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Property profile & analytics
OFF-MARKET
Estimated value
$3,325,000
Warehouses
4900 Contec Dr 2 Lansing, MI 48910-7101
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US43-1612941
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1995
Total area
55,340 SF
Lot
16.79 ac (731,372 SF)
APN
33-01-01-34-454-011
UPID
US43-1612941
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
-
Let's Play Soccer, Lansing Sports Field & Court Sports School
-
Soccerzone Gym & Fitness Center Sports Field & Court
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.30M
Blend (final)
Blend
$3.33M
Owner & transaction history
Lets Play Sports INC · 3 yrs held
Lets Play Sports INC
since 2023
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$4.8M
+50.0%
Auto repair, garage
$4.7M
+46.7%
Medical building
$4.7M
+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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$3,220,000
Current use
RESTAURANT
$4,830,000
Change: +50% · Conversion: Difficult
AUTO REPAIR, GARAGE
$4,720,000
Change: +47% · Conversion: Easy
MEDICAL BUILDING
$4,705,000
Change: +46% · Conversion: Difficult
OFFICE BUILDING
$3,865,000
Change: +20% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$3,550,000
Change: +10% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$3,470,000
Change: +8% · Conversion: Easy
RETAIL STORES
$3,320,000
Change: +3% · Conversion: Moderate
Blend value · Realmo final
$3.33M
Range $2.99M – $3.66M · ±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
$60 / 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
$109,630
Tax year 2022
Assessed value
$1,758,400
Assessed 2023
Previous assessed
$1,364,900
+28.8% YoY
Effective rate
6.23%
On assessed value
Assessed land
$629,800
Assessed improvement
$1,128,600
Land market value
$1,259,600
Improvement market value
$2,257,200
Total market value
$3,516,800
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1995
Heating
SPACE
Buildings
2
Stories
1
Total area
55,340 SF
Lot
16.79 ac (731,372 SF)
APN
33-01-01-34-454-011
UPID
US43-1612941
Jurisdiction
INGHAM
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$3.2M
RESTAURANT
Est. value
$4.8M
AUTO REPAIR, GARAGE
Est. value
$4.7M
MEDICAL BUILDING
Est. value
$4.7M
OFFICE BUILDING
Est. value
$3.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$3.6M
INDUSTRIAL (GENERAL)
Est. value
$3.5M
RETAIL STORES
Est. value
$3.3M
WAREHOUSE, STORAGE Current
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
Year built
1995
Heating
SPACE
Stories
1
Buildings
2
Lot
16.79 ac
Current owner
From public records · entity-resolved
Lets Play Sports INC
Entity
Mailing address
7876 SHEPHERDS GLN RD, KALAMAZOO, MI 49009-9789
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 13, 2023
—
Lets Play Sports INC
Jajdo II LLC
Warranty Deed
$2,339,190 · Legacy Bank
May 18, 2011
—
Lets Play Sports INC
Jado II LLC
Grant Deed
related
—
Jan 25, 2007
—
County Of Ingham Michigan
Soccer Zone INC
Quit Claim Deed
related
—
—
—
Jado II LLC
—
Deed Of Trust
related
$3,000,000 · Clark James L Trust
—
—
Jado II LLC
—
Deed Of Trust
related
$100,000 · Michael B Garrett
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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