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Property profile & analytics
OFF-MARKET
Estimated value
$1,005,000
Manufacturing properties
510 Ml St, Leslie, MI 49251-9462
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US43-2264768
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Total area
20,000 SF
Lot
5.71 ac (248,728 SF)
Zoning code
M1 IND
APN
33-17-14-28-229-033
UPID
US43-2264768
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.23M
Blend (final)
Blend
$1.01M
Owner & transaction history
Mct Leslie Building 2 LLC · 5 yrs held
Mct Leslie Building 2 LLC
since 2021
7 recorded transactions
Zoning & alternative use
M1 IND · Leslie, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.6M
+26.5%
Warehouse, storage
$1.3M
+4.4%
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 Leslie submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Leslie 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
INDUSTRIAL (GENERAL)
$1,255,000
Current use
RETAIL STORES
$1,585,000
Change: +26% · Conversion: Moderate
WAREHOUSE, STORAGE
$1,310,000
Change: +4% · Conversion: Easy
Blend value · Realmo final
$1.01M
Range $905k – $1.11M · ±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
$50 / 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
$26,753
Tax year 2022
Assessed value
$384,750
Assessed 2023
Previous assessed
$378,500
+1.7% YoY
Effective rate
6.95%
On assessed value
Assessed land
$29,200
Assessed improvement
$355,550
Land market value
$58,400
Improvement market value
$711,100
Total market value
$769,500
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
Heating
SPACE
Buildings
2
Stories
1
Total area
20,000 SF
Lot
5.71 ac (248,728 SF)
Zoning code
M1 IND
APN
33-17-14-28-229-033
UPID
US43-2264768
Jurisdiction
INGHAM
Zoning & alternative use
M1 IND · Leslie, MI
Zoning M1 IND · permitted uses
M1 IND · Leslie, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Leslie. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$1.3M
RETAIL STORES
Est. value
$1.6M
WAREHOUSE, STORAGE
Est. value
$1.3M
INDUSTRIAL (GENERAL) Current
RETAIL STORES
WAREHOUSE, STORAGE
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
Heating
SPACE
Stories
1
Buildings
2
Lot
5.71 ac
Current owner
From public records · entity-resolved
Mct Leslie Building 2 LLC
Entity
Mailing address
787 W BELDEN AVE, ADDISON, IL 60101-4942
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 21, 2021
—
Mct Leslie Building 2 LLC
Jd Norman Leslie Building 2 LLC
Deed
—
Jul 16, 2018
—
Jd Norman Leslie Building 2 Ll
—
Grant Deed
related
$95,000,000 · Callidus Cap Corp
Jan 16, 2018
—
Jd Norman Leslie Bldg 2 LLC
—
Grant Deed
related
$70,000,000 · Wanxiang America Corp
Jan 3, 2012
—
Jd Norman Leslie Bldg 2 LLC
Len Properties LLC
Trustees Deed
$8,000,000 · Harvest Cap Credit LLC
—
—
Norman Leslie Building 2 Jd
—
Loan Modification
related
$30,000,000 · Bank Of America
—
—
Norman Leslie Building 2 Jd
—
Loan Modification
related
$30,000,000 · Bank Of America
—
—
Norman Leslie Building 2 Jd
—
Loan Modification
related
$57,000,000 · Medley Cap Corp
—
—
Norman Leslie Building 2 Jd
—
Loan Modification
related
$57,000,000 · Medley Cap Corp
—
—
Len Properties LLC
—
Deed Of Trust
related
—
—
—
Norman Leslie Building 2 Jd
—
Deed Of Trust
related
$30,000,000 · Bank Of America
—
—
Norman Leslie Building 2 Jd
—
Deed Of Trust
related
$12,500,000 · Medley Cap Corp
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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