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Property profile & analytics
OFF-MARKET
Estimated value
$880,000
Industrial properties
3120 Spanish Oak Dr 10 Lansing, MI 48911-4238
Entity Owned
13-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-1605991
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL LOFT BUILDING
Year built
1997
Total area
17,816 SF
Lot
1.76 ac (76,666 SF)
Zoning code
IP
APN
33-25-05-02-402-004
UPID
US43-1605991
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
Current use
Occupant on record · Public records
-
Limbach Company Construction Company
-
Floor Heat Co HVAC Service General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.02M
Blend (final)
Blend
$880k
Owner & transaction history
Dart Container Of Michigan LLC · 13 yrs held
Dart Container Of Michigan LLC
since 2013
5 recorded transactions
Zoning & alternative use
IP · Lansing, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.3M
+13.8%
Neighborhood: shopping center
$1.1M
+2.3%
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
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$1,120,000
Current use
RETAIL STORES
$1,270,000
Change: +14% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$1,145,000
Change: +2% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,035,000
Change: -7% · Conversion: Easy
Blend value · Realmo final
$880k
Range $792k – $968k · ±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
$49 / 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
$23,100
Tax year 2022
Assessed value
$418,900
Assessed 2023
Previous assessed
$370,500
+13.1% YoY
Effective rate
5.51%
On assessed value
Assessed land
$57,500
Assessed improvement
$361,400
Land market value
$115,000
Improvement market value
$722,800
Total market value
$837,800
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 properties
Use group
INDUSTRIAL LOFT BUILDING
Status
Off-Market
Year built
1997
Heating
YES
Stories
1
Total area
17,816 SF
Lot
1.76 ac (76,666 SF)
Zoning code
IP
APN
33-25-05-02-402-004
UPID
US43-1605991
Jurisdiction
INGHAM
Zoning & alternative use
IP · Lansing, MI
Zoning IP · permitted uses
IP · 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.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$1.1M
RETAIL STORES
Est. value
$1.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.1M
WAREHOUSE, STORAGE
Est. value
$1.0M
INDUSTRIAL (GENERAL) Current
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1997
Heating
YES
Stories
1
Lot
1.76 ac
Current owner
From public records · entity-resolved
Dart Container Of Michigan LLC
Entity
Mailing address
500 HOGSBACK RD, MASON, MI 48854-8523
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2013
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
May 20, 2013
—
Dart Container Of Michigan LLC
—
Loan Modification
related
$670,007,000 · Wilmington Trust (london) Ltd
Oct 26, 2011
—
Dart Container Of Mi LLC
—
Deed Of Trust
related
$522,582,000 · Oneida Investments Ltd
Jul 6, 2009
—
Dart Container Of Mi LLC
—
Loan Modification
related
$457,425,000 · Oneida Investments Ltd
—
—
Dart Container Of Michigan LLC
—
Loan Modification
related
—
—
—
Dart Container Of Michigan LLC
—
Loan Modification
related
$1,133,432,000 · Wilmington Trust (london) Ltd
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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