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Property profile & analytics
OFF-MARKET
Estimated value
$1,430,000
Warehouses
819 Kalamazoo St Lansing, MI 48912
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US43-1429647
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1940
Total area
13,835 SF
Lot
0.88 ac (38,333 SF)
Zoning code
H LT IN
APN
33-01-01-15-310-063
UPID
US43-1429647
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.72M
Comparable Approach
Comparable
$1.37M
Blend (final)
Blend
$1.43M
Owner & transaction history
Bt Realty LLC · 5 yrs held
Bt Realty LLC
since 2021
7 recorded transactions
Zoning & alternative use
H LT IN · Lansing, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
code of ordinances
Top alternative use upside
Restaurant
$1.2M
+50.0%
Auto repair, garage
$1.2M
+46.7%
Medical building
$1.2M
+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%
$1,860,000
6.5%
$1,720,000
7%
$1,595,000
Alternative Use
Use
Estimation
RESTAURANT
$1,205,000
Change: +50% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,180,000
Change: +47% · Conversion: Easy
MEDICAL BUILDING
$1,175,000
Change: +46% · Conversion: Difficult
OFFICE BUILDING
$1,140,000
Change: +42% · Conversion: Difficult
RETAIL STORES
$990,000
Change: +23% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$890,000
Change: +10% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$870,000
Change: +8% · Conversion: Easy
Blend value · Realmo final
$1.43M
Range $1.29M – $1.57M · ±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
$103 / 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
$49,322
Tax year 2022
Assessed value
$677,600
Assessed 2023
Previous assessed
$517,400
+31.0% YoY
Effective rate
7.28%
On assessed value
Assessed land
$96,200
Assessed improvement
$581,400
Land market value
$192,400
Improvement market value
$1,162,800
Total market value
$1,355,200
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
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1940
Heating
SPACE
Buildings
3
Stories
1
Bathrooms
8
Total area
13,835 SF
Lot
0.88 ac (38,333 SF)
Zoning code
H LT IN
APN
33-01-01-15-310-063
UPID
US43-1429647
Jurisdiction
INGHAM
Zoning & alternative use
H LT IN · Lansing, MIZoning H LT IN · permitted uses
H LT IN · 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
RESTAURANT
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$1.2M
MEDICAL BUILDING
Est. value
$1.2M
OFFICE BUILDING
Est. value
$1.1M
RETAIL STORES
Est. value
$990,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$890,000
INDUSTRIAL (GENERAL)
Est. value
$870,000
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
1940
Heating
SPACE
Stories
1
Buildings
3
Bathrooms
8
Lot
0.88 ac
Current owner
From public records · entity-resolved
Bt Realty LLC
Entity
Mailing address
1421 RENSEN ST, LANSING, MI 48910-3657
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 20, 2024
—
Bt Realty LLC
—
Deed
related
$675,000 · Team 517 LLC
Sep 5, 2024
—
Bt Realty LLC
—
Deed
related
—
Jul 27, 2021
—
Bt Realty LLC
—
Deed
related
—
Jul 21, 2021
—
Bt Realty LLC
Brian Brzustwicz
Warranty Deed
—
Jun 12, 2017
—
Gregory L Arnston
Sernhy Brown Arntson Ps
Quit Claim Deed
related
—
Jun 12, 2017
$935,000
Brian Brznstewicz
Arntson,gregory L
Warranty Deed
—
Dec 14, 2007
—
Gregory L Arntson
Gla Investments
Quit Claim Deed
related
$392,232 · Dart Bank
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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