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    Property profile & analytics

    2211 Association Dr Okemos, MI 48864-4902

    • Office buildings
    • 12,188 SF
    OFF-MARKET
    Last Sale
    Jan 05, 2021
    Value Estimations
    $550,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-0980094
    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

    • Bailey Amy H / Attorney
    • ADAM / Divorce Service / Divorce Lawyer
    • Terranova Erica / Attorney
    • Bailey & Terranova, P.C. / Divorce Lawyer / Criminal Justice Attorney
    • Multidisciplinary Pain Management Services / Pain Management Physician

    Property Details for 2211 Association Dr

    Year built
    1997
    Property size
    12,188 SF
    Zone code
    PO
    Property type
    Office buildings
    APN
    33-02-02-33-453-008
    APU
    33020233453008

    Description

    This exceptional Class A office building, located at 2211 Association Drive in Okemos, Michigan, presents a unique leasing opportunity. Built in 1997, the property boasts a total of 12,188 square feet and currently features one available suite encompassing 2,970 square feet. Ideal for an executive office user, this space is situated on a 0.9-acre lot in the desirable Meridian Charter Township, Ingham County, and offers abundant parking. The building's "Executive Office" designation reflects its high-quality finishes and amenities. The property's convenient location in Okemos provides easy access to major thoroughfares and local amenities. The building's single-suite configuration offers a unique opportunity for a business seeking a prominent and well-appointed space. The 48864 zip code ensures convenient access to a thriving business community. This is a rare opportunity to secure a well-maintained, spacious, and conveniently located executive office suite in a highly sought-after area. The property's ample parking further enhances its appeal. Serious inquiries are encouraged to explore this exceptional offering.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $550,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Okemos
    County
    Ingham
    State
    Michigan
    Longitude
    -84.431
    Latitude
    42.6855
    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
    $32,587
    $110,000
    $533,400
    $643,400
    -
    $220,000
    $1,066,800
    $1,286,800

    Comparable in this City

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      2160 Hamilton Rd, Unit 8

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    • Value Estimation
      $320,000
      2,325 SF

      2104 Jolly Rd Ste, Unit 240

      OFFICE BUILDING • 2,325 SF
      2104 Jolly Rd Ste, Okemos, MI 48864-6038
      View Details
    • Value Estimation
      $280,000
      844 SF

      4131 Okemos Rd Ste, Unit 12

      OFFICE BUILDING • 844 SF
      4131 Okemos Rd Ste, Okemos, MI 48864-2823
      View Details
    • Value Estimation
      $60,000
      876 SF

      4125 Okemos Rd Ste, Unit 24

      OFFICE BUILDING • 876 SF
      4125 Okemos Rd Ste, Okemos, MI 48864-2820
      View Details
    • Value Estimation
      $145,000
      1,520 SF

      2147 Cmns Pkwy, Unit 31

      OFFICE BUILDING • 1,520 SF
      2147 Cmns Pkwy, Okemos, MI 48864-6922
      View Details
    • Value Estimation
      $565,000
      14,992 SF

      3450 Alaiedon Pkwy, Unit 5

      OFFICE BUILDING • 14,992 SF
      3450 Alaiedon Pkwy, Okemos, MI 48864-4079
      View Details

    Similar Nearby for Sale

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      21,772 SF

      Two-Story Corporate-Style Office Building

      Two-story Class A office building with impressive suite finishes.
      2150 Association Dr, Okemos, MI 48864
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    • $1,795,000

      Well-Maintained Office Building For Sale

      Fully occupied office building in a prominent, accessible location.
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    Similar Nearby for Lease

    • $15 SF/Yr
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      Okemos Office Space: 27,240 SF

      Prime Okemos office space, 1-story building.
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      View Details
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      Prime Meridian Twp Executive Office Space

      13,000 SF Class A Office - Available Now
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      View Details
    • $16 SF/Yr
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      Heritage Office Park Suites

      Executive Suites, Meridian Twp, MI
      3800 Heritage Ave, Meridian charter Township, MI 48864
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    • $16 SF/Yr
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      Okemos Office Space For Lease

      Professional office space available on Jolly Road in Okemos, MI.
      2187 Jolly Rd, Okemos, MI 48864
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      Okemos Road Office Space

      Office space available for rent on Okemos Road.
      4121 Okemos Rd, Okemos, MI 48864
      View Details
    • New
      $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
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    Okemos, MI 48864-4902
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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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