Okemos Two-Building Portfolio
2525 Jolly Rd, Okemos, MI 48864
Two-building portfolio in Okemos submarket with stable tenancy.
Type:Office
Property size:
29,226 SFPrice / SF:
$116/SF- Added:
- Mar 10, 2026
- Days on Market:
- 119
- Last Refresh:
- Mar 19 at 10:18 pm
Property Features for 2525 Jolly Rd
General Information
- Standard status
- Active
- Size
- 29,226 SF
- Property subtype
- Office
Building Details
- Year Built
- 1999
Listing office Marcus & Millichap - Detroit
Listing date Mar 10, 2026
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 Marcus & Millichap - Detroit
HighLights
- Two‑building portfolio in the desirable Okemos submarket.
- Stable tenancy with medical, office, and flex tenants.
- Strategic location along Jolly Road with excellent visibility and convenient access to major highways.
- Proximity to Michigan State University, downtown Lansing, and leading employers.
- Anchor tenant is Memorial Healthcare’s nationally recognized Neuroscience Center.
- Located in a supply‑constrained and demographically strong market.
Overview
This two-building portfolio offers an opportunity to acquire property in the Okemos submarket of Greater Lansing, Michigan. The properties are strategically located along Jolly Road, providing visibility and access to I-96, US-127, and the East Lansing/Okemos retail corridor. The location benefits from proximity to Michigan State University, downtown Lansing, and healthcare and technology employers. The buildings provide a mix of medical and office space, appealing to professional, medical, and service-oriented tenants. The Okemos market benefits from household incomes, population density, and demand from regional and national tenants. The portfolio provides investors the ability to acquire in-place income and long-term tenancy. A key anchor within the portfolio is Memorial Healthcare’s Neuroscience Center, which has demonstrated its commitment to the location by completing build-outs and renovations within the building. The portfolio delivers cash flow with upside through lease-up and rent growth in a supply-constrained and demographically strong market. The property has a total size of 29226 square feet.
Local Financial Insights For Office B
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 | $420.9k | $14.40 |
| − Vacancy | −$92.2k | −$3.15 |
| EGI | $328.7k | $11.25 |
| − OpEx | −$82.2k | −$2.81 |
| NOI | $246.5k | $8.43 |
29,226 SF · lease $14.40/SF/yr · vacancy 21.90% · expense 25.00%
Alternative Uses
Best Use
Office B
$3.52M
$3.08M – $4.11M
NOI $246,515 @ 7.0% cap · market cap 7.25%
Second Best
Healthcare Medical
$3.52M
$3.08M – $4.11M
NOI $246,515 @ 7.0% cap · market cap 7.25%
Theoretical Best
Office A
$4.70M
$4.11M – $5.48M
NOI $328,687 @ 7.0% cap · market cap 9.67%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Evan Vanderwey NMLS ...
Loan Service
Zach Boros NMLS ...
Loan Service
Meridian Hearing Centers
Hearing Aid Store
Churchill Mortgage - Okemos
Loan Service
LMCU Okemos Mortgage ...
Loan Service
Location Insight
- Map
- Local Demand
- City
- Okemos
- County
- Ingham
- State
- Michigan
- Longitude
- -84.442229
- Latitude
- 42.682236
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FAQs
What type of property is this?
Office building - Two-building portfolio in Okemos submarket with stable tenancy.
Where is this office building located?
The property is located at 2525 Jolly Rd Okemos, MI.
What is the asking price?
The asking price for this property is $3,399,000.
What are key features of this property?
This property features: Two‑building portfolio in the desirable Okemos submarket.; Stable tenancy with medical, office, and flex tenants.; Strategic location along Jolly Road with excellent visibility and convenient access to major highways.
