Two-Suite Office
For Sale
$299,000
2-4780 Okemos Road, Okemos, MI 48864
Main-level professional office with separate-entry flexibility, private work areas, meeting space, and on-site parking.
Property Size1,688 SF
Price / SF$177.13
Days on Market255
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Property Features for 2-4780 Okemos Road
General Information
Standard status
Active
Size
1,688 SF
Class
Class A
Additional Details
Floor
Main
HOA Fee
$495.29
Office Units
2
Taxes and HOA fees
Annual Taxes
$10,287
Listing Agency:
Keller Williams Realty Lansing
(517) 853-1200
Listed By:
Deborah Federau · License #6506046372
(517) 202-4232
Source:
Exprealty
Added: Feb 2
Changed: Oct 10
Last Checked: Oct 14 at 11:43PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Realty Lansing
Investment Insights
Based on property information with market context.
This 1,688-square-foot office condominium occupies the main level and is configured as two distinct suites. The layout includes two entrances, including one private entrance, with four private offices, a reception foyer, conference room, kitchenette, dedicated work area, and two lavatories. Two offices are currently occupied, and each suite has its own lavatory. Custom built-in book shelving spans one wall of the conference room.
The property is part of a four-owner building with abundant on-site parking. Its location at 2-4780 Okemos Road in Okemos provides access to nearby dining, shopping, and major thoroughfares. Water and sewer are included, and the space supports either single-occupant use or separation into multiple office suites.
The property is part of a four-owner building with abundant on-site parking. Its location at 2-4780 Okemos Road in Okemos provides access to nearby dining, shopping, and major thoroughfares. Water and sewer are included, and the space supports either single-occupant use or separation into multiple office suites.
Key Highlights
- 1,688‑square‑foot main‑level office condominium
- Two distinct suites with two entrances, including one private entrance
- Four private offices; two are currently occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,238
Cap Rate
4.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$284,760
$284.8K
Cap Rate 7%
$203,400
$203.4K
Cap Rate 9%
$158,200
$158.2K
Market Conditions
NOI Build-Up for 1,688 SF
Gross rent
$24.3K $14.40/SF
− Vacancy
−$5.3K −$3.15/SF
EGI
$19.0K $11.25/SF
− OpEx
−$4.7K −$2.81/SF
NOI
$14.2K $8.43/SF
Area
Ingham County, MI
Vacancy
21.90%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$284,760
Cap Rate 7%
$203,400
Cap Rate 9%
$158,200
Alternative Uses
Best Use
Office B
$203.4K
$178.0K – $237.3K
NOI $14,238 @ 7.0% cap · market cap 4.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$271.2K
$237.3K – $316.4K
NOI $18,984 @ 7.0% cap · market cap 6.35%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
2
Office units
Location Intelligence
Trade Area within ½ mile
1,045
Businesses Nearby
Explore this area
Business Placement
Demographics for 48864, MI
22,804
Population
9,903
Households
2.3
Avg Household Size
38
Median Age
76%
College-Educated
98%
High-School Grad
20.1 sq mi
ZIP Area
1,135
Density / Sq Mi
$113,145
Median Household Income
$64,120
Median Earnings
$1,281
Median Rent
$358,100
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office units - Main-level professional office with separate-entry flexibility, private work areas, meeting space, and on-site parking.
Where is this office units located?
The property is located at 2-4780 Okemos Road Okemos, MI.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: 1,688‑square‑foot main‑level office condominium; Two distinct suites with two entrances, including one private entrance; Four private offices; two are currently occupied
