Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    515 Filley St, Unit 27 Lansing, MI 48906-2906

    • Warehouses
    • 5,000 SF
    • 0.49 lot acres
    OFF-MARKET
    Last Sale
    Mar 04, 2020
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-1642626
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • SERVPRO of East Lansing / Haslett / Hardware & Home Improvement / Construction Company

    Property Details for 515 Filley St

    Year built
    1965
    Lot size
    0.49 lot acres
    Property size
    5,000 SF
    Zone code
    J & H
    Property type
    Warehouses
    APN
    33-01-01-04-302-023
    APU
    33010104302023

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Lansing
    County
    Ingham
    State
    Michigan
    Longitude
    -84.5596
    Latitude
    42.7609
    CBSA code
    29620
    CBSA name
    LANSING-EAST LANSING, MI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2020
    $5,530
    $15,200
    $73,200
    $88,400
    -
    $30,400
    $146,400
    $176,800

    Comparable in this City

    • Value Estimation
      $8,220,000
      125,060 SF

      5542 Grand Riv Ave

      WAREHOUSE, STORAGE • 125,060 SF
      5542 Grand Riv Ave, Lansing, MI 48906-9121
      View Details
    • Value Estimation
      $11,450,000
      218,000 SF

      16150 Grv Rd

      WAREHOUSE, STORAGE • 218,000 SF
      16150 Grv Rd, Lansing, MI 48906-9330
      View Details
    • Value Estimation
      $1,140,000
      48,334 SF

      2350 Prt Lansing Rd, Unit 1

      WAREHOUSE, STORAGE • 48,334 SF
      2350 Prt Lansing Rd, Lansing, MI 48906-2178
      View Details
    • Value Estimation by Request
      224 SF

      16550 Us Hwy 27

      WAREHOUSE, STORAGE • 224 SF
      16550 Us Hwy 27, Lansing, MI 48906
      View Details
    • Value Estimation
      $520,000
      7,200 SF

      16185 National Pkwy

      WAREHOUSE, STORAGE • 7,200 SF
      16185 National Pkwy, Lansing, MI 48906-9114
      View Details
    • Value Estimation by Request
      3,200 SF

      1040 Mak Tech Dr

      WAREHOUSE, STORAGE • 3,200 SF
      1040 Mak Tech Dr, Lansing, MI 48906-5626
      View Details

    Similar Nearby for Sale

    • $369,000

      Industrial Property with Fenced Storage

      Versatile industrial property with fenced outdoor storage on corner lot.
      2000 Turner St, Lansing, MI 48906
      View Details
    • Contact for pricing
      8,360 SF

      Warehouse/Office Space For Sale

      8,360 SF warehouse/office near Capital Region Airport.
      3850 Circle Dr, Lansing, MI 48906
      View Details
    • $750,000

      Lansing Industrial Property on Grand River

      Freestanding industrial building on 3.13 acres with expansion potential.
      4700 N Grand River Ave, Lansing, MI 48906
      View Details
    • Contact for pricing

      Upgraded Industrial Warehouse with Expansion Lot

      6,048 sq ft industrial warehouse with expansion potential in Lansing.
      720 Terminal Rd, Lansing, MI 48906
      View Details
    • $130,000
      2,832 SF

      Lansing Industrial Property with Storage

      Industrial property with two buildings and secured storage lots.
      919 Call St, Lansing, MI 48906
      View Details
    • $99,999
      1,288 SF

      Lansing Commercial Property Near Old Town

      Income property with high exposure near Old Town Lansing.
      229 W Cesar E Chavez Ave, Lansing, MI 48906
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Industrial/Retail Space with Extra Land

      13,822 SF industrial building with expansion potential near airport.
      4700 N Grand River Ave, Lansing, MI 48906
      View Details
    • Contact for pricing

      Lansing Warehouse with Office/Apartment

      Heated warehouse with offices/apartment, fenced yard, and three bay doors.
      207 Bell St, Lansing, MI 48906
      View Details
    • Contact for pricing

      Industrial Space on Lake Lansing

      Industrial space for lease with crane and fenced yard.
      1335 Lake Lansing Rd, Lansing, MI 48906
      View Details
    • $15 SF/Yr

      Lansing Flex Space Available

      Updated flex space suitable for a variety of businesses.
      205 Bell St, Lansing, MI 48906
      View Details
    • Contact for pricing

      Industrial Building Near Lake Lansing

      3260 sqft industrial building with easy highway access.
      2311 N High St, Lansing, MI 48906
      View Details
    • $12 SF/Yr
      4,284 SF

      Turn-Key Grow Facility For Lease

      Former State-licensed marijuana grow facility in Lansing available for lease.
      914 E Gier St, Lansing, MI 48906
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    515 Filley St, Unit 27
    Lansing, MI 48906-2906
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!