New search
Property profile & analytics
OFF-MARKET
Estimated value
$880,000
Retail space
2360 Jolly Rd 1, Okemos, MI 48864-6927
Individually Owned
6-yr Hold
Absentee Owner
Free & Clear
Property ID
US43-1376263
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1979
Total area
8,000 SF
Lot
0.91 ac (39,465 SF)
Zoning code
C-2
APN
33-02-02-33-376-018
UPID
US43-1376263
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
-
Joe's On Jolly Restaurant
-
Spartan Towing & Lockout Auto Repair Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$850k
Comparable Approach
Comparable
$935k
Blend (final)
Blend
$880k
Owner & transaction history
Kurt J Boegner · 6 yrs held
Kurt J Boegner
since 2020
3 recorded transactions
Zoning & alternative use
C-2 · Okemos, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.1M
+66.8%
Medical building
$985,000
+55.4%
Restaurant
$935,000
+47.0%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$920,000
6.5%
$850,000
7%
$790,000
Alternative Use
Use
Estimation
RETAIL STORES
$635,000
Current use
OFFICE BUILDING
$1,060,000
Change: +67% · Conversion: Easy
MEDICAL BUILDING
$985,000
Change: +55% · Conversion: Difficult
RESTAURANT
$935,000
Change: +47% · Conversion: Easy
COMMERCIAL (GENERAL)
$915,000
Change: +44% · Conversion: Easy
AUTO REPAIR, GARAGE
$805,000
Change: +27% · Conversion: Difficult
Blend value · Realmo final
$880k
Range $792k – $968k · ±10%
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
$110 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$63,413
Tax year 2022
Assessed value
$911,800
Assessed 2023
Previous assessed
$150,600
+505.4% YoY
Effective rate
6.95%
On assessed value
Assessed land
$103,600
Assessed improvement
$808,200
Land market value
$207,200
Improvement market value
$1,616,400
Total market value
$1,823,600
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1979
Heating
YES
Stories
1
Total area
8,000 SF
Lot
0.91 ac (39,465 SF)
Zoning code
C-2
APN
33-02-02-33-376-018
UPID
US43-1376263
Jurisdiction
INGHAM
Zoning & alternative use
C-2 · Okemos, MI
Zoning 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
Okemos. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$635,000
OFFICE BUILDING
Est. value
$1.1M
MEDICAL BUILDING
Est. value
$985,000
RESTAURANT
Est. value
$935,000
COMMERCIAL (GENERAL)
Est. value
$915,000
AUTO REPAIR, GARAGE
Est. value
$805,000
RETAIL STORES Current
OFFICE BUILDING
MEDICAL 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
1979
Heating
YES
Stories
1
Lot
0.91 ac
Current owner
From public records · entity-resolved
Kurt J Boegner
Individual
Free & Clear · 6 yrs held
Mailing address
121 W ALLEGAN ST, LANSING, MI 48933-1702
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 17, 2020
—
Kurt J Boegner
Okemos Pointe LLC
Quit Claim Deed
related
—
Mar 28, 2018
—
Okemos Pointe LLC
Kurt J Boegner
Quit Claim Deed
related
—
—
—
Kurt J Boegner
—
Deed Of Trust
related
$482,832 · Dart 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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