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    6238 W Grand River Ave Lansing, MI 48906
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    6238 W Grand River Ave Lansing, MI 48906

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    • Industrial land
    • 10,594 SF
    For Sale
    $1,400,000
    View Listing →
    Prime Industrial Property for Sale For Sale
    $1,400,000
    10,594 SF

    Prime Industrial Property for Sale

    25 acres near I-69/I-96 interchange, suitable for redevelopment.

    6238 W Grand River Avenue, Lansing, MI 48906
    View Listing
    Property ID
    US43-2361207
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Industrial land

    Property Details for 6238 W Grand River Ave

    Year built
    1937
    Property size
    10,594 SF
    Property type
    Industrial land
    Property subtype
    Commercial real estate

    Description

    25 Acres of prime industrial property approximately 1 mile east of the 69/96 interchange with close proximity to Lansing Regional Airport. Property consists of Home and several outbuildings, with over 800' of frontage on W Grand River (Business 96). This is an exceptional opportunity for distributio ... n, manufacturing or Redevelopment.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Lansing
    County
    Eaton
    State
    Michigan
    Longitude
    -84.645853
    Latitude
    42.782311

    Comparable in this City

    • $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
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    • $40,000

      Lansing Vacant Industrial Lot

      0.23-acre vacant lot with industrial zoning in Lansing, Michigan.
      4904 N Grand River Ave, Lansing, MI 48906
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      Industrial Land Development Opportunity

      44.36 acres of light industrial land for sale.
      6131 W Grand River Ave, Lansing, MI 48906
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    • $1,400,000
      Pending

      Prime Industrial Property for Sale

      25 acres near I-69/I-96 interchange, suitable for redevelopment.
      6238 W Grand River Ave, Lansing, MI 48906
      View Details
    • $4,320,000

      Industrial Land with Rail Access

      90 acres of industrial land near I-96/I-69 interchange.
      Grand River Ave, Lansing, MI 48906
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      7-Acre Lansing Development Opportunity

      Vacant land parcel ideal for retail, office, or industrial development.
      4495 West Grand River Ave, Lansing, MI 48906
      View Details

    Similar Nearby for Sale

    • $750,000

      Lansing Industrial Property on Grand River

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      4700 N Grand River Ave, Lansing, MI 48906
      View Details
    • $40,000

      Lansing Vacant Industrial Lot

      0.23-acre vacant lot with industrial zoning in Lansing, Michigan.
      4904 N Grand River Ave, Lansing, MI 48906
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    • $49,900

      Lansing Vacant Land Parcels

      Two adjacent vacant land parcels in Lansing, ready for development.
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      Industrial Land with Rail Access

      90 acres of industrial land near I-96/I-69 interchange.
      Grand River Ave, Lansing, MI 48906
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      7-Acre Lansing Development Opportunity

      Vacant land parcel ideal for retail, office, or industrial development.
      4495 West Grand River Ave, Lansing, MI 48906
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      Industrial Land Development Opportunity

      44.36 acres of light industrial land for sale.
      6131 W Grand River Ave, Lansing, MI 48906
      View Details

    Similar Nearby for Lease

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      304,920 SF

      Lansing Industrial Land Opportunity

      Build-to-Suit Land Near Airport
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    • $14 SF/Yr
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      Lansing Office Space: Golf Course Views

      Prime Lansing office space, stunning golf course views.
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      Industrial Building Near Lake Lansing

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      High Visibility Lansing Office Building

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      Turn-Key Grow Facility For Lease

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      Lansing Warehouse with Office/Apartment

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    View Listing
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    Lansing, MI 48906
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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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