New search
Property profile & analytics
OFF-MARKET
Estimated value
$1,995,000
Manufacturing properties
2120 Washington Ave, Lansing, MI 48910-2863
Entity Owned
4-yr Hold
Free & Clear
Property ID
US43-0468885
Property summary
AI-generated overview
This exceptional free-standing warehouse, located at 2120 S Washington Avenue in Ingham County, offers a significant opportunity for businesses seeking flexible industrial space. The property boasts a total of 114,037 square feet, with a minimum divisible space of 5,000 square feet and the potential to lease the entire building contiguously. Currently, the entire 114,037 square feet is vacant and ready for immediate occupancy. The warehouse features impressive 16' to 18' clear ceiling heights, providing ample vertical space for storage and operations. Loading is facilitated by one dock-high door and five truckwells. Ample parking is available with over 50 spaces. The property benefits from robust power capabilities, including 600 amps, 440 volts, and 3-phase power. An elevator is also present. The building underwent extensive renovations in 2024, including a new roof, electrical service, and LED lighting throughout. The property is zoned for industrial use and is conveniently situated near an active rail spur. Office space can be customized to suit tenant needs. The lease rate is $5.50 per square foot, NNN, with pricing adjusted based on size and lease term. Inquire for sale information.
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1915
Total area
443,540 SF
Lot
9.59 ac (417,740 SF)
Zoning code
I HVY
APN
33-01-01-28-151-014
UPID
US43-0468885
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
$1.99M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.00M
Owner & transaction history
2120 Washington Lasing LLC · 4 yrs held
2120 Washington Lasing LLC
since 2021
Last sale
$2.0M
3 recorded transactions
Zoning & alternative use
I HVY · 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
$1,990,000
ML approach
$1,985,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$2.00M
Range $1.80M – $2.19M · ±10% · vs last sale $2.00M (Sep 1 2021)
Last sale anchor
$2.00M
Sep 1 2021
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
$4 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$33,567
Tax year 2023
Assessed value
$508,600
Assessed 2024
Previous assessed
$395,200
+28.7% YoY
Effective rate
6.60%
On assessed value
Assessed land
$64,600
Assessed improvement
$444,000
Land market value
$129,200
Improvement market value
$888,000
Total market value
$1,017,200
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1915
Heating
SPACE
Stories
2
Total area
443,540 SF
Lot
9.59 ac (417,740 SF)
Zoning code
I HVY
APN
33-01-01-28-151-014
UPID
US43-0468885
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.
Building & site characteristics
From public records
Year built
1915
Heating
SPACE
Stories
2
Lot
9.59 ac
Current owner
From public records · entity-resolved
2120 Washington Lasing LLC
Entity
Free & Clear · 4 yrs held
Mailing address
620 CTR DR #1100, NEWPORT BEACH, CA 92660
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 28, 2024
—
2120 Washington Lansing LLC
—
Deed
related
$550,000 · Ronald P Beard Trust
Sep 1, 2021
$2,000,000
2120 Washington Lasing LLC
Blackwood Developments LLC
Warranty Deed
—
Aug 31, 2021
$1,600,000
Blackwood Developments LLC
Amira Enterprises LLC
Warranty Deed
—
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 2120 Washington Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
