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    1665 Hamilton Rd Okemos, MI 48864

    • Medical Office Space
    • 8,152 SF
    • 1.10 lot acres
    For Sale
    View listing
    $14
    Last Sale
    Oct 22, 2020
    $1,600,000
    Value Estimations
    Cap Rate Potential
    3.7%
    Medical Office Space
    Location Intelligence
    Property ID
    US43-0155642
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • NovaCare Rehabilitation - Okemos / Medical Clinic
    • Sarah Mckaig / Physician
    • Dr. Maggie Stein / Physician
    • Nova Care rehibitation- Hamilton / Gym & Fitness Center

    Property Details for 1665 Hamilton Rd

    Year built
    1969
    Lot size
    1.10 lot acres
    Property size
    8,152 SF
    Zone code
    C-2
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    33-02-02-22-405-008
    APU
    33020222405008

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,885,000
      ML approach
      $1,780,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,145,000
      6.5%
      $1,060,000
      7%
      $980,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $974,000
      Market price range: $974k - $1.56M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $1,005,000
      Current use
      OFFICE BUILDING
      $1,080,000
      Change: +7% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Okemos
    County
    Ingham
    State
    Michigan
    Longitude
    -84.4086
    Latitude
    42.7167
    CBSA code
    29620
    CBSA name
    LANSING-EAST LANSING, MI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2019
    $20,375
    $91,100
    $290,200
    $381,300
    -
    $182,200
    $580,400
    $762,600

    Comparable in this City

    • Value Estimation
      $1,580,000
      10,293 SF

      1669 Hamilton Rd

      MEDICAL BUILDING • 10,293 SF
      1669 Hamilton Rd, Okemos, MI 48864-1956
      View Details
    • Value Estimation
      $2,130,000
      25,524 SF

      2445 Jolly Rd

      MEDICAL BUILDING • 25,524 SF
      2445 Jolly Rd, Okemos, MI 48864-4590
      View Details
    • Value Estimation
      $525,000
      3,475 SF

      4084 Okemos Rd

      MEDICAL BUILDING • 3,475 SF
      4084 Okemos Rd, Okemos, MI 48864-3258
      View Details
    • Value Estimation by Request
      2,652 SF

      1841 Newman Rd, Unit 8

      MEDICAL BUILDING • 2,652 SF
      1841 Newman Rd, Okemos, MI 48864-1122
      View Details
    • Value Estimation by Request
      2,747 SF

      4787 Okemos Rd

      MEDICAL BUILDING • 2,747 SF
      4787 Okemos Rd, Okemos, MI 48864-1634
      View Details
    • Value Estimation by Request
      1,844 SF

      269 Jolly Rd, Unit 1

      MEDICAL BUILDING • 1,844 SF
      269 Jolly Rd, Okemos, MI 48864
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Okemos Road Office Space Available

      2,796 SF office space with visibility on Jolly Road.
      2395 Jolly Rd, Okemos, MI 48864
      View Details
    • $429,900
      3,632 SF

      Charming Okemos Office Building For Sale

      Classic 2.5-story Cape Cod office building in downtown Okemos.
      4632 Okemos Rd, Okemos, MI 48864
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      East Lansing Office Space Available

      Two office spaces for lease in East Lansing, Michigan.
      1665 Hamilton Rd, Okemos, MI 48864
      View Details
    • $5,000,000
      53,162 SF

      Woodlands Office Park Gem

      Class A Office Building, 53,162 SF
      2600 Professional Dr, Okemos, MI 48864
      View Details
    • Contact for pricing

      Prime Commercial Property in Okemos

      Flexible office space with access to I-96 and local amenities.
      2342 Woodlake Dr, Okemos, MI 48864
      View Details

    Similar Nearby for Lease

    • $15 SF/Yr
      27,240 SF

      Okemos Office Space: 27,240 SF

      Prime Okemos office space, 1-story building.
      2395 Jolly Rd, 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
      13,000 SF

      Prime Meridian Twp Executive Office Space

      13,000 SF Class A Office - Available Now
      3965 Okemos Rd, Meridian charter Township, MI 48864
      View Details
    • $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
    • $16 SF/Yr
      14,000 SF

      Heritage Office Park Suites

      Executive Suites, Meridian Twp, MI
      3800 Heritage Ave, Meridian charter Township, MI 48864
      View Details
    • $15 SF/Yr
      14,490 SF

      Executive Suites in Okemos, MI

      Prime Office Space Available, Ingham County
      2375 Woodlake Dr, Okemos, MI 48864
      View Details
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    1665 Hamilton Rd
    Okemos, MI 48864
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    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
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