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    6280 Bishop Rd Lansing, MI 48911
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    Property profile & analytics

    6280 Bishop Rd, Lansing, MI 48911

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    • Commercial real estate
    • 21.82 lot acres
    Off-Market
    Property ID
    US43-0034942
    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

    • Commercial real estate

    Property Details for 6280 Bishop Rd

    Lot size
    21.82 lot acres
    Property type
    Commercial real estate
    APN
    25-05-07-176-001, 25-05-07-176-002, 25-05-07- 176-008, 25-05-07-176-015

    Description

    This exceptional 21.82-acre land parcel in Lansing, Michigan, presents a prime opportunity for the development of approximately 260 apartment units. Located in Delhi Township within the Holt School District, this fee-simple property boasts a highly visible location off I-96, exit 101, providing excellent accessibility. The site comprises four parcels (APN: 25-05-07-176-001, 25-05-07-176-002, 25-05-07-176-008, 25-05-07-176-015) and benefits from existing utilities. A special use permit allows for a density of 12 units per acre. The property's strategic location offers proximity to major employers, including GM's new battery cell plant (a 12-minute drive), and numerous amenities such as Kroger, Meijer, Starbucks, and Target (within an 8-minute drive). Furthermore, its location within a Qualified Opportunity Zone presents significant tax advantages for investors. The area enjoys a strong average household income ($91,000 in Delhi Township) and is served by the excellent Holt School District, with over 5,000 students. Downtown Holt is a 10-minute drive, downtown Lansing is 15 minutes away, and Capital Region International Airport is a 20-minute drive. The asking price for this exceptional development opportunity is $2,500,000.

    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
    Ingham
    State
    Michigan
    Longitude
    -84.594442854633
    Latitude
    42.661970268631

    Comparable in this City

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      Lansing Development Site For Sale

      Approximately 10 acres of land available in Lansing, Michigan.
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    • $79,900
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      Waterfront Lot on Maritime Drive

      Buildable 0.45-acre waterfront lot in Delhi Charter Twp.
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      Commercial Land in Lansing, MI

      Commercial land available for sale in Lansing, Michigan.
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    • New
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      0.23 Acres

      Residential Lot Ready for Construction

      Lot ready for construction with approved drawings included.
      2918 Midwood St, Lansing, MI 48911
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    Similar Nearby for Sale

    • $218,000
      26.00 Acres

      Lansing Duplex with New Roof

      Well-maintained duplex in Lansing, tenants pay all utilities.
      4400 Chadburne Dr, Lansing, MI 48911
      View Details
    • $209,900

      Established Multifamily Property in Lansing

      Multifamily property built in 1970 with recent upgrades.
      1006 Attwood Dr, Lansing, MI 48911
      View Details
    • Contact for pricing

      Lansing Development Site For Sale

      Approximately 10 acres of land available in Lansing, Michigan.
      Aurelius Rd. And Miller Rd, Lansing, MI 48911
      View Details
    • $79,900
      0.45 Acres

      Waterfront Lot on Maritime Drive

      Buildable 0.45-acre waterfront lot in Delhi Charter Twp.
      2745 Maritime Dr, Lansing, MI 48911
      View Details
    • $250,000
      0.49 Acres

      Commercial Land in Lansing, MI

      Commercial land available for sale in Lansing, Michigan.
      1265 Roth Dr, Lansing, MI 48911
      View Details
    • New
      Contact for pricing
      0.23 Acres

      Residential Lot Ready for Construction

      Lot ready for construction with approved drawings included.
      2918 Midwood St, Lansing, MI 48911
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Lansing Office Park Office Space

      Professional office space in Lansing, convenient location.
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      Retail Space in New Development

      Retail space available in new development on Jolly Road.
      2520 E Jolly Rd, Lansing, MI 48911
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      Commercial Space Available for Rent

      Commercial space available for rent starting 10/1/26.
      2556 Alamo Dr, Lansing, MI 48911
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    • Contact for pricing
      720 SF

      Versatile Office Space in Lansing

      Office suites available for lease near I-96 in Delhi Township.
      6133 Aurelius Rd, 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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