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Property profile & analytics
OFF-MARKET
Estimated value
$4,250,000
Automotive properties
2777 Jolly Rd, Okemos, MI 48864-3547
Individually Owned
Absentee Owner
~
Est. High Equity
Property ID
US43-2331194
Property profile
Verified
Property type
Automotive properties
Use group
VEHICLE SALES, RENTALS
Year built
2018
Total area
26,458 SF
Lot
16.65 ac (725,274 SF)
Zoning code
B-1
APN
33-06-06-05-200-043
UPID
US43-2331194
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
-
BMW of Okemos Service Department Car Rental Facility
-
BMW of Okemos Parts Department Auto Repair Shop Vehicle Inspection Center
-
BMW Of Okemos Auto Repair Shop
-
Porsche Okemos Car Dealership
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.31M
Blend (final)
Blend
$4.25M
Owner & transaction history
Serra Works Of Okemos L L C
Serra Works Of Okemos L L C
since 2025
2 recorded transactions
Zoning & alternative use
B-1 · Okemos, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$3.5M
+31.5%
Medical building
$3.3M
+22.5%
Restaurant
$3.1M
+15.9%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$2,660,000
Current use
OFFICE BUILDING
$3,500,000
Change: +31% · Conversion: Difficult
MEDICAL BUILDING
$3,260,000
Change: +22% · Conversion: Difficult
RESTAURANT
$3,085,000
Change: +16% · Conversion: Difficult
COMMERCIAL (GENERAL)
$3,025,000
Change: +14% · Conversion: Moderate
Blend value · Realmo final
$4.25M
Range $3.83M – $4.68M · ±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
$161 / 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
$344,688
Tax year 2022
Assessed value
$6,090,600
Assessed 2023
Previous assessed
$5,918,200
+2.9% YoY
Effective rate
5.66%
On assessed value
Assessed land
$340,900
Assessed improvement
$5,749,700
Land market value
$681,800
Improvement market value
$11,499,400
Total market value
$12,181,200
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
Automotive properties
Use group
VEHICLE SALES, RENTALS
Status
Off-Market
Year built
2018
Heating
ZONE
Buildings
2
Stories
1
Total area
26,458 SF
Lot
16.65 ac (725,274 SF)
Zoning code
B-1
APN
33-06-06-05-200-043
UPID
US43-2331194
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
AUTO REPAIR, GARAGE Current
Est. value
$2.7M
OFFICE BUILDING
Est. value
$3.5M
MEDICAL BUILDING
Est. value
$3.3M
RESTAURANT
Est. value
$3.1M
COMMERCIAL (GENERAL)
Est. value
$3.0M
AUTO REPAIR, GARAGE Current
OFFICE BUILDING
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
2018
Heating
ZONE
Stories
1
Buildings
2
Lot
16.65 ac
Current owner
From public records · entity-resolved
Serra Works Of Okemos L L C
Individual
Mailing address
102 W SILVER LK RD STE #300, FENTON, MI 48430-2847
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 7, 2025
—
Serra Works Of Okemos L L C
—
Deed
related
$6,000,000 · The Huntington National Bank
Sep 4, 2024
—
Serra Works Of Okemos LLC
—
Deed
related
$10,315,592 · The Huntington National Bank
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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