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Property profile & analytics
OFF-MARKET
Estimated value
$2,190,000
Warehouses
5814 Pennsylvania Ave 6 Lansing, MI 48911-5229
Entity Owned
16-yr Hold
~
Est. High Equity
Property ID
US43-0226091
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1967
Total area
33,980 SF
Lot
1.79 ac (77,972 SF)
Zoning code
G-2 WHO
APN
33-01-05-03-352-571
UPID
US43-0226091
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
-
Family Dollar Discount Store
-
Extra Space Storage Storage Facility
-
Move It Now - Lansing - Grand Ledge - Holt - Okemos - Dewitt - East Lansing, MI Storage Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.07M
Blend (final)
Blend
$2.19M
Owner & transaction history
Lansing Storage Centers LLC · 16 yrs held
Lansing Storage Centers LLC
since 2010
7 recorded transactions
Zoning & alternative use
G-2 WHO · Lansing, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
code of ordinances
Top alternative use upside
Restaurant
$3.0M
+50.0%
Auto repair, garage
$2.9M
+46.7%
Medical building
$2.9M
+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
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
$1,975,000
Current use
RESTAURANT
$2,965,000
Change: +50% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,900,000
Change: +47% · Conversion: Easy
MEDICAL BUILDING
$2,890,000
Change: +46% · Conversion: Difficult
OFFICE BUILDING
$2,805,000
Change: +42% · Conversion: Difficult
RETAIL STORES
$2,425,000
Change: +23% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$2,180,000
Change: +10% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$2,130,000
Change: +8% · Conversion: Easy
Blend value · Realmo final
$2.19M
Range $1.97M – $2.41M · ±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
$64 / 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
$61,548
Tax year 2022
Assessed value
$1,074,000
Assessed 2023
Previous assessed
$1,059,200
+1.4% YoY
Effective rate
5.73%
On assessed value
Assessed land
$150,100
Assessed improvement
$923,900
Land market value
$300,200
Improvement market value
$1,847,800
Total market value
$2,148,000
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
1967
Heating
YES
Buildings
2
Stories
1
Bathrooms
2
Total area
33,980 SF
Lot
1.79 ac (77,972 SF)
Zoning code
G-2 WHO
APN
33-01-05-03-352-571
UPID
US43-0226091
Jurisdiction
INGHAM
Zoning & alternative use
G-2 WHO · Lansing, MIZoning G-2 WHO · permitted uses
G-2 WHO · Lansing, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
code of ordinances
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$2.0M
RESTAURANT
Est. value
$3.0M
AUTO REPAIR, GARAGE
Est. value
$2.9M
MEDICAL BUILDING
Est. value
$2.9M
OFFICE BUILDING
Est. value
$2.8M
RETAIL STORES
Est. value
$2.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.2M
INDUSTRIAL (GENERAL)
Est. value
$2.1M
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
1967
Heating
YES
Stories
1
Buildings
2
Bathrooms
2
Lot
1.79 ac
Current owner
From public records · entity-resolved
Lansing Storage Centers LLC
Entity
Mailing address
979 S OLD US HWY 23, BRIGHTON, MI 48114-7685
Ownership since
2010
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 11, 2022
—
Lansing Storage Centers LLC
—
Deed
related
$13,300,000 · Bank Of America NA
May 2, 2016
—
Lansing Storage Center LLC
—
Deed
related
$9,270,000 · Citigroup Global Markets Relaty Corp
Apr 22, 2010
$450,000
Lansing Storage Centers LLC
Amherst Partners LLC
Other
$590,307 · Lansing Automakers FCU
Jan 23, 2001
$2,394,000
Real Estate Express INC
Rampart Management LLC
Quit Claim Deed
related
$1,800,000 · Comerica Bk/detroit
Jan 23, 2001
$2,400,000
Rampart Management LLC
Vanelslander Archie A
Warranty Deed
related
—
—
—
Lansing Storage Centers LLC
—
Deed Of Trust
related
$306,000 · Michigan Certified Development
—
—
Lansing Storage Centers LLC
—
Loan Modification
related
$1,000,000 · Lafcu
—
—
Lansing Storage Centers LLC
—
Loan Modification
related
$660,307 · Lansing Automakers FCU
—
—
Lansing Storage Centers LLC
—
Loan Modification
related
$767,000 · Lafcu
—
—
Lansing Storage Centers LLC
—
Deed Of Trust
related
$564,000 · Lansing Automakers FCU
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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