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Property profile & analytics
OFF-MARKET
Estimated value
$1,610,000
Distribution centers
16400 Felton Rd Lansing, MI 48906-9116
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-4233627
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
2016
Total area
24,840 SF
Lot
2.16 ac (94,090 SF)
Zoning code
LI
APN
150-140-000-004-50
UPID
US43-4233627
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
-
Wayne Dalton Sales Center Building Supply General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.48M
Blend (final)
Blend
$1.61M
Owner & transaction history
Emerger Development LLC · 1 yrs held
Emerger Development LLC
since 2025
1 recorded transaction
Zoning & alternative use
LI · Lansing, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.2M
+56.6%
Auto repair, garage
$2.1M
+53.1%
Medical building
$2.1M
+52.6%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,385,000
Current use
RESTAURANT
$2,165,000
Change: +57% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,120,000
Change: +53% · Conversion: Easy
MEDICAL BUILDING
$2,110,000
Change: +53% · Conversion: Difficult
OFFICE BUILDING
$2,090,000
Change: +51% · Conversion: Difficult
RETAIL STORES
$1,430,000
Change: +3% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,200,000
Change: -13% · Conversion: Difficult
Blend value · Realmo final
$1.61M
Range $1.45M – $1.77M · ±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
$65 / 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
$38,216
Tax year 2022
Assessed value
$753,700
Assessed 2024
Previous assessed
$816,600
-7.7% YoY
Effective rate
5.07%
On assessed value
Assessed land
$42,250
Assessed improvement
$711,450
Land market value
$84,500
Improvement market value
$1,422,900
Total market value
$1,507,400
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
2016
Heating
FORCED AIR
Stories
1
Total area
24,840 SF
Lot
2.16 ac (94,090 SF)
Zoning code
LI
APN
150-140-000-004-50
UPID
US43-4233627
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
$1.4M
RESTAURANT
Est. value
$2.2M
AUTO REPAIR, GARAGE
Est. value
$2.1M
MEDICAL BUILDING
Est. value
$2.1M
OFFICE BUILDING
Est. value
$2.1M
RETAIL STORES
Est. value
$1.4M
COMMERCIAL (GENERAL)
Est. value
$1.2M
WAREHOUSE, STORAGE Current
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
OFFICE BUILDING
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
2016
Heating
FORCED AIR
Stories
1
Lot
2.16 ac
Current owner
From public records · entity-resolved
Emerger Development LLC
Entity
Mailing address
4520 N GRAND RIV AVE, LANSING, MI 48906-2615
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
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
Jun 10, 2025
—
Emerger Development LLC
—
Deed
related
$63,000 · First National Bank Of America
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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