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Property profile & analytics
OFF-MARKET
Estimated value
$5,075,000
Manufacturing properties
4808 Empire Way, Lansing, MI 48917-9579
Entity Owned
1-yr Hold
Free & Clear
Property ID
US43-4207465
Property summary
AI-generated overview
Exceptional investment opportunity in Lansing, Michigan. This single-story, 50,000-square-foot warehouse boasts a 7.35% cap rate and is situated on a 4.23-acre lot. Built in 2016, the property features 2,248 square feet of office space and 47,665 square feet of warehouse space, perfect for industrial operations. The building includes six loading docks and a 25-foot ceiling height, providing ample space for efficient logistics. The property is zoned I-Industrial and benefits from a 100% occupancy rate under a long-term net lease with TFT Global, Inc., a sequencing center for door panels supplying the nearby GM Delta Assembly plant (only 3 miles away). The asking price is $5,440,000, translating to $108.80 per square foot. This is a prime opportunity for investors seeking a stable, high-return industrial asset in a strategic location. The property's strong tenant and location contribute to its exceptional investment potential. Detailed financial information is available upon request.
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
2016
Total area
50,000 SF
Lot
4.22 ac (183,823 SF)
Zoning code
NONE
APN
040 084 800 170 01
UPID
US43-4207465
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
-
Wiebe Transport Trucking Company
-
TFT Global Inc. Warehouse & Storage
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$5.00M
Comparable Approach
Comparable
$3.27M
Blend (final)
Blend
$5.08M
Owner & transaction history
Md9 Lansing LLC · 1 yrs held
Md9 Lansing LLC
since 2025
Last sale
$5.2M
2 recorded transactions
Zoning & alternative use
NONE · Lansing, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$5.9M
+210.9%
Restaurant
$4.9M
+158.6%
Commercial (general)
$4.4M
+132.0%
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
$4,905,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$5,415,000
6.5%
$5,000,000
7%
$4,640,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$5,885,000
Change: +211% · Conversion: Difficult
RESTAURANT
$4,895,000
Change: +159% · Conversion: Difficult
COMMERCIAL (GENERAL)
$4,390,000
Change: +132% · Conversion: Difficult
RETAIL STORES
$4,225,000
Change: +123% · Conversion: Moderate
MEDICAL BUILDING
$3,845,000
Change: +103% · Conversion: Difficult
AUTO REPAIR, GARAGE
$3,710,000
Change: +96% · Conversion: Easy
Blend value · Realmo final
$5.08M
Range $4.57M – $5.58M · ±10% · vs last sale $5.20M (May 5 2025)
Last sale anchor
$5.20M
May 5 2025
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
$102 / 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
$97,878
Tax year 2023
Assessed value
$1,828,400
Assessed 2024
Previous assessed
$1,773,700
+3.1% YoY
Effective rate
5.35%
On assessed value
Total market value
$3,656,800
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
2016
Heating
FORCED AIR
Stories
1
Total area
50,000 SF
Lot
4.22 ac (183,823 SF)
Zoning code
NONE
APN
040 084 800 170 01
UPID
US43-4207465
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
OFFICE BUILDING
Est. value
$5.9M
RESTAURANT
Est. value
$4.9M
COMMERCIAL (GENERAL)
Est. value
$4.4M
RETAIL STORES
Est. value
$4.2M
MEDICAL BUILDING
Est. value
$3.8M
AUTO REPAIR, GARAGE
Est. value
$3.7M
OFFICE BUILDING
RESTAURANT
COMMERCIAL (GENERAL)
RETAIL STORES
MEDICAL BUILDING
AUTO REPAIR, GARAGE
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
2016
Heating
FORCED AIR
Stories
1
Lot
4.22 ac
Current owner
From public records · entity-resolved
Md9 Lansing LLC
Entity
Free & Clear · 1 yrs held
Mailing address
4808 EMPIRE WAY, LANSING, MI 48917-9579
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
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
May 5, 2025
$5,200,000
Md9 Lansing LLC
Tft Global Properties LLC
Special Warranty Deed
—
Aug 31, 2017
—
Properties LLC
—
Deed
related
$4,300,000 · Tft Global Usaholdings INC
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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