Freestanding Office Building with
For Sale
$525,000
4815 Okemos Road, Okemos, MI 48864
PO zoning and a four-lane drive-through support professional, medical, and service-oriented uses.
Property Size2,669 SF
Lot Size1.94 Acres
Price / SF$196.70
Days on Market149
Property Features for 4815 Okemos Road
General Information
Standard status
Active
Size
2,669 SF
Lot size
1.94 Acres
Property subtype
Commercial
Zoning
PO
Site & Location
Drive-Thru
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$19,745
Building Details
Building Size
2,669 SF
Year Built
1989
Units
1
Listed By:
JEFF Gates
(586) 298-1509
Source:
Housewant
Added: Jun 2
Changed: Oct 28
Last Checked: Oct 27 at 3:25AM
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 JEFF Gates
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Investment Insights
Based on property information with market context.
This freestanding office property in Meridian Charter Township includes a 2,669-square-foot building and a separate 1,500-square-foot drive-through with four lanes. The property occupies 1.94 acres and is zoned PO, Professional and Office. Its previous use was as a bank branch, and the existing drive-through infrastructure remains in place. Availability is scheduled for September 2026.
The property is at 4815 Okemos Road, along a suburban corridor serving the Lansing area. Michigan State University, East Lansing, and downtown Lansing are among the destinations identified in the surrounding area. Nearby uses include office, retail, residential, and institutional properties.
The property is at 4815 Okemos Road, along a suburban corridor serving the Lansing area. Michigan State University, East Lansing, and downtown Lansing are among the destinations identified in the surrounding area. Nearby uses include office, retail, residential, and institutional properties.
Key Highlights
- 2,669‑square‑foot freestanding office building on 1.94 acres
- Separate 1,500‑square‑foot drive‑through with four lanes
- Zoned PO, Professional and Office
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,512
Cap Rate
4.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$450,240
$450.2K
Cap Rate 7%
$321,600
$321.6K
Cap Rate 9%
$250,133
$250.1K
Market Conditions
NOI Build-Up for 2,669 SF
Gross rent
$38.4K $14.40/SF
− Vacancy
−$8.4K −$3.15/SF
EGI
$30.0K $11.25/SF
− OpEx
−$7.5K −$2.81/SF
NOI
$22.5K $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%
$450,240
Cap Rate 7%
$321,600
Cap Rate 9%
$250,133
Alternative Uses
Best Use
Office B
$321.6K
$281.4K – $375.2K
NOI $22,512 @ 7.0% cap · market cap 4.29%
Second Best
Healthcare Medical
$321.6K
$281.4K – $375.2K
NOI $22,512 @ 7.0% cap · market cap 4.29%
Theoretical Best
Office A
$428.8K
$375.2K – $500.3K
NOI $30,017 @ 7.0% cap · market cap 5.72%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
721
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
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office building - PO zoning and a four-lane drive-through support professional, medical, and service-oriented uses.
Where is this office building located?
The property is located at 4815 Okemos Road Okemos, MI.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 2,669‑square‑foot freestanding office building on 1.94 acres; Separate 1,500‑square‑foot drive‑through with four lanes; Zoned PO, Professional and Office
