Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$1,000,000
Distribution centers
5505 Pennsylvania Ave Lansing, MI 48911-4013
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US43-0696913
Property summary
AI-generated overview
This 17,014-square-foot vacant warehouse in Lansing, Michigan, presents a compelling investment or owner-user opportunity. Located at 5505 S Pennsylvania Ave, this freestanding light industrial/retail building boasts excellent visibility and pylon signage potential. Built in 1968 on a 1.07-acre lot, the property features a 15-foot ceiling height, one 10-foot overhead garage door, and ample parking (27 paved spots). The building is equipped with 3-phase, 240-volt, 400-amp power, suspended air heaters, and fluorescent lighting. Currently zoned SC (Suburban Commercial), allowing for diverse uses including retail, industrial, and office. Its strategic location offers easy access to major freeways (I-96, I-496, and US 127), proximity to Midway Industrial Park, and strong brand synergy with neighboring national and local businesses. The property's existing structure provides a solid foundation for immediate occupancy or redevelopment, catering to a wide range of business needs. This is an exceptional opportunity to acquire a well-situated industrial property in a thriving Lansing market. The property is currently vacant.
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1968
Total area
17,014 SF
Lot
1.07 ac (46,479 SF)
Zoning code
H LT IN
APN
33-01-05-03-177-111
UPID
US43-0696913
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
-
United Wholesale Grocery Co Grocery & Convenience Store Distribution Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.01M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$842k
Blend (final)
Blend
$1.00M
Owner & transaction history
Pennsylvania Proeprty Investments L · 4 yrs held
Pennsylvania Proeprty Investments L
since 2021
Last sale
$1.0M
3 recorded transactions
Zoning & alternative use
H LT IN · Lansing, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.5M
+50.0%
Auto repair, garage
$1.5M
+46.7%
Medical building
$1.4M
+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
$995,000
ML approach
$1,005,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$990,000
Current use
RESTAURANT
$1,485,000
Change: +50% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,450,000
Change: +47% · Conversion: Easy
MEDICAL BUILDING
$1,445,000
Change: +46% · Conversion: Difficult
OFFICE BUILDING
$1,405,000
Change: +42% · Conversion: Difficult
RETAIL STORES
$1,215,000
Change: +23% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$1,090,000
Change: +10% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$1,065,000
Change: +8% · Conversion: Easy
Blend value · Realmo final
$1.00M
Range $900k – $1.10M · ±10% · vs last sale $1.00M (Nov 5 2021)
Last sale anchor
$1.00M
Nov 5 2021
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
$59 / 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 2020Property tax & assessments
Tax year 2020
Tax billed
$20,853
Tax year 2020
Assessed value
$437,500
Assessed 2023
Previous assessed
$424,800
+3.0% YoY
Effective rate
4.77%
On assessed value
Assessed land
$92,600
Assessed improvement
$344,900
Land market value
$185,200
Improvement market value
$689,800
Total market value
$875,000
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
1968
Heating
YES
Stories
1
Bathrooms
1
Total area
17,014 SF
Lot
1.07 ac (46,479 SF)
Zoning code
H LT IN
APN
33-01-05-03-177-111
UPID
US43-0696913
Jurisdiction
INGHAM
Zoning & alternative use
H LT IN · Lansing, MI
Zoning H LT IN · permitted uses
H LT IN · 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
WAREHOUSE, STORAGE Current
Est. value
$990,000
RESTAURANT
Est. value
$1.5M
AUTO REPAIR, GARAGE
Est. value
$1.5M
MEDICAL BUILDING
Est. value
$1.4M
OFFICE BUILDING
Est. value
$1.4M
RETAIL STORES
Est. value
$1.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.1M
INDUSTRIAL (GENERAL)
Est. value
$1.1M
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
1968
Heating
YES
Stories
1
Bathrooms
1
Lot
1.07 ac
Current owner
From public records · entity-resolved
Pennsylvania Proeprty Investments L
Entity
Mailing address
25700 W 8TH MILE RD, SOUTHFIELD, MI 48033-3750
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 5, 2021
$1,000,000
Pennsylvania Proeprty Investments L
United Properties Group LLC
Warranty Deed
$500,000 · Mekani Holdings LLC
Feb 12, 2004
—
United Properties Group LLC
United Wholesale Grocery
Quit Claim Deed
related
$17,750,000 · Fifth Third Bank
—
—
United Properties Group LLC
—
Deed Of Trust
related
$6,900,000 · Comerica Bank
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 5505 Pennsylvania Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
