Entity Owned 
For Lease
1 / 6
$9.50 SF/Yr
4500 Empire Way, Lansing, MI 48917
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Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL LOFT BUILDING
Year built
1989
Total area
41,900 SF
Lot
2.28 ac (99,317 SF)
Zoning code
NONE
APN
040 084 800 130 00
UPID
US43-2128199
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Gym & Fitness Center
-
Freight Service Logistics Company
-
Factory Industrial Manufacturer
-
Auto Repair Shop
-
Home Health Care Service Adult Day Care Center
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.83M
Owner & transaction history
since 2022
Last sale
$2.7M
2 recorded transactions
Zoning & alternative use
NONE · Lansing, MI
Top alternative use upside
Restaurant
$4.1M
+158.6%
Commercial (general)
$3.7M
+132.0%
Retail stores
$3.5M
+123.4%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
6 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
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Summary
1
Valuation conclusion
Included free
Estimated market value
$2.83M
Value range
$2.55M – $3.11M
±10% around blend
Estimated value / SF
$68 / SF
Confidence
Property data
100
Comparable evidence
60
Income certainty
100
$2.55M
blend $2.83M
$3.11M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
41,900 SF
Lot area
2.28 ac
Year built
1989
Stories
1
APN
040 084 800 130 00
Zoning
NONE
Assessed value
$893,600
Annual tax
$54,106
3
Income approach: direct capitalization
Partial preview
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$54,106
Selected cap rate
4
Sales comparison
Partial preview
Too few qualifying comparables for a sales-approach estimation.
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$2.83M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Alternative use screening
Partial preview
Top alternative use
Restaurant
Gross theoretical uplift
+159%
vs current-use indication
Commercial (general)
Retail Stores
Medical Building
Auto Repair, Garage
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
NOI build-up · 9 steps
Market rates by use type
PDF export
Professional Plan · 30 reports
from $99/month
from $99/month
Overview
Selected market yield
9.60%
Selected cap rate for this industrial properties
Derived from the Lansing market rent, vacancy and expense benchmarks for this use type.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 9.60%
9.0%
NOI (est.)
$280k *
Last sale · Nov 2022
$2.65M
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$2.92M
Move the market yield to see immediate price impact.
Value / SF
$70
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
9.10%9.60%10.10%
$252k
$2.77M
$2.63M
$2.50M
$280k
$3.08M
$2.92M
$2.77M
$308k
$3.38M
$3.21M
$3.05M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$54,106
Tax year 2023
Assessed value
$893,600
Assessed 2024
Previous assessed
$893,600
+0.0% YoY
Effective rate
6.05%
On assessed value
Total market value
$1,787,200
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Industrial properties
Use group
INDUSTRIAL LOFT BUILDING
Status
For Lease
Year built
1989
Heating
FORCED AIR
Stories
1
Total area
41,900 SF
Lot
2.28 ac (99,317 SF)
Zoning code
NONE
APN
040 084 800 130 00
UPID
US43-2128199
Jurisdiction
EATON
Zoning & alternative use
NONE · Lansing, MIZoning NONE · permitted uses
NONE · Lansing, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1989
Heating
FORCED AIR
Stories
1
Lot
2.28 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
NONE
Jurisdiction
Lansing, MI
Recorded code
NONE
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for NONE in Lansing, MI.
What opens after registration
Zoning profile
2 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 30 · 300 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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