Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2859 Jolly Rd Okemos, MI 48864

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Rare Okemos flex space; warehouse & office.

    Lot size:
    8,400 SF

    Property Features for 2859 Jolly Rd

    General Information

    Property type
    Flex space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    8,400 SF
    Class
    B
    Total Rate
    8400

    Building Details

    Year Built
    1981
    Buildings
    1
    Stories
    2

    Spaces For Lease

    at 2859 Jolly Rd, Okemos, MI 48864 Contact us
    Unit Adjacent Office Space

    $12 /Mo

    Size
    3,345 SF
    Contact us
    Unit Open Span Warehouse

    $12 /Mo

    Size
    5,922 SF
    Contact us

    We can help!

    Listing Contact
    Julie O'Brien
    Julie O'Brien

    Listing Agency: Colliers - Grand Rapids, Michigan Listing Agent: Julie O'Brien

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    This exceptional 8,400-square-foot flex space in Okemos presents a unique opportunity for businesses needing both warehouse and office accommodations. The property, situated on 2.2 acres at 2859 Jolly Road, features a well-maintained, dual-tenant building constructed in 1981. The building boasts a Class B rating and is zoned B-1. The warehouse component offers a fully insulated, open-span design with impressive 13'6"+ ceiling clearance, two forced-air furnaces, a 12' electric overhead door, 3-phase electricity, and energy-efficient LED sensor lighting. Concrete floors provide durability, and a mezzanine level offers additional storage space, accessible by forklift. Two convenient access points connect the warehouse to the office area, and a multi-stall restroom is located within the warehouse. The office space includes two private offices, a reception area, a kitchenette, and a full kitchen with direct access to the warehouse. Additional storage is available in the basement and on the second floor. This property offers 7,345 square feet of vacant space, making it ideal for a variety of businesses. Its convenient Jolly Road location provides easy access to local amenities. The property consists of one, two-story building. The APN is 33-06-06-05-100-038.
    Property Profile Location Intelligence

    Current Use by Public Records

    Symbiosis International (Bike/Boat/Book/etc) Store

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Auto Parts Store Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Okemos
    County
    Ingham
    State
    Michigan
    Longitude
    -84.456095
    Latitude
    42.682028

    Nearby Similar for Lease

    • $16 SF/Yr
      664 SF

      Prime Okemos Office Space Available

      Versatile 2,623+/- SF office suite in a prime Okemos location.
      4131 Okemos Rd, Okemos, MI 48864
      View Details
    • Contact for pricing

      MI, Okemos - Woodlake Circle

      Discover many ways to work your way in Doylestown
      2479 Woodlake Cir, Okemos, MI 48864
      View Details
    • $2,700 /Mo
      2,094 SF

      Okemos Ranch Commercial Property Rental

      Commercial ranch property available for rent in Okemos, Michigan.
      4747 Okemos Rd, Okemos, MI 48864
      View Details
    • $27 SF/Yr
      9,251 SF

      Restaurant Space Near Meridian Mall

      Restaurant-ready commercial space in a high-traffic location near Meridian Mall.
      1938 W Grand River Ave, Okemos, MI 48864
      View Details
    • $300 /Mo
      150 SF

      Okemos Office Suite For Rent

      Office suite for rent in a convenient Okemos location.
      2380 Science Pkwy, Okemos, MI 48864
      View Details
    • Contact for pricing

      Okemos Road Office Space

      Office space available for rent on Okemos Road.
      4121 Okemos Rd, Okemos, MI 48864
      View Details
    • Contact for pricing
      3,591 SF

      Okemos Office Space For Rent

      Office space available for lease in Okemos, Michigan.
      2364 Woodlake Dr, Okemos, MI 48864
      View Details
    • Contact for pricing
      1,550 SF

      Okemos Office Space Available

      Office space available for lease in Okemos, Michigan.
      2111 University Park Dr, Okemos, MI 48864
      View Details
    • $15 SF/Yr
      15,350 SF

      Prime Okemos Executive Office Suite

      1,958 SF Available, Ample Parking
      2145 University Park Dr, Okemos, MI 48864
      View Details
    • $15 SF/Yr
      14,670 SF

      Executive Suites, Okemos, MI

      Class A Office Space Available Now
      2121 University Park Dr, Okemos, MI 48864
      View Details
    • $24 SF/Yr
      49,954 SF

      Prime Okemos Office Space

      4,421 SF Class A Office in Woodlands Park
      2501 Woodlake Cir, Okemos, MI 48864
      View Details
    • $15 SF/Yr
      12,400 SF

      2140 University Park Dr

      Office Properties & Spaces • 12,400 SF
      2140 University Park Dr, Okemos, MI 48864
      View Details

    FAQs

    What type of property is this?
    Flex space - Rare Okemos flex space; warehouse & office.
    Where is this flex space located?
    The property is located at 2859 Jolly Rd Okemos, MI.
    What is the lease rate?
    The lease rate is $12 SF/Yr.
    What are key features of this property?
    This property features: 8,400 SF flex space, multi-tenant, with 7,345 SF vacant.; 2.2-acre site, Class B building, constructed in 1981.; Features a 13'6" ceiling height warehouse with one 12' overhead door, 3-phase power, and LED lighting.
    (616) 774-3500 Call to check price and availability
    Request Owner's contact information
    2859 Jolly Rd Okemos, MI 48864
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2859 Jolly Rd
    Okemos, MI 48864
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2859 Jolly Rd Okemos, MI 48864
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Julie O'Brien
    Julie O'Brien
    Real Estate License ID: 6501367787
    (616) 774-3500
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!