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Property profile & analytics
OFF-MARKET
Estimated value
$540,000
Office buildings
2220 University Park Dr 28, Okemos, MI 48864-3966
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US43-1284801
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1987
Total area
3,920 SF
Lot
0.34 ac (14,810 SF)
Zoning code
B-1
APN
33-06-06-04-201-042
UPID
US43-1284801
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
-
Hranilovich Thomas E Physician Medical Clinic
-
Michalowski Susan M Physician
-
Whitehead Lisa Medical Clinic
-
Sigal Tatyana MD Physician
-
Berry Char Family Counselor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$470k
CAP Approach
CAP
$545k
Comparable Approach
Comparable
$593k
Blend (final)
Blend
$540k
Owner & transaction history
Kjd Property LLC · 4 yrs held
Kjd Property LLC
since 2021
Last sale
$407,500
6 recorded transactions
Zoning & alternative use
B-1 · Okemos, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$530,000
ML approach
$470,000
CAP Approach
CAP Return
Estimation
6%
$590,000
6.5%
$545,000
7%
$505,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$520,000
Current use
MEDICAL BUILDING
$485,000
Change: -7% · Conversion: Easy
COMMERCIAL (GENERAL)
$450,000
Change: -14% · Conversion: Easy
Blend value · Realmo final
$540k
Range $486k – $594k · ±10% · vs last sale $408k (Sep 9 2021)
Last sale anchor
$408k
Sep 9 2021
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
$138 / 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
$10,202
Tax year 2019
Assessed value
$224,600
Assessed 2023
Previous assessed
$210,000
+7.0% YoY
Effective rate
4.54%
On assessed value
Assessed land
$22,200
Assessed improvement
$202,400
Land market value
$44,400
Improvement market value
$404,800
Total market value
$449,200
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1987
Heating
ZONE
Stories
2
Total area
3,920 SF
Lot
0.34 ac (14,810 SF)
Zoning code
B-1
APN
33-06-06-04-201-042
UPID
US43-1284801
Jurisdiction
INGHAM
Zoning & alternative use
B-1 · Okemos, MI
Zoning B-1 · permitted uses
B-1 · Okemos, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Okemos. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$520,000
MEDICAL BUILDING
Est. value
$485,000
COMMERCIAL (GENERAL)
Est. value
$450,000
OFFICE BUILDING Current
MEDICAL BUILDING
COMMERCIAL (GENERAL)
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
1987
Heating
ZONE
Stories
2
Lot
0.34 ac
Current owner
From public records · entity-resolved
Kjd Property LLC
Entity
Mailing address
1817 WALNUT HTS DR, EAST LANSING, MI 48823-2945
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 17, 2021
—
Kjd Property LLC
—
Deed
related
$170,000 · Michigan Certified Development Corp
Sep 9, 2021
$407,500
Kjd Property LLC
Gm Property II LLC
Warranty Deed
$206,350 · Flagstar Bank Fsb
Sep 4, 2014
—
Gm Property II LLC
George F Eyde Family LLC
Warranty Deed
$316,000 · Horizon Bank NA
—
—
Gm Property II LLC
—
Deed Of Trust
related
$168,000 · Community Dev Commission
—
—
Gm Property II LLC
—
Deed Of Trust
related
$201,500 · Community Dev Commission
—
—
Gm Property II LLC
—
Loan Modification
related
$201,500 · Horizon Bk
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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