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Property profile & analytics
OFF-MARKET
Estimated value
$1,560,000
Distribution centers
919 Filley St Lansing, MI 48906-2968
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US43-0923507
Property summary
AI-generated overview
This exceptional Lansing, MI industrial property, located at 919 Filley St, 48906, offers a versatile space ideal for manufacturing, warehousing, or distribution needs. The single-story, 25,382 square foot building, constructed in 1955, features a free-span design with impressive 16-foot ceilings. The property boasts four drive-in doors and two dock-high doors, ensuring efficient loading and unloading. The floor is constructed of 4-inch concrete, providing a robust and durable surface. A wet fire suppression system is in place for enhanced safety. Electrical service includes 100-amp, 120/240-volt, 3-phase power. The property is zoned for industrial use and is currently entirely vacant, offering immediate occupancy for a single tenant or divisible spaces starting at 4,062 square feet. The building is situated in the northeast quadrant of North Grand River and Martin Luther King Jr. Boulevard, providing convenient access to major transportation routes. This property is also available for sale. Contact us today to learn more about leasing opportunities.
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1955
Total area
25,382 SF
Lot
1.1 ac (47,916 SF)
Zoning code
I HVY
APN
33-01-01-05-426-002
UPID
US43-0923507
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
Current use
Occupant on record · Public records
-
Garden Project Community Garden
-
Spartan Lawn Care Landscaping
-
M J Soffe (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.65M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.56M
Owner & transaction history
919 Filley St LLC · 4 yrs held
919 Filley St LLC
since 2022
Last sale
$1.5M
1 recorded transaction
Zoning & alternative use
I HVY · Lansing, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.2M
+56.6%
Auto repair, garage
$2.2M
+53.1%
Medical building
$2.2M
+52.6%
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
$1,600,000
ML approach
$1,645,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,415,000
Current use
RESTAURANT
$2,215,000
Change: +57% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,165,000
Change: +53% · Conversion: Easy
MEDICAL BUILDING
$2,160,000
Change: +53% · Conversion: Difficult
OFFICE BUILDING
$2,135,000
Change: +51% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,630,000
Change: +15% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$1,590,000
Change: +13% · Conversion: Easy
RETAIL STORES
$1,460,000
Change: +3% · Conversion: Moderate
Blend value · Realmo final
$1.56M
Range $1.40M – $1.72M · ±10% · vs last sale $1.50M (Feb 1 2022)
Last sale anchor
$1.50M
Feb 1 2022
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
$61 / 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 2020Property tax & assessments
Tax year 2020
Tax billed
$21,185
Tax year 2020
Assessed value
$315,200
Assessed 2023
Previous assessed
$299,400
+5.3% YoY
Effective rate
6.72%
On assessed value
Assessed land
$34,400
Assessed improvement
$280,800
Land market value
$68,800
Improvement market value
$561,600
Total market value
$630,400
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
1955
Heating
YES
Stories
1
Bathrooms
6
Total area
25,382 SF
Lot
1.1 ac (47,916 SF)
Zoning code
I HVY
APN
33-01-01-05-426-002
UPID
US43-0923507
Jurisdiction
INGHAM
Zoning & alternative use
I HVY · Lansing, MI
Zoning I HVY · permitted uses
I HVY · Lansing, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lansing. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$1.4M
RESTAURANT
Est. value
$2.2M
AUTO REPAIR, GARAGE
Est. value
$2.2M
MEDICAL BUILDING
Est. value
$2.2M
OFFICE BUILDING
Est. value
$2.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.6M
INDUSTRIAL (GENERAL)
Est. value
$1.6M
RETAIL STORES
Est. value
$1.5M
WAREHOUSE, STORAGE Current
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
INDUSTRIAL (GENERAL)
RETAIL STORES
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
1955
Heating
YES
Stories
1
Bathrooms
6
Lot
1.1 ac
Current owner
From public records · entity-resolved
919 Filley St LLC
Entity
Mailing address
1220 LANGFORD DR BLDG 200-101, WATKINSVILLE, GA 30677-7221
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 1, 2022
$1,500,000
919 Filley St LLC
Spadafore Distributing Company
Warranty Deed
$1,200,000 · The Commercial 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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