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Property profile & analytics
FOR LEASE
Medical Office Space
1665 Hamilton Rd Okemos, MI 48864
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US43-0155642
For Lease
1 / 4
Contact for pricing
1665 Hamilton Rd, Okemos, MI 48864
View Listing →
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1969
Total area
8,152 SF
Lot
1.1 ac (47,916 SF)
Zoning code
C-2
APN
33-02-02-22-405-008
UPID
US43-0155642
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
NovaCare Rehabilitation - Okemos Medical Clinic
-
Sarah Mckaig Physician
-
Dr. Maggie Stein Physician
-
Nova Care rehibitation- Hamilton Gym & Fitness Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.78M
CAP Approach
CAP
$1.06M
Comparable Approach
Comparable
$974k
Blend (final)
Blend
$1.59M
Owner & transaction history
American Computer Properties INC · 5 yrs held
American Computer Properties INC
since 2020
Last sale
$1.6M
1 recorded transaction
Zoning & alternative use
C-2 · Okemos, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.1M
+7.4%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Okemos submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Okemos submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue 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
Alternative Use
Use
Estimation
MEDICAL BUILDING
$1,005,000
Current use
OFFICE BUILDING
$1,080,000
Change: +7% · Conversion: Easy
Blend value · Realmo final
$1.59M
Range $1.43M – $1.74M · ±10% · vs last sale $1.60M (Oct 22 2020)
Last sale anchor
$1.60M
Oct 22 2020
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$194 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2019Property tax & assessments
Tax year 2019
Tax billed
$20,375
Tax year 2019
Assessed value
$381,300
Assessed 2023
Previous assessed
$346,400
+10.1% YoY
Effective rate
5.34%
On assessed value
Assessed land
$91,100
Assessed improvement
$290,200
Land market value
$182,200
Improvement market value
$580,400
Total market value
$762,600
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Status
For Lease
Year built
1969
Heating
YES
Stories
1
Total area
8,152 SF
Lot
1.1 ac (47,916 SF)
Zoning code
C-2
APN
33-02-02-22-405-008
UPID
US43-0155642
Jurisdiction
INGHAM
Zoning & alternative use
C-2 · Okemos, MIZoning C-2 · permitted uses
C-2 · Okemos, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$1.0M
OFFICE BUILDING
Est. value
$1.1M
MEDICAL BUILDING Current
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1969
Heating
YES
Stories
1
Lot
1.1 ac
Current owner
From public records · entity-resolved
American Computer Properties INC
Entity
Mailing address
PO BOX 250429, FRANKLIN, MI 48025-0429
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 22, 2020
$1,600,000
American Computer Properties INC
Meridian Professional LLC
Warranty Deed
$1,280,000 · Michigan State University FCU
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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