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Property profile & analytics
OFF-MARKET
Estimated value
$1,265,000
Distribution centers
415 Baker St Lansing, MI 48910-1542
Individually Owned
10-yr Hold
~
Est. High Equity
Property ID
US43-1588458
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1990
Total area
44,399 SF
Lot
5.57 ac (242,629 SF)
Zoning code
I HVY
APN
33-01-01-21-401-101
UPID
US43-1588458
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
-
O'Leary Paint Company Hardware & Home Improvement Building Supply
-
Wise Paints Hardware & Home Improvement Building Supply
-
Auto Glass USA of Lansing Auto Repair Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$835k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.68M
Blend (final)
Blend
$1.27M
Owner & transaction history
David M Oleary · 10 yrs held
David M Oleary
since 2016
7 recorded transactions
Zoning & alternative use
I HVY · Lansing, MI
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
$835,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.27M
Range $1.14M – $1.39M · ±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
$28 / 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 2020Property tax & assessments
Tax year 2020
Tax billed
$54,285
Tax year 2020
Assessed value
$893,100
Assessed 2023
Previous assessed
$894,700
-0.2% YoY
Effective rate
6.08%
On assessed value
Assessed land
$163,400
Assessed improvement
$729,700
Land market value
$326,800
Improvement market value
$1,459,400
Total market value
$1,786,200
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
1990
Heating
YES
Stories
1
Bathrooms
2
Total area
44,399 SF
Lot
5.57 ac (242,629 SF)
Zoning code
I HVY
APN
33-01-01-21-401-101
UPID
US43-1588458
Jurisdiction
INGHAM
Zoning & alternative use
I HVY · Lansing, MIZoning I HVY · permitted uses
I HVY · Lansing, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
code of ordinances
Building & site characteristics
From public records
Year built
1990
Heating
YES
Stories
1
Bathrooms
2
Lot
5.57 ac
Current owner
From public records · entity-resolved
David M Oleary
Individual
Mailing address
300 E OAKLAND AVE, LANSING, MI 48906-5259
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 31, 2023
—
Ojamieson Properties LLC
—
Deed
related
$495,000 · Capitol National Bank
Jul 31, 2017
—
Ojamieson Properties LLC
—
Deed
related
$1,000,000 · Mercantile Bk/mi
Jan 15, 2016
—
David M Oleary
Tri-o Dev LLC
Quit Claim Deed
related
—
Apr 19, 2011
$1,600,000
Tri-o Dev LLC
Oleary,david J & Janet E
Warranty Deed
$890,000 · Fifth Third Bank
—
—
Tri-o Development LLC
—
Deed Of Trust
related
$900,000 · Fifth Third Bank
—
—
Tri-o Dev LLC
—
Loan Modification
related
$1,000,000 · Fifth Third Bk
—
—
Ojamieson Properties LLC
—
Deed Of Trust
related
$1,000,000 · Mercantile Bk/mi
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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