Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    4136 Legacy Pkwy, Unit 2 Lansing, MI 48911-4265

    • Office buildings
    • 7,383 SF
    • 20.60 lot acres
    OFF-MARKET
    Value Estimations
    $485,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-1080856
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Sara Ziel, Counselor / Child Psychologist / Family Counselor
    • Pamela Peterson, Counselor / Psychotherapist / Child Psychologist
    • Krista Stevens , Counselor / Life Coach / Child Psychologist
    • Volunteers of america lansing mi / Store
    • Melissa Black, Psychiatric Nurse Practitioner / Psychiatrist / Counselor

    Property Details for 4136 Legacy Pkwy

    Year built
    2005
    Lot size
    20.60 lot acres
    Property size
    7,383 SF
    Zone code
    C-2
    Property type
    Office buildings
    APN
    33-25-05-02-201-002
    APU
    33250502201002

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $400,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $569,000
      Market price range: $343k - $960k
      AI Estimate
      $318,000
      Market price range: $211k - $493k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $610,000
      Current use
      RESTAURANT
      $645,000
      Change: +6% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $630,000
      Change: +3% Conversion: Difficult
      MEDICAL BUILDING
      $630,000
      Change: +3% Conversion: Easy
      RETAIL STORES
      $525,000
      Change: -13% Conversion: Moderate

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Lansing
    County
    Ingham
    State
    Michigan
    Longitude
    -84.5091
    Latitude
    42.6812
    CBSA code
    29620
    CBSA name
    LANSING-EAST LANSING, MI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $24,436
    $165,900
    $208,000
    $373,900
    -
    $331,800
    $416,000
    $747,800

    Comparable in this City

    • Value Estimation
      $645,000
      24,992 SF

      4039 Legacy Pkwy

      OFFICE BUILDING • 24,992 SF
      4039 Legacy Pkwy, Lansing, MI 48911-4336
      View Details
    • Value Estimation by Request
      16,000 SF

      1545 Keystone Ave, Unit 11

      OFFICE BUILDING • 16,000 SF
      1545 Keystone Ave, Lansing, MI 48911-4039
      View Details
    • Value Estimation
      $440,000
      11,849 SF

      3535 Moores Riv Dr

      OFFICE BUILDING • 11,849 SF
      3535 Moores Riv Dr, Lansing, MI 48911-1073
      View Details
    • Value Estimation
      $435,000
      7,608 SF

      3380 Pinetree Rd, Unit 5

      OFFICE BUILDING • 7,608 SF
      3380 Pinetree Rd, Lansing, MI 48911-4207
      View Details
    • Value Estimation
      $760,000
      19,673 SF

      1423 Keystone Ave

      OFFICE BUILDING • 19,673 SF
      1423 Keystone Ave, Lansing, MI 48911
      View Details
    • Value Estimation
      $960,000
      15,000 SF

      1400 Keystone Ave, Unit 26

      OFFICE BUILDING • 15,000 SF
      1400 Keystone Ave, Lansing, MI 48911-4038
      View Details

    Similar Nearby for Sale

    • $400,000
      8,360 SF

      Lansing Warehouse: $400K

      Industrial warehouse, office space, fenced storage.
      3850 Circle Dr, Lansing, MI 48911
      View Details
    • $935,000
      8,450 SF

      Lansing Medical Office Investment

      8,450 SF, 8.5% Cap Rate, NNN Lease
      5400 Pennsylvania Ave, Lansing, MI 48911
      View Details
    • $510,400
      4,471 SF

      Lansing Warehouse: $510,400

      Prime Lansing warehouse, ideal for commercial use.
      5321 Pennsylvania Ave, Lansing, MI 48911
      View Details
    • $2,000,000
      17,700 SF

      Lansing Retail Space: Prime Location

      17,700 SF Retail Building, High Traffic Area
      134 Edgewood Blvd, Lansing, MI 48911
      View Details
    • Contact for pricing
      20.00 Acres

      Sherwood Industrial Storage Yard

      Gated Yard, Building, 1.25 Acres
      0 Aurelius Rd. And Miller Rd, Lansing, MI 48911
      View Details
    • $500,000
      3,071 SF

      High-Traffic Commercial Property for Sale

      Commercial property with dual revenue streams at a high-traffic intersection.
      5101 South Pennsylvania Ave, Lansing, MI 48911
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      40,000 SF

      Lansing Office Building - 40,000 SF

      Spacious Lansing office building, ideal for various businesses.
      5840 Enterprise Dr. Lansing, MI 48911, Lansing, MI 48911
      View Details
    • Contact for pricing
      12,000 SF

      Lansing Office Space: 12,000 SF

      Prime Lansing office space, ideal location.
      5918 - 5920 Enterprise Dr. Lansing, MI 48911, Lansing, MI 48911
      View Details
    • $11 SF/Yr
      736 SF

      Lansing Retail Office Space Available

      South Lansing office suites, 736-1378 sq ft.
      6810 Cedar St, Lansing, MI 48911
      View Details
    • $11 SF/Yr
      1,956 SF

      Lansing Retail Office Suites Available

      Prime Southside location, flexible spaces.
      6810 Cedar St, Lansing, MI 48911
      View Details
    • $11 SF/Yr
      1,220 SF

      Lansing Retail Space: I-96 Access

      Prime Southside Retail, 1,220 SF Available
      6810 Cedar St, Lansing, MI 48911
      View Details
    • $9 SF/Yr
      18,000 SF

      Lansing Office Space: 1020 Long Blvd

      Prime Lansing Office, Flexible Suites Available
      1020 Long Blvd, Lansing, MI 48911
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    4136 Legacy Pkwy, Unit 2
    Lansing, MI 48911-4265
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.