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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    5601 Enterprise Dr Lansing, MI 48911

    • Warehouses
    • 48,750 SF
    • 2.79 lot acres
    For Lease
    View listing
    $8 SF/Yr
    Last Sale
    Mar 26, 2021
    Value Estimations
    $825,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-0228633
    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

    • ROADTEX / Store
    • 24 Karat Talent Studios LLC / Photography Studio
    • Professional Drywall Supplies / Dry Wall Contractor

    Property Details for 5601 Enterprise Dr

    Year built
    1974
    Lot size
    2.79 lot acres
    Property size
    48,750 SF
    Zone code
    I HVY
    Property type
    Warehouses
    APN
    33-01-05-03-426-018
    APU
    33010503426018

    Description

    This exceptional Ingham County office space, situated within an industrial park setting, offers a unique opportunity for businesses seeking flexible and modern accommodations. Currently, 3,576 square feet of vacant space is available, divisible into units as small as 1,146 square feet and expandable up to a contiguous 3,576 square feet. The property features a total of two suites, providing a smaller-scale, intimate business environment. Each suite includes private offices, a convenient conference room, and a fully equipped kitchenette, enhancing productivity and collaboration. The building's robust electrical infrastructure includes 3-phase, 440-volt power, suitable for a variety of business needs. This location in Ingham County offers easy access to key transportation routes and amenities, making it an ideal choice for companies seeking a blend of functionality and convenience. The available space presents a rare opportunity to secure a well-appointed office space in a desirable location, catering to businesses of varying sizes and operational requirements. The flexible layout allows for customization to meet specific business needs, ensuring a comfortable and productive work environment. The combination of private offices, shared amenities, and ample power supply makes this property a compelling option for businesses seeking a high-quality, efficient workspace. Contact us today to schedule a viewing and explore the possibilities.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $690,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $964,000
      Market price range: $965k - $2.85M

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

    Location Insight

    • Map
    • Local Demand
    City
    Lansing
    County
    Ingham
    State
    Michigan
    Longitude
    -84.5277
    Latitude
    42.6769
    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
    $34,857
    $76,600
    $498,600
    $575,200
    -
    $153,200
    $997,200
    $1,150,400

    Comparable in this City

    • Value Estimation
      $325,000
      12,808 SF

      5232 Aurelius Rd

      WAREHOUSE, STORAGE • 12,808 SF
      5232 Aurelius Rd, Lansing, MI 48911-4114
      View Details
    • Value Estimation
      $410,000
      4,800 SF

      6836 Aurelius Rd, Unit 14

      WAREHOUSE, STORAGE • 4,800 SF
      6836 Aurelius Rd, Lansing, MI 48911-7112
      View Details
    • Value Estimation
      $505,000
      15,600 SF

      3460 Dunckel Rd, Unit 1

      WAREHOUSE, STORAGE • 15,600 SF
      3460 Dunckel Rd, Lansing, MI 48911-4215
      View Details
    • Value Estimation
      $700,000
      29,750 SF

      3425 Belle Chase Way9-10

      WAREHOUSE, STORAGE • 29,750 SF
      3425 Belle Chase Way9-10, Lansing, MI 48911-4201
      View Details
    • Value Estimation
      $300,000
      1,280 SF

      3019 Miller Rd

      WAREHOUSE, STORAGE • 1,280 SF
      3019 Miller Rd, Lansing, MI 48911-4532
      View Details
    • Value Estimation
      $480,000
      1,440 SF

      5445 Pennsylvania Ave

      WAREHOUSE, STORAGE • 1,440 SF
      5445 Pennsylvania Ave, Lansing, MI 48911-4010
      View Details

    Similar Nearby for Sale

    • $599,000
      12,471 SF

      Lansing Industrial Property Investment

      12,471 SF Flex/Warehouse, Vacant
      6133 Aurelius Rd, Lansing, MI 48911
      View Details
    • $400,000
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      Lansing Warehouse: $400K

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    • $950,000
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      Clear Span Warehouse For Sale

      Clear span building near highways with 400 amp service.
      5505 S Pennsylvania Ave, Lansing, MI 48911
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    • $510,400
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      Lansing Warehouse: $510,400

      Prime Lansing warehouse, ideal for commercial use.
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    • $485,000
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      Warehouse Building on S Pennsylvania

      Commercial warehouse building with open space and small office.
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    • $145,000
      1,456 SF

      Lansing Industrial Property: Great Investment

      1,456 sq ft industrial building on 0.21 acres.
      5214 Pennsylvania Ave, Lansing, MI 48911
      View Details

    Similar Nearby for Lease

    • $8 SF/Yr
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      Oakwood Executive Park Warehouse Space

      Versatile Flex Space, Abundant Parking
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    • $8 SF/Yr
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      Lansing Industrial Warehouse Space

      Midway Park, 15,480 SF Available
      5643 Enterprise Dr, Lansing, MI 48911
      View Details
    • Contact for pricing
      60,000 SF

      Lansing Industrial Space for Lease

      Flexible Manufacturing/Warehouse Space in Lansing, MI
      0 Miller Rd, Lansing, MI 48911
      View Details
    • $6 SF/Yr
      60,422 SF

      Lansing Industrial Facility For Lease

      60,422 SF Manufacturing/Warehouse Space
      5522 Aurelius Rd, Lansing, MI 48911
      View Details
    • Contact for pricing
      80,000 SF

      Lansing Industrial Space - 80,000 SF

      Versatile Lansing warehouse/office space.
      5858 Enterprise Dr. Lansing, MI 48911, Lansing, MI 48911
      View Details
    • $6 SF/Yr
      137,454 SF

      Lansing Warehouse: Prime Location

      137,454 SF Warehouse, Redevelopment Opportunity
      340 Edgewood Blvd, Lansing, MI 48911
      View Details
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    Lansing, MI 48911
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    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
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