Individually Owned Property summary
AI-generated overview
This exceptional 3,162 square foot industrial building presents a rare opportunity in Lansing, Michigan. Located on a 0.31-acre lot at 2921 W Saginaw, this six-bay structure is currently configured as an automotive repair facility, showcasing its versatility and potential for diverse uses. The high-traffic location ensures excellent visibility and accessibility, ideal for attracting customers. The property is currently leased on a month-to-month basis, with the tenant expressing willingness to negotiate a new lease with a prospective buyer. This presents a unique chance for both business owners seeking expansion and investors looking for a strong income-generating asset. The building's size and layout offer ample space for various commercial operations, promising significant return on investment. Its prime location within Lansing makes it an attractive proposition for a wide range of businesses. Don't miss this chance to acquire a well-situated, functional industrial property with substantial growth potential. The asking price is $350,000.
Property profile
Verified
Property type
Auto shops
Use group
AUTO REPAIR, GARAGE
Year built
1952
Total area
3,162 SF
Lot
0.31 ac (13,286 SF)
Zoning code
E LOCAL
APN
33-21-01-18-203-032
UPID
US43-0950199
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Auto Repair Shop
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$250k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$285k
Owner & transaction history
since 2015
3 recorded transactions
Zoning & alternative use
E LOCAL · Lansing, MI
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Sensitivity value band
Source audit · 6 inputs
PDF export
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Summary
1
Valuation conclusion
Included free
Estimated market value
$285k
Value range
$257k – $314k
±10% around blend
Estimated value / SF
$90 / SF
Confidence
Property data
100
Market benchmarks
67
Comparable evidence
60
$257k
blend $285k
$314k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
3,162 SF
Lot area
0.31 ac
Year built
1952
Stories
1
APN
33-21-01-18-203-032
Zoning
E LOCAL
Assessed value
$120,200
Annual tax
$8,468
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Too few qualifying comparables for a sales-approach estimation.
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$285k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 62 sales
$85
+6%
County 70 sales
$101
-10%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $90/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Not available
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: replacement-cost inputs are not on file.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Market rates by use type
PDF export
Professional Plan · 30 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$120k
Move the market yield to see immediate price impact.
Value / SF
$38
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$8k
$151k
$108k
$84k
$8k
$168k
$120k
$93k
$9k
$185k
$132k
$103k
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$8,468
Tax year 2022
Assessed value
$120,200
Assessed 2023
Previous assessed
$109,400
+9.9% YoY
Effective rate
7.04%
On assessed value
Assessed land
$42,900
Assessed improvement
$77,300
Land market value
$85,800
Improvement market value
$154,600
Total market value
$240,400
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Auto shops
Use group
AUTO REPAIR, GARAGE
Status
Off-Market
Year built
1952
Heating
SPACE
Stories
1
Total area
3,162 SF
Lot
0.31 ac (13,286 SF)
Zoning code
E LOCAL
APN
33-21-01-18-203-032
UPID
US43-0950199
Jurisdiction
INGHAM
Zoning & alternative use
E LOCAL · Lansing, MIZoning E LOCAL · permitted uses
E LOCAL · Lansing, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Building & site characteristics
From public records
Year built
1952
Heating
SPACE
Stories
1
Lot
0.31 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
E LOCAL
Jurisdiction
Lansing, MI
Recorded code
E LOCAL
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for E LOCAL in Lansing, MI.
What opens after registration
Zoning profile
2 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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