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Property profile & analytics
OFF-MARKET
Estimated value
$1,195,000
Warehouses
16438 Felton Rd, Lansing, MI 48906-9116
Entity Owned
17-yr Hold
Absentee Owner
Free & Clear
Property ID
US43-2126482
Property summary
AI-generated overview
This expansive 58,800-square-foot warehouse, situated on a generous 5.28-acre lot in Lansing, Michigan, presents a compelling opportunity for industrial users. Located conveniently just north of Grand River Avenue, this property boasts a strategic position less than one mile from the Capital Region International Airport and approximately two miles from the I-96/I-69 interchange, ensuring seamless transportation and logistics. The building itself features a substantial ceiling height, ranging from 17 feet to the joists to 22 feet to the deck, providing ample vertical space for various operational needs. Access is facilitated by one dock-high door and five garage doors, plus one roll-up door, ensuring efficient loading and unloading. The property is zoned IND-1
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1955
Total area
54,480 SF
Lot
4 ac (174,240 SF)
Zoning code
LI
APN
150-036-200-015-00
UPID
US43-2126482
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.38M
Blend (final)
Blend
$1.20M
Owner & transaction history
Emerger Development LLC · 17 yrs held
Emerger Development LLC
since 2009
2 recorded transactions
Zoning & alternative use
LI · Lansing, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
Blend value · Realmo final
$1.20M
Range $1.08M – $1.31M · ±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
$22 / 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
$13,842
Tax year 2022
Assessed value
$211,450
Assessed 2024
Previous assessed
$225,750
-6.3% YoY
Effective rate
6.55%
On assessed value
Assessed land
$78,250
Assessed improvement
$133,200
Land market value
$156,500
Improvement market value
$266,400
Total market value
$422,900
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1955
Heating
SPACE
Buildings
2
Stories
1
Total area
54,480 SF
Lot
4 ac (174,240 SF)
Zoning code
LI
APN
150-036-200-015-00
UPID
US43-2126482
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.
Building & site characteristics
From public records
Year built
1955
Heating
SPACE
Stories
1
Buildings
2
Lot
4 ac
Current owner
From public records · entity-resolved
Emerger Development LLC
Entity
Free & Clear · 17 yrs held
Mailing address
5562 HAMPSHIRE DR, WEST BLOOMFIELD, MI 48322-1129
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2009
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
Mar 2, 2009
$165,000
Emerger Development LLC
Bank Of America NA
Other
—
Nov 6, 2006
$1,168,537
Lasalle Bank Midwest NA
Nri Brothers LLC
Sheriffs 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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