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Property profile & analytics
OFF-MARKET
Estimated value
$3,985,000
Warehouses
3524 Canal Rd Lansing, MI 48917-8586
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US43-2241612
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1999
Total area
60,000 SF
Lot
10.08 ac (439,085 SF)
Zoning code
NONE
APN
040 033 200 044 00
UPID
US43-2241612
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
-
United Rentals (Bike/Boat/Book/etc) Store Rental Equipment Company
-
Cameron Ashley Building Products, Inc. Building Supply Industrial Manufacturer
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.12M
Blend (final)
Blend
$3.99M
Owner & transaction history
3524 Canal Rd LLC · 4 yrs held
3524 Canal Rd LLC
since 2021
Last sale
$4.0M
5 recorded transactions
Zoning & alternative use
NONE · Lansing, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$5.2M
+50.0%
Auto repair, garage
$5.1M
+46.7%
Medical building
$5.1M
+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
$3,925,000
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
$3,490,000
Current use
RESTAURANT
$5,235,000
Change: +50% · Conversion: Difficult
AUTO REPAIR, GARAGE
$5,120,000
Change: +47% · Conversion: Easy
MEDICAL BUILDING
$5,100,000
Change: +46% · Conversion: Difficult
RETAIL STORES
$4,285,000
Change: +23% · Conversion: Moderate
COMMERCIAL (GENERAL)
$2,900,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$3.99M
Range $3.59M – $4.38M · ±10% · vs last sale $3.95M (Oct 22 2021)
Last sale anchor
$3.95M
Oct 22 2021
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
$66 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$80,560
Tax year 2023
Assessed value
$1,476,600
Assessed 2024
Previous assessed
$1,360,400
+8.5% YoY
Effective rate
5.46%
On assessed value
Total market value
$2,953,200
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1999
Heating
FORCED AIR
Stories
1
Total area
60,000 SF
Lot
10.08 ac (439,085 SF)
Zoning code
NONE
APN
040 033 200 044 00
UPID
US43-2241612
Jurisdiction
EATON
Zoning & alternative use
NONE · Lansing, MI
Zoning NONE · permitted uses
NONE · 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
$3.5M
RESTAURANT
Est. value
$5.2M
AUTO REPAIR, GARAGE
Est. value
$5.1M
MEDICAL BUILDING
Est. value
$5.1M
RETAIL STORES
Est. value
$4.3M
COMMERCIAL (GENERAL)
Est. value
$2.9M
WAREHOUSE, STORAGE Current
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RETAIL STORES
COMMERCIAL (GENERAL)
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
1999
Heating
FORCED AIR
Stories
1
Lot
10.08 ac
Current owner
From public records · entity-resolved
3524 Canal Rd LLC
Entity
Mailing address
344 E WISCONSIN AVE, LAKE FOREST, IL 60045-1468
Ownership since
2021
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
Jun 2, 2022
—
3524 S Canal Road LLC
—
Deed
related
$2,567,500 · Evergreen Bank Group
Oct 22, 2021
$3,950,000
3524 Canal Rd LLC
Canal Ventures LLC
Warranty Deed
—
Nov 8, 2019
—
Canal Ventures LLC
—
Deed
related
—
Feb 25, 2019
$2,900,000
Canal Ventures LLC
Lucratus LLC
Warranty Deed
$2,880,000 · Chemical Bank
Sep 22, 2016
—
Lucratus LLC
—
Deed
related
$940,000 · Michigan State University FCU
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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