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Property profile & analytics
OFF-MARKET
Estimated value
$8,220,000
Warehouses
5542 Grand Riv Ave Lansing, MI 48906-9121
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US43-2383446
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1990
Total area
125,060 SF
Lot
36.1 ac (1,572,516 SF)
Zoning code
LI
APN
150-035-200-001-00
UPID
US43-2383446
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
-
Phillips Pet Food & Supplies (Bike/Boat/Book/etc) Store Pet Store & Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$9.07M
Blend (final)
Blend
$8.22M
Owner & transaction history
Cl Lansing Grand River LLC · 4 yrs held
Cl Lansing Grand River LLC
since 2022
3 recorded transactions
Zoning & alternative use
LI · Lansing, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$10.9M
+56.6%
Auto repair, garage
$10.7M
+53.1%
Medical building
$10.6M
+52.6%
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
$6,970,000
Current use
RESTAURANT
$10,910,000
Change: +57% · Conversion: Difficult
AUTO REPAIR, GARAGE
$10,670,000
Change: +53% · Conversion: Easy
MEDICAL BUILDING
$10,635,000
Change: +53% · Conversion: Difficult
OFFICE BUILDING
$10,530,000
Change: +51% · Conversion: Difficult
RETAIL STORES
$7,185,000
Change: +3% · Conversion: Moderate
COMMERCIAL (GENERAL)
$6,050,000
Change: -13% · Conversion: Difficult
Blend value · Realmo final
$8.22M
Range $7.40M – $9.04M · ±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
$66 / 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
$226,174
Tax year 2022
Assessed value
$4,626,500
Assessed 2024
Previous assessed
$4,568,700
+1.3% YoY
Effective rate
4.89%
On assessed value
Assessed land
$254,950
Assessed improvement
$4,371,550
Land market value
$509,900
Improvement market value
$8,743,100
Total market value
$9,253,000
Applied tax rate
150.0000
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
1990
Heating
SPACE
Buildings
3
Stories
1
Total area
125,060 SF
Lot
36.1 ac (1,572,516 SF)
Zoning code
LI
APN
150-035-200-001-00
UPID
US43-2383446
Jurisdiction
CLINTON
Zoning & alternative use
LI · Lansing, MI
Zoning LI · permitted uses
LI · 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
$7.0M
RESTAURANT
Est. value
$10.9M
AUTO REPAIR, GARAGE
Est. value
$10.7M
MEDICAL BUILDING
Est. value
$10.6M
OFFICE BUILDING
Est. value
$10.5M
RETAIL STORES
Est. value
$7.2M
COMMERCIAL (GENERAL)
Est. value
$6.1M
WAREHOUSE, STORAGE Current
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
OFFICE BUILDING
RETAIL STORES
COMMERCIAL (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
1990
Heating
SPACE
Stories
1
Buildings
3
Lot
36.1 ac
Current owner
From public records · entity-resolved
Cl Lansing Grand River LLC
Entity
Mailing address
1111 MICHIGAN AVE STE #300, EAST LANSING, MI 48823-4050
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 13, 2023
—
Cl Lansing Grand River LLC
—
Deed
related
$1,300,000 · Citi Real Estate Funding INC
Jan 5, 2022
—
Cl Lansing Grand River LLC
Growth Properties LLC
Deed
$10,330,000 · Mcreif Subreit LLC
Nov 12, 2008
—
Growth Properties LLC
Growth Properties Limited Liability
Quit Claim Deed
related
$7,000,000 · West Coast Life Insurance Company
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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