating
YES
Buildings
2
Stories
1
Total area
14,800 SF
Lot
2.91 ac (126,760 SF)
Zoning code
LI
APN
150-185-000-007-00
UPID
US43-2037501
Jurisdiction
CLINTON
Zoning & alternative use
LI · Lansing, MI
Zoning LI · permitted uses
LI · 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
$825,000
RETAIL STORES
Est. value
$850,000
COMMERCIAL (GENERAL)
Est. value
$715,000
WAREHOUSE, STORAGE Current
RETAIL STORES
COMMERCIAL (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
2000
Heating
YES
Stories
1
Buildings
2
Lot
2.91 ac
Current owner
From public records · entity-resolved
Plumbers & Pipefitters Local #333 J
Individual
Mailing address
5405 S MARTIN LUTHER KING JR BLVD, LANSING, MI 48911-3543
Ownership since
2012
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 6, 2024
—
Plumbers & Pipefitters Local No 333
—
Deed
related
$2,800,000 · Independent Bank
Apr 17, 2012
—
Plumbers & Pipefitters Local #333 J
Tigg LLC
Warranty Deed
$500,000 · Pnc Bank 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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