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Property profile & analytics
OFF-MARKET
Industrial land
2506 Grand Riv Ave Lansing, MI 48906-3915
Entity Owned
8-yr Hold
Absentee Owner
Free & Clear
Property ID
US43-0589851
Property profile
Verified
Property type
Industrial land
Use group
INDUSTRIAL - VACANT LAND
Year built
1924
Total area
1,125 SF
Lot
0.31 ac (13,416 SF)
Zoning code
MIXED Z
APN
33-01-01-05-427-101
UPID
US43-0589851
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
by Request
Blend (final)
Blend
by Request
Owner & transaction history
River Dev LLC · 8 yrs held
River Dev LLC
since 2018
5 recorded transactions
Zoning & alternative use
MIXED Z · 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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 2020Property tax & assessments
Tax year 2020
Tax billed
$829
Tax year 2020
Assessed value
$9,600
Assessed 2023
Previous assessed
$8,500
+12.9% YoY
Effective rate
8.64%
On assessed value
Assessed land
$9,600
Land market value
$19,200
Total market value
$19,200
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
Industrial land
Use group
INDUSTRIAL - VACANT LAND
Status
Off-Market
Year built
1924
Heating
FORCED AIR
Stories
1
Rooms
5
Bathrooms
3
Total area
1,125 SF
Lot
0.31 ac (13,416 SF)
Zoning code
MIXED Z
APN
33-01-01-05-427-101
UPID
US43-0589851
Jurisdiction
INGHAM
Zoning & alternative use
MIXED Z · Lansing, MI
Zoning MIXED Z · permitted uses
MIXED Z · 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
1924
Heating
FORCED AIR
Stories
1
Rooms
5
Bathrooms
3
Lot
0.31 ac
Current owner
From public records · entity-resolved
River Dev LLC
Entity
Free & Clear · 8 yrs held
Mailing address
2420 N GRAND RIV AVE, LANSING, MI 48906-3914
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 19, 2025
—
Grand River Development LLC
—
Deed
related
$1,268,500 · Fifth Third Bank NA
Jan 8, 2018
$379,200
River Dev LLC
Abestos Abatement INC
Warranty Deed
—
Jun 7, 2016
$15,100
Asbestos Abatement INC
Davila,ezequiel G
Warranty Deed
—
Feb 18, 2016
$2,855
Ezequiel Davila
Treasurer Of Ingham County
Grant Deed
related
—
Mar 25, 2014
—
Ezequiel G Davila
Mier,caron J
Quit Claim 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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