Office Condominium
For Sale
$100,000
4125 Okemos Road, Okemos, MI 48864
Suite features three offices and a conference room, with potential furniture included and condominium dues of $231 monthly.
Property Size912 SF
Price / SF$109.65
Days on Market382
Property Features for 4125 Okemos Road
General Information
Standard status
Active
Size
912 SF
Class
C
Property subtype
Office
Zoning
PROFESSIONAL OFFICE
Additional Details
Highway Access
Yes
Building Details
Building Size
912 SF
Year Built
1984
Buildings
1
Stories
1
Listing Agency:
NAI Mid-Michigan
Listed By:
Steve Slater
(517) 749-7914
Source:
Cpix.resimplifi
Added: Aug 20, 2025
Changed: Aug 8
Last Checked: Sep 4 at 2:10AM
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 NAI Mid-Michigan
Investment Insights
Based on property information with market context.
This office condominium suite is laid out to support a small to medium-sized company, with three offices and a conference room. The sale may include potential furniture, depending on the final terms.
The property is conveniently located near I-96 and surrounded by shopping, restaurants, and healthcare. Condominium dues are $231 per month. Property taxes are approximately $3,000 per year. Parcel number is 33-02-02-28-377-022.
The property is conveniently located near I-96 and surrounded by shopping, restaurants, and healthcare. Condominium dues are $231 per month. Property taxes are approximately $3,000 per year. Parcel number is 33-02-02-28-377-022.
Key Highlights
- Year built: 1984
- Suite includes 3 offices plus a conference room
- Potential furniture included in the sale
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$7,693
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.69%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$153,860
$153.9K
Cap Rate 7%
$109,900
$109.9K
Cap Rate 9%
$85,478
$85.5K
Market Conditions
NOI Build-Up for 912 SF
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.
Gross rent
$13.1K $14.40/SF
− Vacancy
−$2.9K −$3.15/SF
EGI
$10.3K $11.25/SF
− OpEx
−$2.6K −$2.81/SF
NOI
$7.7K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$153,860
Cap Rate 7%
$109,900
Cap Rate 9%
$85,478
Alternative Uses
Best Use
Office B
$109.9K
$96.2K – $128.2K
NOI $7,693 @ 7.0% cap · market cap 7.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$146.5K
$128.2K – $171.0K
NOI $10,257 @ 7.0% cap · market cap 10.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
470
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
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Suite features three offices and a conference room, with potential furniture included and condominium dues of $231 monthly.
Where is this office units located?
The property is located at 4125 Okemos Road Okemos, MI.
What is the asking price?
The asking price for this property is $100,000.
What are key features of this property?
This property features: Year built: 1984; Suite includes 3 offices plus a conference room; Potential furniture included in the sale
