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Property profile & analytics
OFF-MARKET
Estimated value
$1,580,000
Medical Office Space
1669 Hamilton Rd Okemos, MI 48864-1956
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US43-1087237
Property summary
AI-generated overview
This single-story, 10,293 square foot office building is located at 1669 Hamilton Rd, Meridian Charter Township, MI 48864, near the intersection of Dobie Rd and Hamilton St. The property, built in 1989, is classified as Class B and sits on a 47,176 square foot lot. Currently, there are three suites available for lease within the building, suitable for a variety of office uses. The zoning is C-2, allowing for flexibility in tenant occupancy. The building's total square footage is 10,293, with one suite currently available at 2,693 square feet. This property is ideal for businesses seeking a traditional office space, executive office suites, or medical office space, given its flexible zoning and multiple suite options. The property's Ingham County location provides easy access to local amenities and transportation routes. The APN is 33-02-02-22-405-007. This is a multi-tenant building offering a great opportunity for businesses of various sizes. The property's location in Meridian Charter Township offers a desirable business environment.
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1989
Total area
10,293 SF
Lot
1.08 ac (47,132 SF)
Zoning code
C-2
APN
33-02-02-22-405-007
UPID
US43-1087237
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
-
Barajas Luis A MD Physician
-
Roddel Janette E Physician
-
Pandit Rheumatology Medical Clinic
-
Terri A. Wolf, DO Physician
-
Meridian Eyecare P.C. Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.83M
CAP Approach
CAP
$1.34M
Comparable Approach
Comparable
$1.23M
Blend (final)
Blend
$1.58M
Owner & transaction history
American Computer Properties INC · 5 yrs held
American Computer Properties INC
since 2020
Last sale
$1.6M
2 recorded transactions
Zoning & alternative use
C-2 · Okemos, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.4M
+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
$1,825,000
CAP Approach
CAP Return
Estimation
6%
$1,445,000
6.5%
$1,335,000
7%
$1,240,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$1,270,000
Current use
OFFICE BUILDING
$1,360,000
Change: +7% · Conversion: Easy
RESTAURANT
$1,200,000
Change: -5% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,175,000
Change: -7% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,035,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$1.58M
Range $1.42M – $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
$154 / 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
$26,022
Tax year 2019
Assessed value
$510,300
Assessed 2023
Previous assessed
$460,100
+10.9% YoY
Effective rate
5.10%
On assessed value
Assessed land
$100,100
Assessed improvement
$410,200
Land market value
$200,200
Improvement market value
$820,400
Total market value
$1,020,600
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
Off-Market
Year built
1989
Heating
YES
Stories
1
Total area
10,293 SF
Lot
1.08 ac (47,132 SF)
Zoning code
C-2
APN
33-02-02-22-405-007
UPID
US43-1087237
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
$1.3M
OFFICE BUILDING
Est. value
$1.4M
RESTAURANT
Est. value
$1.2M
COMMERCIAL (GENERAL)
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$1.0M
MEDICAL BUILDING Current
OFFICE BUILDING
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
1989
Heating
YES
Stories
1
Lot
1.08 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
2 recorded events · 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
—
—
Meridian Professional LLC
—
Deed Of Trust
related
$1,200,000 · Farm Bureau Life Ins Michigan
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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