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    4632 Okemos Road Okemos, MI 48864

    View on Map
    For Sale
    Under Contract
    $429,900

    COMMERCIAL - Cape Cod - Okemos, MI

    Property size:
    3,632 SF
    Lot size:
    0.28 Acres
    Added:
    Jun 3, 2025
    Days on Market:
    304
    Last Refresh:
    Apr 2 at 8:06 pm

    Property Features for 4632 Okemos Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking
    15
    Parking features
    Driveway, Parking Lot
    Exterior features
    Rain Gutters
    Basement
    Full
    Appliances
    Gas Water Heater
    Standard status
    Active Under Contract
    APN
    33-02-02-21-453-008
    Size
    3,632 SF
    Lot size
    0.28 Acres

    Taxes and HOA fees

    TaxYear
    2024
    TaxDescription
    MP 2331 W 107 FT OF LOT 1 & W 107 FT OF N 3 RDS OF LOT 2 BLOCK 9 OKEMOS
    TaxAnnualAmount
    9818

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Heating system
    Forced Air, Natural Gas
    Cooling system
    Gas (Cooling), Central Air
    Water source
    Public

    Building Details

    Year built
    1930
    Floors in Building
    2
    Number of units
    1
    Flooring type
    Laminate, Hardwood
    Building materials
    Brick, Rough Sawn
    Roof type
    Shingle
    Architectural style
    Cape Cod

    We can help!

    Listing Contact
    David Ledebuhr
    David Ledebuhr

    Listing agent David Ledebuhr License #6502109685

    Listing office Musselman Realty Company 322 Abbot Road, East Lansing, MI

    Listing date Jun 3, 2025

    MLS# 288617

    Copyright © 2026 Greater Lansing Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Charming Okemos Office Building For Sale

    Located in downtown Okemos, this charming 2.5-story Cape Cod office building at 4632 Okemos Rd is available for sale. Situated at the southeast corner of Clinton and Okemos Roads, this all-brick structure has been the home of a Veterinary Clinic for the last 19 years. Previous uses included a Chiropractic practice and a Travel Agency. Zoned for professional office use, the 3632 square foot building features natural woodwork, beamed ceilings, newer windows, and a newer handicap access ramp. Ample on-site parking is available. The three finished floors offer usable office space. The building has a classic 1930's look. Other potential uses for the property include an Attorney's office, Insurance Brokerage, Financial Planner, Dentist, Therapist, Medical office, Accountant's office, or Architect's office. The property is situated on a 0.28-acre lot.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Riverside Cat Hospital Veterinary Clinic

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Red Cedar Animal Hospital, PC — 2245 Mt Hope Rd, Okemos, MI 48864
    • Riverside Cat Hospital — 4632 Okemos Rd, Okemos, MI 48864
    • Evergreen Veterinary Clinic — 4737 Marsh Rd, Okemos, MI 48864

    Location Insight

    • Map
    • Local Demand
    City
    Okemos
    County
    Ingham
    State
    Michigan
    Longitude
    -84.429637
    Latitude
    42.715564

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    FAQs

    What type of property is this?
    Medical Office Space - Classic 2.5-story Cape Cod office building in downtown Okemos.
    Where is this medical office space located?
    The property is located at 4632 Okemos Road Okemos, MI.
    What is the asking price?
    The asking price for this property is $429,900.
    What are key features of this property?
    This property features: Prime Downtown Okemos location at the corner of Clinton and Okemos Roads.; Zoned Professional Office, suitable for a variety of businesses (Attorney, Insurance, Medical, etc.).; Charming and classic 1930's all‑brick Cape Cod design with great character.
    (517) 256-8700
    We can help!
    Listing Contact
    David Ledebuhr
    David Ledebuhr
    Real Estate License ID: 6502109685
    Learn More
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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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