Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    2187 Jolly Rd Okemos, MI 48864

    Loading data...
    Loading data...
    Loading data...
    For Lease
    $16 SF/Yr ($7,333 /Mo)

    Professional office space available on Jolly Road in Okemos, MI.

    Property size:
    5,500 SF
    Lot size:
    1.03 Acres

    Property Features for 2187 Jolly Rd

    General Information

    Size
    5,500 SF
    Lot size
    1.03 Acres

    We can help!

    Listing Contact
    Kelly Miller
    Source: Moodyscre

    Listing Agent: Kelly Miller

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Okemos Office Space For Lease

    Professional office space is available for lease on Jolly Road near the Jolly-Okemos Road intersection. Up to 5,500 square feet is available next to the new location for Discover Smiles Pediatric Dentistry. The space can be divided into smaller units, according to the floorplan. The location is just off Exit 110 in Okemos, offering signage available on Jolly Road across from the new Williams Audi and Volkswagen dealership. The location provides visibility on Jolly Road. The property size is approximately 5,500 square feet and subject to measurement. The intended use of the property is for office space.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Discover Smiles Pediatric ... Pediatric Dentist Lifetouch National School ... Portrait Studio Prestige Portraits Portrait Studio

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Okemos
    County
    Ingham
    State
    Michigan
    Longitude
    -84.428382
    Latitude
    42.682468

    Nearby Similar for Lease

    • $27 SF/Yr
      9,251 SF

      Restaurant Space Near Meridian Mall

      Restaurant-ready commercial space in a high-traffic location near Meridian Mall.
      1938 W Grand River Ave, Okemos, MI 48864
      View Details
    • $2,700 /Mo
      2,094 SF

      Okemos Ranch Commercial Property Rental

      Commercial ranch property available for rent in Okemos, Michigan.
      4747 Okemos Rd, Okemos, MI 48864
      View Details
    • New
      $16 SF/Yr
      664 SF

      Prime Okemos Office Space Available

      Versatile 2,623+/- SF office suite in a prime Okemos location.
      4131 Okemos Rd, Okemos, MI 48864
      View Details
    • $17 SF/Yr
      5,575 SF

      Okemos Office Suite For Rent

      Move-in ready office suite in a popular Okemos location.
      2501 Jolly Rd, Okemos, MI 48864
      View Details
    • $15 SF/Yr
      11,634 SF

      Former Retail Space in Okemos

      Freestanding building on a prime retail corridor available for rent.
      1664 W Grand River Ave, Okemos, MI 48864
      View Details
    • $18 SF/Yr
      10,404 SF

      Okemos Retail Space with Drive-Thru

      Retail space available with drive-thru in high-traffic Okemos location.
      1575 W Grand River Ave, Okemos, MI 48864
      View Details
    • $15 SF/Yr
      8,539 SF

      Executive Office Space in Okemos

      Prime Okemos location, 8,539 sqft available.
      2379 Woodlake Dr, Okemos, MI 48864
      View Details
    • $12 SF/Yr
      8,400 SF

      Okemos Flex Space: 8,400 SF

      Rare Okemos flex space; warehouse & office.
      2859 Jolly Rd, Okemos, MI 48864
      View Details
    • $15 SF/Yr
      24,024 SF

      Okemos Retail Center - Prime Location

      High-traffic retail space, multiple units available.
      2325 Jolly Rd, Okemos, MI 48864
      View Details
    • $300 /Mo
      150 SF

      Okemos Office Suite For Rent

      Office suite for rent in a convenient Okemos location.
      2380 Science Pkwy, Okemos, MI 48864
      View Details
    • $15 SF/Yr
      9,036 SF

      Woodlands Office Park: Prime Office Space

      Multiple suites, ample parking, ideal location.
      2378 Woodlake Dr, Okemos, MI 48864
      View Details
    • $15 SF/Yr
      14,670 SF

      Executive Suites, Okemos, MI

      Class A Office Space Available Now
      2121 University Park Dr, Okemos, MI 48864
      View Details

    FAQs

    What type of property is this?
    Office space - Professional office space available on Jolly Road in Okemos, MI.
    Where is this office space located?
    The property is located at 2187 Jolly Rd Okemos, MI.
    What is the lease rate?
    The lease rate is $16 SF/Yr.
    What are key features of this property?
    This property features: - Up to 5,500 sq ft of professional office space available.; - Terrific Okemos location just off Exit 110.; - Signage available on Jolly Road.
    (517) 712-5496
    Request Owner's contact information
    2187 Jolly Rd Okemos, MI 48864
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2187 Jolly Rd
    Okemos, MI 48864
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    2187 Jolly Rd Okemos, MI 48864
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Kelly Miller
    Real Estate License ID: 6501321932
    (517) 712-5496
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.