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Property profile & analytics
OFF-MARKET
Estimated value
$2,895,000
Distribution centers
3400 Grand Riv Ave Lansing, MI 48906-2709
Entity Owned
16-yr Hold
Free & Clear
Property ID
US43-0226092
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1987
Total area
56,956 SF
Lot
10.5 ac (457,380 SF)
Zoning code
G-2 WHO
APN
33-01-01-05-105-013
UPID
US43-0226092
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
-
Records Management Services State Government Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.17M
Blend (final)
Blend
$2.90M
Owner & transaction history
State Building Authority · 16 yrs held
State Building Authority
since 2009
3 recorded transactions
Zoning & alternative use
G-2 WHO · Lansing, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$4.8M
+51.1%
Neighborhood: shopping center
$3.7M
+15.2%
Industrial (general)
$3.6M
+12.6%
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
WAREHOUSE, STORAGE
$3,175,000
Current use
OFFICE BUILDING
$4,795,000
Change: +51% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$3,655,000
Change: +15% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$3,575,000
Change: +13% · Conversion: Easy
RETAIL STORES
$3,275,000
Change: +3% · Conversion: Moderate
Blend value · Realmo final
$2.90M
Range $2.61M – $3.18M · ±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
$51 / 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
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
1987
Heating
SPACE
Buildings
3
Stories
1
Bathrooms
1
Total area
56,956 SF
Lot
10.5 ac (457,380 SF)
Zoning code
G-2 WHO
APN
33-01-01-05-105-013
UPID
US43-0226092
Jurisdiction
INGHAM
Zoning & alternative use
G-2 WHO · Lansing, MI
Zoning G-2 WHO · permitted uses
G-2 WHO · 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
$3.2M
OFFICE BUILDING
Est. value
$4.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$3.7M
INDUSTRIAL (GENERAL)
Est. value
$3.6M
RETAIL STORES
Est. value
$3.3M
WAREHOUSE, STORAGE Current
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
1987
Heating
SPACE
Stories
1
Buildings
3
Bathrooms
1
Lot
10.5 ac
Current owner
From public records · entity-resolved
State Building Authority
Entity
Free & Clear · 16 yrs held
Mailing address
320 S WALNUT ST, LANSING, MI 48933-2014
Ownership since
2009
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
Dec 16, 2009
—
State Building Authority
State Of Mi
Quit Claim Deed
related
—
Mar 18, 2009
$10,683,537
State Of Mi
Deyoung,john E & Irmgard
Warranty Deed
related
—
Sep 19, 2007
—
Tri-state Hospital Supply Corp
Gcc-2 LLC
Warranty Deed
related
$7,500,000 · Franklin Bank
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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