Medical Office
For Sale
Contact for pricing
2270 Jolly Oak Road, Okemos, MI 48864
Office condominium configured for medical and professional office use.
Property Size6,126 SF
Price / SF$195.89
Days on Market56
Property Features for 2270 Jolly Oak Road
General Information
Standard status
Active
Size
6,126 SF
Property subtype
Office
Additional Details
Office Units
1
Building Details
Tenancy
Single
Listing Agency:
Portfolio Real Estate Advisors
Listed By:
Frank Woronoff · License #6505339773
Source:
Crexi
Added: Sep 3
Changed: Oct 25
Last Checked: Oct 28 at 5:46AM
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 Portfolio Real Estate Advisors
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Investment Insights
Based on property information with market context.
This medical office condominium comprises 6,126 SF within the Okemos + Oaks Park Association. The suite is described as being in excellent condition, with well-appointed features throughout the interior. Its office configuration supports medical practice or other professional office occupancy, subject to applicable requirements.
The property is located at 2270 Jolly Oak Road in Okemos, Michigan, with a 48864 ZIP code. The offering is identified as general commercial real estate and may suit an owner-user or an investor seeking an office condominium asset.
The property is located at 2270 Jolly Oak Road in Okemos, Michigan, with a 48864 ZIP code. The offering is identified as general commercial real estate and may suit an owner-user or an investor seeking an office condominium asset.
Key Highlights
- 6,126 SF medical office suite
- Office condominium ownership structure
- Located within the Okemos + Oaks Park Association
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$51,672
Cap Rate
4.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,033,440
$1.0M
Cap Rate 7%
$738,171
$738.2K
Cap Rate 9%
$574,133
$574.1K
Market Conditions
NOI Build-Up for 6,126 SF
Gross rent
$110.3K $18.00/SF
− Vacancy
−$24.1K −$3.94/SF
EGI
$86.1K $14.06/SF
− OpEx
−$34.4K −$5.62/SF
NOI
$51.7K $8.43/SF
Area
Ingham County, MI
Vacancy
21.90%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,033,440
Cap Rate 7%
$738,171
Cap Rate 9%
$574,133
Alternative Uses
Best Use
Healthcare Medical
$738.2K
$645.9K – $861.2K
NOI $51,672 @ 7.0% cap · market cap 4.31%
Second Best
Office B
$738.2K
$645.9K – $861.2K
NOI $51,672 @ 7.0% cap · market cap 4.31%
Theoretical Best
Office A
$984.2K
$861.2K – $1.15M
NOI $68,895 @ 7.0% cap · market cap 5.74%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
1
Office units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,129
Businesses Nearby
Under-served
Demand for This Use
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
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Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Medical Office Space - Office condominium configured for medical and professional office use.
Where is this medical office space located?
The property is located at 2270 Jolly Oak Road Okemos, MI.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 6,126 SF medical office suite; Office condominium ownership structure; Located within the Okemos + Oaks Park Association
