New search
Property profile & analytics
OFF-MARKET
Estimated value
$1,625,000
Warehouses
3610 Frst Rd, Lansing, MI 48910-3716
Individually Owned
6-yr Hold
Absentee Owner
Free & Clear
Property ID
US43-1963590
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Total area
16,562 SF
Lot
11.44 ac (498,326 SF)
Zoning code
D-1 PRO
APN
33-01-01-25-301-406
UPID
US43-1963590
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
-
MSU Foundation University
-
LyondellBasell Industrial Manufacturer Production Facility
-
University Health Park - Alliance Building University
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.06M
Comparable Approach
Comparable
$1.64M
Blend (final)
Blend
$1.63M
Owner & transaction history
University Corporate Research · 6 yrs held
University Corporate Research
since 2019
2 recorded transactions
Zoning & alternative use
D-1 PRO · Lansing, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.4M
+50.0%
Auto repair, garage
$1.4M
+46.7%
Medical building
$1.4M
+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
by Request
CAP Approach
CAP Return
Estimation
6%
$2,225,000
6.5%
$2,055,000
7%
$1,910,000
Alternative Use
Use
Estimation
RESTAURANT
$1,445,000
Change: +50% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,415,000
Change: +47% · Conversion: Easy
MEDICAL BUILDING
$1,410,000
Change: +46% · Conversion: Difficult
OFFICE BUILDING
$1,155,000
Change: +20% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,065,000
Change: +10% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$1,040,000
Change: +8% · Conversion: Easy
RETAIL STORES
$995,000
Change: +3% · Conversion: Moderate
Blend value · Realmo final
$1.63M
Range $1.46M – $1.79M · ±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
$98 / 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
$42,781
Tax year 2022
Assessed value
$1,279,000
Assessed 2023
Previous assessed
$973,100
+31.4% YoY
Effective rate
3.34%
On assessed value
Assessed land
$626,200
Assessed improvement
$652,800
Land market value
$1,252,400
Improvement market value
$1,305,600
Total market value
$2,558,000
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
Heating
SPACE
Buildings
4
Stories
1
Total area
16,562 SF
Lot
11.44 ac (498,326 SF)
Zoning code
D-1 PRO
APN
33-01-01-25-301-406
UPID
US43-1963590
Jurisdiction
INGHAM
Zoning & alternative use
D-1 PRO · Lansing, MI
Zoning D-1 PRO · permitted uses
D-1 PRO · 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
RESTAURANT
Est. value
$1.4M
AUTO REPAIR, GARAGE
Est. value
$1.4M
MEDICAL BUILDING
Est. value
$1.4M
OFFICE BUILDING
Est. value
$1.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.1M
INDUSTRIAL (GENERAL)
Est. value
$1.0M
RETAIL STORES
Est. value
$995,000
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
Heating
SPACE
Stories
1
Buildings
4
Lot
11.44 ac
Current owner
From public records · entity-resolved
University Corporate Research
Individual
Free & Clear · 6 yrs held
Mailing address
325 E GRAND RIV AVE STE #275, EAST LANSING, MI 48823-4378
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 13, 2019
—
University Corporate Research
Michigan St University Foundat
Quit Claim Deed
related
—
Dec 13, 2018
—
Mclaren Health Care Corp
University Corporate Research
Warranty Deed
related
—
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 3610 Frst Rd?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
