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Property profile & analytics
OFF-MARKET
Estimated value
$1,140,000
Warehouses
514 Erie St Lansing, MI 48912-1206
Individually Owned
3-yr Hold
Free & Clear
Property ID
US43-4738324
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1964
Total area
14,062 SF
Lot
1.45 ac (63,162 SF)
APN
33-01-01-16-228-292
UPID
US43-4738324
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
$1.28M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$903k
Blend (final)
Blend
$1.14M
Owner & transaction history
Stadium North Senior Lofts Ltd Divi · 3 yrs held
Stadium North Senior Lofts Ltd Divi
since 2022
Last sale
$1.2M
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.2M
+50.0%
Auto repair, garage
$1.2M
+46.7%
Medical building
$1.2M
+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
$1,230,000
ML approach
$1,275,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$820,000
Current use
RESTAURANT
$1,225,000
Change: +50% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,200,000
Change: +47% · Conversion: Easy
MEDICAL BUILDING
$1,195,000
Change: +46% · Conversion: Difficult
OFFICE BUILDING
$1,160,000
Change: +42% · Conversion: Difficult
RETAIL STORES
$1,005,000
Change: +23% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$900,000
Change: +10% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$880,000
Change: +8% · Conversion: Easy
Blend value · Realmo final
$1.14M
Range $1.03M – $1.25M · ±10% · vs last sale $1.15M (Dec 21 2022)
Last sale anchor
$1.15M
Dec 21 2022
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
$81 / 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
$22,133
Tax year 2022
Assessed value
$287,100
Assessed 2023
Previous assessed
$15,900
+1,705.7% YoY
Effective rate
7.71%
On assessed value
Assessed land
$90,100
Assessed improvement
$197,000
Land market value
$180,200
Improvement market value
$394,000
Total market value
$574,200
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1964
Heating
FORCED AIR
Buildings
2
Stories
2
Total area
14,062 SF
Lot
1.45 ac (63,162 SF)
APN
33-01-01-16-228-292
UPID
US43-4738324
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
$820,000
RESTAURANT
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$1.2M
MEDICAL BUILDING
Est. value
$1.2M
OFFICE BUILDING
Est. value
$1.2M
RETAIL STORES
Est. value
$1.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$900,000
INDUSTRIAL (GENERAL)
Est. value
$880,000
WAREHOUSE, STORAGE Current
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
OFFICE BUILDING
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
INDUSTRIAL (GENERAL)
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
1964
Heating
FORCED AIR
Stories
2
Buildings
2
Lot
1.45 ac
Current owner
From public records · entity-resolved
Stadium North Senior Lofts Ltd Divi
Individual
Free & Clear · 3 yrs held
Mailing address
9100 CTR POINTE DR STE #210, WEST CHESTER, OH 45069-4847
Ownership since
2022
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
Dec 21, 2022
$1,150,000
Stadium North Senior Lofts Ltd Divi
4000 North Grand River LLC
Deed
—
Feb 1, 2021
—
4000 North Grand River LLC
Judith A Eyde
Warranty Deed
—
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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