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    Property profile & analytics

    7624 Northport Dr Lansing, MI 48917-9516

    • Warehouses
    • 8,440 SF
    • 1.03 lot acres
    OFF-MARKET
    Value Estimations
    $600,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-2190183
    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

    • Irrigation Systems Inc. / General Contractor / Construction Company

    Property Details for 7624 Northport Dr

    Year built
    1991
    Lot size
    1.03 lot acres
    Property size
    8,440 SF
    Zone code
    NONE
    Property type
    Warehouses
    APN
    040 079 800 020 00
    APU
    4007980002000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $725,000
      Market price range: $265k - $835k
      AI Estimate
      $476,000
      Market price range: $213k - $551k

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $490,000
      Current use
      RESTAURANT
      $735,000
      Change: +50% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $720,000
      Change: +47% Conversion: Easy
      MEDICAL BUILDING
      $720,000
      Change: +46% Conversion: Difficult
      RETAIL STORES
      $605,000
      Change: +23% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $410,000
      Change: -17% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Lansing
    County
    Eaton
    State
    Michigan
    Longitude
    -84.6632
    Latitude
    42.7008
    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
    2023
    $12,535
    $0.00
    $0.00
    $260,200
    -
    $0.00
    $0.00
    $520,400

    Comparable in this City

    • Value Estimation
      $860,000
      10,500 SF

      2930 Creyts Rd

      WAREHOUSE, STORAGE • 10,500 SF
      2930 Creyts Rd, Lansing, MI 48917-8540
      View Details
    • Value Estimation
      $1,235,000
      21,600 SF

      7633 Lanac St

      WAREHOUSE, STORAGE • 21,600 SF
      7633 Lanac St, Lansing, MI 48917-9517
      View Details
    • Value Estimation by Request
      6,060 SF

      7837 Lanac St

      WAREHOUSE, STORAGE • 6,060 SF
      7837 Lanac St, Lansing, MI 48917-9575
      View Details
    • Value Estimation by Request
      5,225 SF

      7606 Northport Dr

      WAREHOUSE, STORAGE • 5,225 SF
      7606 Northport Dr, Lansing, MI 48917-9516
      View Details
    • Value Estimation
      $1,200,000
      32,931 SF

      1312 Waverly Rd

      WAREHOUSE, STORAGE • 32,931 SF
      1312 Waverly Rd, Lansing, MI 48917-4259
      View Details
    • Value Estimation by Request
      12,684 SF

      406 Lentz Ct, Unit 37

      WAREHOUSE, STORAGE • 12,684 SF
      406 Lentz Ct, Lansing, MI 48917-3701
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Office/Warehouse Space Near Interstate 96/69

      Office/warehouse space near I-96/I-69 interchange in established industrial center.
      6539 Westland Way, Lansing, MI 48917
      View Details
    • Contact for pricing

      Lansing Industrial Building For Sale

      17,080 SF industrial building in active logistics corridor.
      4600 S Creyts Rd, Lansing, MI 48917
      View Details
    • Contact for pricing
      340,000 SF

      Delta Township Industrial Build-to-Suit

      Class A industrial space, Lansing MSA
      6638 Millett Hwy, Lansing, MI 48917
      View Details
    • Contact for pricing

      Office/Warehouse Space Near Freeways

      Office/warehouse space with immediate freeway access for sale.
      4312 S Creyts Rd, Lansing, MI 48917
      View Details
    • Contact for pricing

      Industrial Space Near GM Plant

      14,267 SF industrial space available May 2025 near I-96.
      2960 Ena Dr, Lansing, MI 48917
      View Details
    • Contact for pricing
      10,048 SF

      Versatile Flex Space Warehouse

      10,048 sq ft property with long-term income potential.
      419 Lentz Ct, Lansing, MI 48917
      View Details

    Similar Nearby for Lease

    • $11 SF/Yr
      29,459 SF

      Lansing Warehouse: 30,000 SF Retail Space

      Mid-Michigan retail warehouse, ample parking.
      6025 Saginaw Hwy, Lansing, MI 48917
      View Details
    • Contact for pricing
      33,000 SF

      Industrial Warehouse and Office Space

      Newly built industrial warehouse and office space for lease.
      4800 S Canal Rd, Lansing, MI 48917
      View Details
    • $5 SF/Yr
      34,000 SF

      Willow Street Industrial Space

      13,065 SF Warehouse Space Available
      2231 Willow St, Lansing, MI 48917
      View Details
    • Contact for pricing
      30,000 SF

      Lansing Industrial Warehouse - 30,000 SF

      Prime Lansing warehouse, 4.98 acres. Ideal for build-to-suit.
      0 Ena Dr, Lansing, MI 48917
      View Details
    • Contact for pricing
      6,473 SF

      Versatile Industrial Space in Lansing

      Adaptable retail, industrial, and warehouse space with heavy-duty features.
      1340 S Waverly Rd, Lansing, MI 48917
      View Details
    • $9 SF/Yr
      3,500 SF

      Lansing Warehouse For Lease

      3,500 SF Warehouse, Excellent Location
      5023 Saginaw Hwy, Lansing, MI 48917
      View Details
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    Lansing, MI 48917-9516
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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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