Entity Owned Property summary
AI-generated overview
This exceptional 2,775 square foot office space is available for lease in a Class A building located at 2150 Association Drive, Suite 140, Meridian Charter Township, MI 48864. Situated in a well-maintained, two-story building constructed in 2005, this property offers a versatile space suitable for executive, traditional, medical, or creative office uses. The building boasts a total of 21,388 square feet and features 99 parking spaces, elevators, and convenient access to I-96. The location is highly desirable, with easy access to the major intersection of Okemos Road and Jolly Road. The space is currently vacant and the landlord is willing to consider subdividing the space to accommodate smaller tenants. This prime location offers a strong tenant mix, including established businesses such as Giarmarco Mullins & Horton, P.C., Heartland Hospice Services LLC, AFLAC, General Psychiatry, iCare Pediatric, and RICEFW Technologies Inc. The zoning is PO. The asking lease rate is $16 per square foot. This is a rare opportunity to secure high-quality office space in a thriving Okemos business community.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2005
Total area
21,388 SF
Zoning code
PO
APN
33-02-02-33-453-004
UPID
US43-0038815
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
(Bike/Boat/Book/etc) Store Corporate Office
-
Insurance Agency
-
Insurance Agency
-
Physician
-
Real Estate Agency
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.96M
Comparable Approach
Comparable
$2.76M
Blend (final)
Blend
$790k
Owner & transaction history
since 2023
5 recorded transactions
Zoning & alternative use
PO · Okemos, MI
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
4 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
Analytics Standard · 5 reports
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from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$790k
Value range
$711k – $869k
±10% around blend
Estimated value / SF
$37 / SF
Confidence
Property data
88
Market benchmarks
100
Comparable evidence
60
$711k
blend $790k
$869k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
21,388 SF
Year built
2005
Stories
2
APN
33-02-02-33-453-004
Zoning
PO
Assessed value
$1,046,600
Annual tax
$53,538
3
Income approach: direct capitalization
Partial preview
Income approach indication
$2.96M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$3.21M
@ 6.5% CAP return
$2.96M
@ 7% CAP return
$2.75M
4
Sales comparison
Partial preview
Sales approach indication
$2.76M
Range $2.12M – $3.51M
Evidence
6 found
Recent peer sales in this city
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$790k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 36 sales
$132
-72%
Submarket 36 sales
$132
-72%
County 168 sales
$93
-60%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $37/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
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Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$1.05M
Move the market yield to see immediate price impact.
Value / SF
$49
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$66k
$1.32M
$942k
$733k
$73k
$1.47M
$1.05M
$814k
$81k
$1.61M
$1.15M
$895k
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Property tax & assessments
Tax year 2019Property tax & assessments
Tax year 2019
Tax billed
$53,538
Tax year 2019
Assessed value
$1,046,600
Assessed 2023
Previous assessed
$1,046,600
+0.0% YoY
Effective rate
5.12%
On assessed value
Assessed land
$160,000
Assessed improvement
$886,600
Land market value
$320,000
Improvement market value
$1,773,200
Total market value
$2,093,200
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2005
Heating
YES
Stories
2
Total area
21,388 SF
Zoning code
PO
APN
33-02-02-33-453-004
UPID
US43-0038815
Jurisdiction
INGHAM
Zoning & alternative use
PO · Okemos, MIZoning PO · permitted uses
PO · Okemos, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
2005
Heating
YES
Stories
2
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
PO
Jurisdiction
Okemos, MI
Recorded code
PO
Ownership Intelligence
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What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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