Okemos Office Building Investment
For Sale
Contact for pricing
2120 University Park Dr, Okemos, MI 48864
Fully leased 13,338 SF office building in Okemos, Michigan.
Property Size13,338 SF
Lot Size1.50 Acres
Price / SF$134.58
Days on Market690
Property Features for 2120 University Park Dr
General Information
Standard status
Active
Size
13,338 SF
Class
B
Lot size
1.50 Acres
Property subtype
Office
Occupancy
100%
Investment Type
Value Add
Building Details
Year Built
1988
Listing Agency:
Martin Commercial Properties
Listed By:
Eric Rosekrans · License #MI 6501153826
(517) 351-2200
Source:
Crexi
Added: Nov 15, 2024
Changed: Oct 4
Last Checked: Oct 5 at 7:10PM
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
Investment Insights
Based on property information with market context.
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.
Key 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.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$112,503
Cap Rate
6.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,250,060
$2.3M
Cap Rate 7%
$1,607,186
$1.6M
Cap Rate 9%
$1,250,033
$1.3M
Market Conditions
NOI Build-Up for 13,338 SF
Gross rent
$192.1K $14.40/SF
− Vacancy
−$42.1K −$3.15/SF
EGI
$150.0K $11.25/SF
− OpEx
−$37.5K −$2.81/SF
NOI
$112.5K $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%
$2,250,060
Cap Rate 7%
$1,607,186
Cap Rate 9%
$1,250,033
Alternative Uses
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 authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
990
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
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.
