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    Property profile & analytics

    6520 Mercantile Way Lansing, MI 48916

    • Office buildings
    • 30,371 SF
    • 2.39 lot acres
    For Lease
    View listing
    $10 SF/Yr
    Value Estimations
    $840,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-0220616
    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

    • Ingham ISD Early Childhood Services / School District Office
    • ABA Insight Autism Services - Lansing / Mental Health Service / Educational Consultant

    Property Details for 6520 Mercantile Way

    Year built
    1978
    Lot size
    2.39 lot acres
    Property size
    30,371 SF
    Zone code
    G-2 WHO
    Property type
    Office buildings
    APN
    33-01-05-10-176-092
    APU
    33010510176092

    Description

    This exceptional single-tenant office building, located at 6520 Mercantile Way in Lansing, Michigan, offers 30,371 square feet of space. Built in 1980, the property sits on a generous 16.97-acre lot and features a single, one-story building. Currently, 12,518 square feet of space is available for immediate occupancy. The building boasts 45 total parking spaces, providing ample parking for employees and visitors. The property is zoned for office use and is conveniently located in the I-96 Business corridor, part of one of Lansing's largest office campuses. The property's location offers easy access to major transportation routes. On-site management and maintenance are provided, ensuring a smooth and efficient operation. The building also features electric car charging stations, catering to environmentally conscious businesses. Potential tenants can choose from move-in ready space or custom build-outs to meet specific needs. This property presents a unique opportunity for businesses seeking a prominent location with flexible space options and competitive rates within the Mid-Michigan market. The Ingham County property's APN is 01-05-10-176-118 and the zip code is 48916.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $815,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $867,000
      Market price range: $867k - $2.03M

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

    Location Insight

    • Map
    • Local Demand
    City
    Lansing
    County
    Ingham
    State
    Michigan
    Longitude
    -84.5367
    Latitude
    42.6643
    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
    $29,403
    $193,400
    $385,400
    $578,800
    -
    $386,800
    $770,800
    $1,157,600

    Comparable in this City

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      5,066 SF

      4166 Legacy Pkwy

      OFFICE BUILDING • 5,066 SF
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      View Details
    • Value Estimation by Request
      1,603 SF

      5900 Executive Dr, Unit 38

      OFFICE BUILDING • 1,603 SF
      5900 Executive Dr, Lansing, MI 48911-5305
      View Details
    • Value Estimation
      $255,000
      1,740 SF

      5716 Cedar St

      OFFICE BUILDING • 1,740 SF
      5716 Cedar St, Lansing, MI 48911-5101
      View Details
    • Value Estimation
      $415,000
      10,277 SF

      3410 Belle Chase Way

      OFFICE BUILDING • 10,277 SF
      3410 Belle Chase Way, Lansing, MI 48911-4282
      View Details
    • Value Estimation
      $545,000
      7,383 SF

      3475 Belle Chase Way, Unit 1

      OFFICE BUILDING • 7,383 SF
      3475 Belle Chase Way, Lansing, MI 48911-4252
      View Details
    • Value Estimation
      $470,000
      11,887 SF

      4162 English Oak Dr

      OFFICE BUILDING • 11,887 SF
      4162 English Oak Dr, Lansing, MI 48911-4297
      View Details

    Similar Nearby for Sale

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    • Contact for pricing

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      Land available in Lansing, Michigan.
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    Similar Nearby for Lease

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      12,000 SF

      Lansing Office Space: 12,000 SF

      Prime Lansing office space, ideal location.
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      Lansing Retail Office Space Available

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      Lansing Executive Office Suites

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    • $200 SF/Yr
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      Flexible office spaces perfect for small businesses and startups.
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      View Details
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    Lansing, MI 48916
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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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