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Property profile & analytics
FOR SALE
Office buildings
2342 Woodlake Dr, Okemos, MI 48864
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US43-0108797
For Sale
1 / 52
$670,000
2342 Woodlake Dr, Okemos, MI 48864
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1995
Total area
5,921 SF
Lot
1.1 ac (47,916 SF)
Zoning code
B-1
APN
33-06-06-04-101-019
UPID
US43-0108797
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
-
MPHI Office of Accreditation and Quality Improvement Association Or Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$685k
CAP Approach
CAP
$820k
Comparable Approach
Comparable
$680k
Blend (final)
Blend
$670k
Owner & transaction history
2342 Woodlake LLC · 3 yrs held
2342 Woodlake LLC
since 2023
Last sale
$550,000
4 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
$775,000
ML approach
$685,000
CAP Approach
CAP Return
Estimation
6%
$890,000
6.5%
$820,000
7%
$760,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$785,000
Current use
MEDICAL BUILDING
$730,000
Change: -7% · Conversion: Easy
RESTAURANT
$690,000
Change: -12% · Conversion: Moderate
COMMERCIAL (GENERAL)
$675,000
Change: -14% · Conversion: Easy
Blend value · Realmo final
$670k
Range $603k – $737k · ±10% · vs last sale $550k (Jun 9 2023)
Last sale anchor
$550k
Jun 9 2023
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
$113 / 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
$12,434
Tax year 2019
Assessed value
$257,300
Assessed 2023
Previous assessed
$231,900
+11.0% YoY
Effective rate
4.83%
On assessed value
Assessed land
$71,900
Assessed improvement
$185,400
Land market value
$143,800
Improvement market value
$370,800
Total market value
$514,600
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
Office buildings
Use group
OFFICE BUILDING
Status
For Sale
Year built
1995
Heating
ZONE
Stories
1
Total area
5,921 SF
Lot
1.1 ac (47,916 SF)
Zoning code
B-1
APN
33-06-06-04-101-019
UPID
US43-0108797
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
$785,000
MEDICAL BUILDING
Est. value
$730,000
RESTAURANT
Est. value
$690,000
COMMERCIAL (GENERAL)
Est. value
$675,000
OFFICE BUILDING Current
MEDICAL BUILDING
RESTAURANT
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
1995
Heating
ZONE
Stories
1
Lot
1.1 ac
Current owner
From public records · entity-resolved
2342 Woodlake LLC
Entity
Mailing address
2000 TIMBERVIEW DR, OKEMOS, MI 48864-5998
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 9, 2023
$550,000
2342 Woodlake LLC
Eyde Ironpoint LLC
Deed
—
Jul 23, 2015
—
Eyde Ironpoint Lc
Fii Mc5 Off Lansing LLC
Deed
$13,100,000 · Comerica Bank
Apr 18, 2013
$5,500,000
Fii-m C5-off-lansing LLC
Sheriff Of Ingham County
Trustees Deed
—
—
—
Fii-mc5-off-lansing LLC
—
Deed Of Trust
related
$22,579,000 · A10 Cap
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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