Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2325 Jolly Rd Okemos, MI 48864
    Back to Search
    Property profile & analytics

    2325 Jolly Rd, Okemos, MI 48864

    View on Map
    • Neighborhood centers
    • 24,024 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Neighborhood centers

    Property Details for 2325 Jolly Rd

    Property type
    Neighborhood centers
    Property subtype
    Lifestyle centers

    Description

    Woodland Square, located at 2325, 2337 Jolly Rd in Okemos, Michigan, 48864, presents a unique opportunity for retail businesses seeking a prime location in Ingham County. This single-story, 24,024 square foot shopping center boasts a strategic position at the intersection of Jolly Road and Okemos Road, offering excellent visibility and accessibility. The property features one building with multiple tenancies, providing flexibility for various business needs. Currently, there are 8,498 square feet of vacant space available, divisible into units ranging from a minimum of 1,298 square feet to a maximum contiguous space of 4,600 square feet. Three spaces are currently available. The center benefits from ample on-site parking, ensuring convenient access for customers. Its location provides easy access to I-96, enhancing regional accessibility. The surrounding area is densely populated with a variety of amenities, including restaurants, lodging, gyms, banks, and other retail establishments, creating a vibrant and thriving commercial environment. This property is ideal for businesses seeking high visibility and convenient access to a strong customer base.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Okemos
    County
    Ingham
    State
    Michigan
    Longitude
    -84.436
    Latitude
    42.6824

    Comparable in this City

    • Value Estimation by Request
      968,228 SF

      1982 Grand Riv Rd

      Lifestyle centers
      1982 Grand Riv Rd, Meridian charter Township, MI 48864
      View Details
    • Value Estimation
      $5,825,000
      78,098 SF

      4904 Marsh Rd

      MINI-MALL
      4904 Marsh Rd, Okemos, MI 48864-1102
      View Details
    • Value Estimation
      $715,000
      12,990 SF

      3520 Okemos Rd

      SHOPPING CENTER, STRIP CENTER
      3520 Okemos Rd, Okemos, MI 48864-5943
      View Details
    • Value Estimation
      $1,715,000
      21,420 SF

      1871 Grand Riv Ave

      SHOPPING CENTER, STRIP CENTER
      1871 Grand Riv Ave, Okemos, MI 48864-1840
      View Details
    • Value Estimation
      $1,630,000
      20,802 SF

      3552 Meridian Crossings

      SHOPPING CENTER, STRIP CENTER
      3552 Meridian Crossings, Okemos, MI 48864-6916
      View Details
    • Value Estimation
      $1,995,000
      26,946 SF

      3544 Meridian Crossings

      SHOPPING CENTER, STRIP CENTER
      3544 Meridian Crossings, Okemos, MI 48864-6025
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Regional Shopping Center For Sale

      240,000 SF shopping center anchored by Kroger, Marshalls and Target.
      4886 Marsh Rd, Okemos, MI 48864
      View Details
    • Contact for pricing

      Retail Development Site on Grand River

      5.53 acre retail development site with existing building.
      1492 W Grand River Ave, Okemos, MI 48864
      View Details
    • Contact for pricing
      8,057 SF

      Restaurant Site in Okemos

      Restaurant property in high-traffic Meridian Township entertainment and shopping area.
      4880 Marsh Rd, Okemos, MI 48864
      View Details
    • Contact for pricing
      29,068 SF

      Redevelopment Opportunity Near Meridian Mall

      4.27 acres with frontage on Marsh Road.
      4990 Marsh Rd, Okemos, MI 48864
      View Details
    • New
      Contact for pricing
      2,669 SF

      Freestanding Retail or Office Building

      Freestanding 2,669 SF building with an added four-lane drive-thru and established drive-thru infrastructure for flexible user types.
      4815 Okemos Rd, Okemos, MI 48864
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      21,168 SF

      Grand River Retail/Light Industrial Space

      Retail and light industrial spaces available in Okemos shopping center.
      1850 W Grand River Ave, Okemos, MI 48864
      View Details
    • Contact for pricing

      Retail Space on Jolly Road

      Retail space for rent with on-site parking and easy access.
      2325 Jolly Rd, Okemos, MI 48864
      View Details
    • Contact for pricing

      Okemos Retail Strip Center Space

      Retail and office spaces for rent in Okemos, Michigan.
      1754 Central Park Dr, Okemos, MI 48864
      View Details
    • Contact for pricing

      Retail Space Inside Meijer

      Prime retail opportunity within high-traffic Meijer stores in the Midwest.
      2055 W Grand River Ave, Okemos, MI 48864
      View Details
    • Contact for pricing

      Former Bank Space with Drive-Thru

      Former bank space with drive-thru, expansion potential, high-traffic location.
      1575 W Grand River Ave, Okemos, MI 48864
      View Details
    • Contact for pricing

      Flex Space Near I-96

      Flex space strategically located near I-96 and US 127.
      2803-2813 Jolly Rd, Okemos, MI 48864
      View Details
    Request Owner's contact information
    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.
    2325 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
    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

    Thank You for Inquiry
    2325 Jolly Rd, Okemos, MI, 48864
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!