Retail/Office Building with
2260 Jolly Oak Rd Okemos, MI 48864
2260 Jolly Oak Rd, Okemos, MI, 48864
$1,189,000
For Sale
$1,189,000
Retail/office property with an existing drive-thru setup, on-site parking, and expansion capacity using excess land.
Property Size3,932 SF
Lot Size1.61 Acres
Price / SF$302.39
Days on Market54
Property Features for 2260 Jolly Oak Rd
General Information
- Standard status
- Active
- Size
- 3,932 SF
- Lot size
- 1.61 Acres
- Property subtype
- Retail
Listing agency
Lansing
(517) 662-3529
Listed by
Shawn O'Brien · License #6502358107
(517) 662-3529
Source
Colliers
Added: May 29 Updated: Jul 20 at 8:33PM Checked: Jul 20 at 8:33PM
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 Lansing
Investment Insights
Based on property information with market context.
Highly attractive retail/office building on 1.61 acres, offering flexibility for a range of commercial uses. The site includes an existing drive-thru configuration that may be suitable for restaurant conversion, with patio expansion potential. There is also an expansion opportunity with capacity for 3,000+ SF by utilizing excess land and the former drive-thru area. Beautifully landscaped grounds support strong curb appeal. On-site parking is available, with a newly resurfaced parking lot completed in 2025.
The property features highly visible frontage along Okemos Road and is located within 0.5 miles of I-96, providing regional connectivity. Ownership includes a joint access drive off Jolly Oak for convenient ingress and egress. The location sits between major employers: Jackson National Life Insurance & Delta Dental Corporate Headquarters.
The property is offered for sale with options for sale-leaseback or owner-user acquisition. Condo association fees are approximately $3,800 quarterly and cover exterior maintenance, including snow removal, lawn care, roof, and parking lot maintenance. Building financials are available upon request.
The property features highly visible frontage along Okemos Road and is located within 0.5 miles of I-96, providing regional connectivity. Ownership includes a joint access drive off Jolly Oak for convenient ingress and egress. The location sits between major employers: Jackson National Life Insurance & Delta Dental Corporate Headquarters.
The property is offered for sale with options for sale-leaseback or owner-user acquisition. Condo association fees are approximately $3,800 quarterly and cover exterior maintenance, including snow removal, lawn care, roof, and parking lot maintenance. Building financials are available upon request.
Key Highlights
- 1.61‑acre retail/office building with highly visible frontage along Okemos Road
- Existing drive‑thru configuration suitable for restaurant conversion, with patio expansion potential
- Expansion capacity for 3,000 SF+ using excess land and the former drive‑thru area
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $56.6k | $14.40 |
| − Vacancy | −$10.1k | −$2.58 |
| EGI | $46.5k | $11.82 |
| − OpEx | −$11.6k | −$2.96 |
| NOI | $34.9k | $8.87 |
3,932 SF · lease $14.40/SF/yr · vacancy 17.90% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$498.1K
$435.8K – $581.1K
NOI $34,864 @ 7.0% cap · market cap 2.93%
Second Best
Office B
$473.8K
$414.6K – $552.8K
NOI $33,166 @ 7.0% cap · market cap 2.79%
Theoretical Best
Office A
$631.7K
$552.8K – $737.0K
NOI $44,221 @ 7.0% cap · market cap 3.72%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Becky Beauchine Kulka ...
(Bike/Boat/Book/etc) Store
Similar For Sale Nearby
FAQs
What type of property is this?
Retail space - Retail/office property with an existing drive-thru setup, on-site parking, and expansion capacity using excess land.
Where is this retail space located?
The property is located at 2260 Jolly Oak Rd Okemos, MI.
What is the asking price?
The asking price for this property is $1,189,000.
What are key features of this property?
This property features: 1.61‑acre retail/office building with highly visible frontage along Okemos Road; Existing drive‑thru configuration suitable for restaurant conversion, with patio expansion potential; Expansion capacity for 3,000 SF+ using excess land and the former drive‑thru area
