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    210 State St, Unit 5 Mason, MI 48854-1644
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    Property profile & analytics

    210 State St, Unit 5, Mason, MI 48854-1644

    View on Map
    • Warehouses
    • 7,728 SF
    • 0.30 lot acres
    Off-Market
    Last Sale Jan 27, 2020
    $490,000
    Property ID
    US43-5161961
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $530,000
    Show details
    Cap Rate Potential
    9.2%
    Warehouses
    Location Intelligence

    Current Use by Public Records

    • Delaporte Lynch / Law Firm
    • Smart Tech Studios / Marketing & Advertising / (Bike/Boat/Book/etc) Store
    • Smart Offices and Smart Homes / IT Consulting Firm / Tech Support Center
    • Anchest Auto Glass of Mason / Auto Repair Shop

    Property Details for 210 State St

    Year built
    1923
    Lot size
    0.30 lot acres
    Zone code
    C1
    Property type
    Warehouses
    APN
    33-19-10-08-231-004
    APU
    33191008231004

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Feb 19, 2020 — Smart Places LLC — Deed · related $490k · Comerica Bank
    Jan 27, 2020 $490,000 Smart Places LLC Cartam Enterprises LLC Warranty Deed $490k · Comerica Bank
    Feb 6, 2006 — Carl Howard Howard,tamara Quit Claim Deed · related —
    Feb 19, 2004 — Cartam Ents LLC Howard,carl L & Tamara Quit Claim Deed · related $160k · Dart Bank
    Feb 19, 2004 $200,000 Carl L Howard Ingham Intermediate Sch Distri Warranty Deed · related —
    — — Cartam Ents LLC — Deed Of Trust · related $288k · Dart Bank
    — — Cartam Ents LLC — Deed Of Trust · related $613k · Dart Bank

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $575,000
      ML approach
      $580,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $495,000
      Market price range: $265k - $794k
      AI Estimate
      $554,000
      Market price range: $303k - $797k

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $505,000
      Current use
      COMMERCIAL (GENERAL)
      $885,000
      Change: +74% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $780,000
      Change: +54% Conversion: Easy
      OFFICE BUILDING
      $720,000
      Change: +42% Conversion: Difficult
      RETAIL STORES
      $615,000
      Change: +21% Conversion: Moderate
      NEIGHBORHOOD: SHOPPING CENTER
      $495,000
      Change: -2% Conversion: Moderate

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Mason
    County
    Ingham
    State
    Michigan
    Longitude
    -84.4463
    Latitude
    42.5807
    CBSA code
    29620
    CBSA name
    LANSING-EAST LANSING, MI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2021
    $17,826
    $13,070
    $247,750
    $260,820
    -
    $26,140
    $495,500
    $521,640

    Comparable in this City

    • Value Estimation by Request
      3,012 SF

      227 Cedar St, Unit 6

      WAREHOUSE, STORAGE
      227 Cedar St, Mason, MI 48854-2552
      View Details
    • Value Estimation by Request
      3,479 SF

      809 Kerns Rd

      WAREHOUSE, STORAGE
      809 Kerns Rd, Mason, MI 48854-1001
      View Details
    • Value Estimation
      $720,000
      7,200 SF

      1284 Cedar Rd

      WAREHOUSE, STORAGE
      1284 Cedar Rd, Mason, MI 48854-9530
      View Details
    • Value Estimation by Request
      3,360 SF

      Columbia

      WAREHOUSE, STORAGE
      Columbia, Mason, MI 48854
      View Details
    • Value Estimation by Request
      2,400 SF

      457 Cedar Rd

      WAREHOUSE, STORAGE
      457 Cedar Rd, Mason, MI 48854-1020
      View Details
    • Value Estimation
      $525,000
      15,720 SF

      1248 Cedar Rd

      WAREHOUSE, STORAGE
      1248 Cedar Rd, Mason, MI 48854-9509
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      Pending

      Office/Warehouse For Sale

      Office/warehouse on 4.485 acres with warehouse, shed, and office.
      1250 N Cedar St, Mason, MI 48854
      View Details
    • Contact for pricing
      95,832 SF

      Land For Sale

      Land available for sale in Mason, MI.
      3 College Rd, Mason, MI 48854
      View Details
    • $1,399,900
      9,745 SF

      Mason Office Complex: 3 Buildings

      Prime Mason location, 9,745 sqft, 2.35 acres.
      839 Cedar St, Mason, MI 48854
      View Details
    • Contact for pricing
      Pending

      Mason Church and Community Center

      21,035 SF facility with sanctuary, kitchen, classrooms, offices.
      415 E Maple St, Mason, MI 48854
      View Details
    • $575,000

      Retail Property in Mason/Holt Area

      Two-building retail property with high-traffic frontage, leased until 2025.
      1223 North Cedar Rd, Mason, MI 48854
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Mason Flex/Industrial/Office Space Available

      Flex, industrial, and office spaces for rent in Mason.
      454 North St, Mason, MI 48854
      View Details
    • Contact for pricing
      1,584 SF

      Spacious Warehouse in Mason, Michigan

      1,584 sq ft warehouse space ideal for storage and distribution.
      4171 Legion Dr, Mason, MI 48854
      View Details
    • Contact for pricing

      Retail Space in Mason Plaza

      Retail and service spaces available in high-traffic Cedar Street location.
      558 N Cedar St, Mason, MI 48854
      View Details
    • $19 SF/Yr

      High Visibility Office Space Available

      1000 sq ft office space ideal for insurance/real estate.
      806 Hogsback Rd, Mason, MI 48854
      View Details
    • $1,700 /Mo
      3,700 SF

      Mason Retail/Commercial Space For Lease

      Versatile 1,200 SF space in high-visibility location, suitable for various uses.
      306 S Cedar St, Mason, MI 48854
      View Details
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    210 State St, Unit 5
    Mason, MI 48854-1644
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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