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Property profile & analytics
OFF-MARKET
Estimated value
$690,000
Warehouses
324 Es St Lansing, MI 48910-1627
Entity Owned
Free & Clear
Property ID
US43-0990649
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2000
Total area
8,937 SF
Lot
1.78 ac (77,537 SF)
Zoning code
H LT IN
APN
33-01-01-21-263-022
UPID
US43-0990649
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
$435k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$694k
Blend (final)
Blend
$690k
Owner & transaction history
CHRISTMAN CONSTRUCTORS INC
CHRISTMAN CONSTRUCTORS INC
Zoning & alternative use
H LT IN · Lansing, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$780,000
+50.0%
Auto repair, garage
$765,000
+46.7%
Medical building
$760,000
+46.2%
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
$435,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$520,000
Current use
RESTAURANT
$780,000
Change: +50% · Conversion: Difficult
AUTO REPAIR, GARAGE
$765,000
Change: +47% · Conversion: Easy
MEDICAL BUILDING
$760,000
Change: +46% · Conversion: Difficult
OFFICE BUILDING
$625,000
Change: +20% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$575,000
Change: +10% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$560,000
Change: +8% · Conversion: Easy
RETAIL STORES
$535,000
Change: +3% · Conversion: Moderate
Blend value · Realmo final
$690k
Range $621k – $759k · ±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
$77 / 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
$27,447
Tax year 2022
Assessed value
$369,400
Assessed 2023
Previous assessed
$359,400
+2.8% YoY
Effective rate
7.43%
On assessed value
Assessed land
$55,100
Assessed improvement
$314,300
Land market value
$110,200
Improvement market value
$628,600
Total market value
$738,800
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2000
Heating
SPACE
Buildings
4
Stories
1
Bathrooms
1
Total area
8,937 SF
Lot
1.78 ac (77,537 SF)
Zoning code
H LT IN
APN
33-01-01-21-263-022
UPID
US43-0990649
Jurisdiction
INGHAM
Zoning & alternative use
H LT IN · Lansing, MI
Zoning H LT IN · permitted uses
H LT IN · 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
WAREHOUSE, STORAGE Current
Est. value
$520,000
RESTAURANT
Est. value
$780,000
AUTO REPAIR, GARAGE
Est. value
$765,000
MEDICAL BUILDING
Est. value
$760,000
OFFICE BUILDING
Est. value
$625,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$575,000
INDUSTRIAL (GENERAL)
Est. value
$560,000
RETAIL STORES
Est. value
$535,000
WAREHOUSE, STORAGE Current
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
INDUSTRIAL (GENERAL)
RETAIL STORES
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
2000
Heating
SPACE
Stories
1
Buildings
4
Bathrooms
1
Lot
1.78 ac
Current owner
From public records · entity-resolved
CHRISTMAN CONSTRUCTORS INC
Entity
Free & Clear · 0 yrs held
Mailing address
324 ES ST, LANSING, MI 48910-1627
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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