Cannot access management IP net-net 4500

We have a spare net-net 4500 that we have changed the bootparm to a new IP, but we cannot ping / or access via SSH this address. When doing a wireshark capture, we get the MAC responding with the proper IP address, but it doesn't reply to anything with that IP as a source.

If I look at the bootparams on the front interface the IP / GW / Mask so up as correct.

I'd console into the box, but that doesn't work either. Is there a way to reset to factory defaults without being able to console into the 4500? I have tried to reset the device using a paperclip to insert to the little hole in the front, which reset the device, but didn't fix the issue of no response from the mgmt IP.