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    Redevelopment Opportunity Near Meridian Mall Title is generated by Realmo AI

    4990 - 5000 Marsh Road, Okemos, MI 48864

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    4.27 acres with frontage on Marsh Road.

    Type:Retail
    Property size:
    29,068 SF
    Lot size:
    4.27 Acres
    Price / SF:
    $128/SF
    Added:
    Jul 29, 2021
    Days on Market:
    1759
    Last Refresh:
    Mar 17 at 1:14 pm

    Property Features for 4990 - 5000 Marsh Road

    General Information

    Standard status
    Active
    Size
    29,068 SF
    Lot size
    4.27 Acres
    Property subtype
    Retail

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    Listing Contact
    Todd Kosta

    Listing agent Todd Kosta License #MI 6501346341

    Listing office Woodworth Commercial Okemos

    Listing date Jul 29, 2021

    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 Woodworth Commercial Okemos

    HighLights

    • Prime redevelopment opportunity across from the Meridian Mall.
    • 4.27 acres with 305 feet of frontage on Marsh Road.
    • Allows for a 3‑story building suitable for corporate headquarters, office, or hotel.
    • Convenient location to East Lansing, MSU Campus, Okemos, Haslett, and Williamston.
    • Surrounded by national retailers (Dick's, Target, Kroger, etc.).
    • Multiple parcel offering.

    Overview

    This is a redevelopment opportunity consisting of multiple parcels totaling 4.27 acres. The property features 305 feet of frontage on Marsh Road, directly across from the Meridian Mall. The property allows for a 3-story building, making it suitable for various uses such as corporate headquarters, an office building, or a hotel. The location provides convenient access to the surrounding communities of East Lansing and the MSU Campus, Okemos, Haslett, and Williamston. The surrounding area includes national retailers such as Dick's Sporting Goods, Target, Marshall's, Kroger, Bed Bath and Beyond, Home Depot, and Kohl's.

    Financial Insights

    Value Estimation Calculated for Office B

    Conservative
    $2.72M
    NOI $245,183 @ 9.00% cap · cautious / downside scenario
    Moderate
    $3.50M
    NOI $245,183 @ 7.00% cap · market / base-case scenario
    Aggressive
    $4.90M
    NOI $245,183 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    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.
    Calculated for Office B

    Component $ $/SF
    Gross rent $418.6k $14.40
    − Vacancy −$91.7k −$3.15
    EGI $326.9k $11.25
    − OpEx −$81.7k −$2.81
    NOI $245.2k $8.43
    29,068 SF · lease $14.40/SF/yr · vacancy 21.90% · expense 25.00%

    Alternative Use Scenarios

    Best Use
    Office B
    $3.50M
    $3.06M – $4.09M (±1% cap)
    NOI $245,183 @ 7.0% cap · market cap 6.54%
    Second Best
    Retail
    $2.86M
    $2.51M – $3.34M (±1% cap)
    NOI $200,465 @ 7.0% cap · market cap 5.35%
    Theoretical Best
    Office A
    $4.67M
    $4.09M – $5.45M (±1% cap)
    NOI $326,910 @ 7.0% cap · market cap 8.72%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Michigan State Jewelry (Bike/Boat/Book/etc) Store Wheat Jewelers (Bike/Boat/Book/etc) Store

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Okemos
    County
    Ingham
    State
    Michigan
    Longitude
    -84.414416
    Latitude
    42.725988

    FAQs

    What type of property is this?
    Commercial land - 4.27 acres with frontage on Marsh Road.
    Where is this commercial land located?
    The property is located at 4990 - 5000 Marsh Road Okemos, MI.
    What is the asking price?
    The asking price for this property is $3,749,000.
    What are key features of this property?
    This property features: Prime redevelopment opportunity across from the Meridian Mall.; 4.27 acres with **305 feet of frontage on Marsh Road.**; Allows for a **3‑story building** suitable for corporate headquarters, office, or hotel.
    More about this property
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