Okemos Office Building Investment
2120 University Park Dr, Okemos, MI 48864
Fully leased 13,338 SF office building in Okemos, Michigan.
Type:Office
Property size:
13,338 SFLot size:
1.50 AcresPrice / SF:
$134/SF- Added:
- Nov 15, 2024
- Days on Market:
- 553
- Last Refresh:
- Mar 17 at 1:14 pm
Property Features for 2120 University Park Dr
General Information
- Standard status
- Active
- Size
- 13,338 SF
- Lot size
- 1.50 Acres
- Property subtype
- Office
Building Details
- Year Built
- 1988
Listing agent Eric Rosekrans License #MI 6501153826
Listing office Martin Commercial Properties
Listing date Nov 15, 2024
Source Crexi
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 Martin Commercial Properties
HighLights
- Fully leased 13,338 sq ft office building, ensuring immediate cash flow.
- Anchored by two strong, creditworthy tenants: Michigan Claim Service, Inc. (The ASU Group) and Alpha Solutions Management.
- Exceptional location in a prominent office corridor with seamless access to Okemos Road and the I‑96 interchange.
- Recent first‑floor renovation to tenant specifications (Alpha Solutions Management).
- Well‑maintained asset on 1.5 acres.
- Located near a wide variety of restaurants, banks, and retail amenities.
Overview
This is an investment opportunity to acquire a fully leased, 13,338-square-foot office building. The property is located at 2120 University Park Dr., Okemos, Michigan, and is situated on 1.5 acres in a prominent office corridor. The location provides access to Okemos Road, the I-96 interchange, and a variety of restaurants, banks, and retail amenities. The property is anchored by two tenants: Michigan Claim Service, Inc. (operating as The ASU Group) and Alpha Solutions Management (owned by Reyton Ventures, LLC). The first-floor space was recently renovated to the specifications of Alpha Solutions Management. The property offers durable occupancy, recent upgrades, and an exceptional location, presenting a compelling investment opportunity for buyers seeking a quality office property in a high-demand market.
Financial Insights
Value Estimation Calculated for Office B
Conservative
$1.25M
NOI $112,503 @ 9.00% cap · cautious / downside scenario
Moderate
$1.61M
NOI $112,503 @ 7.00% cap · market / base-case scenario
Aggressive
$2.25M
NOI $112,503 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
Calculated for Office B
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $192.1k | $14.40 |
| − Vacancy | −$42.1k | −$3.15 |
| EGI | $150.0k | $11.25 |
| − OpEx | −$37.5k | −$2.81 |
| NOI | $112.5k | $8.43 |
13,338 SF · lease $14.40/SF/yr · vacancy 21.90% · expense 25.00%
Alternative Use Scenarios
Best Use
Office B
$1.61M
$1.41M – $1.88M
NOI $112,503 @ 7.0% cap · market cap 6.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.14M
$1.88M – $2.50M
NOI $150,004 @ 7.0% cap · market cap 8.36%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Strategic Safety Inc
Building Supply
ASU Group
Insurance Agency
Recovery Unlimited
Medical Clinic
Michigan Transit Pool
Association Or Organization
Catalyst Solutions
Business Service Center
Location Insight
- Map
- Local Demand
- City
- Okemos
- County
- Ingham
- State
- Michigan
- Longitude
- -84.428296
- Latitude
- 42.680031
Nearby Similar for Sale
FAQs
What type of property is this?
Office building - Fully leased 13,338 SF office building in Okemos, Michigan.
Where is this office building located?
The property is located at 2120 University Park Dr Okemos, MI.
What is the asking price?
The asking price for this property is $1,795,000.
What are key features of this property?
This property features: Fully leased 13,338 sq ft office building, ensuring immediate cash flow.; Anchored by two strong, creditworthy tenants: Michigan Claim Service, Inc. (The ASU Group) and Alpha Solutions Management.; Exceptional location in a prominent office corridor with seamless access to Okemos Road and the I‑96 interchange.
