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Property profile & analytics
OFF-MARKET
Estimated value
$5,555,000
Retail residential properties
2985 Mt Hope Rd Okemos, MI 48864-1928
Entity Owned
18-yr Hold
~
Est. High Equity
Property ID
US43-0974617
Property profile
Verified
Property type
Retail residential properties
Use group
STORES & APARTMENTS
Year built
2007
Total area
31,178 SF
Lot
3.13 ac (136,343 SF)
Zoning code
PO
APN
33-02-02-29-101-001
UPID
US43-0974617
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
-
Allstate Insurance: Joseph Dunn Insurance Agency
-
Daeheung Rubber & Technology Co., Ltd. Factory Chemical Plant
-
Well Spa & Nails Nail Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$4.75M
Comparable Approach
Comparable
$6.18M
Blend (final)
Blend
$5.56M
Owner & transaction history
Hamptons Of Meridian LLC · 18 yrs held
Hamptons Of Meridian LLC
since 2007
5 recorded transactions
Zoning & alternative use
PO · Okemos, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$4.1M
+15.8%
Medical building
$3.8M
+7.9%
Restaurant
$3.6M
+2.1%
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%
$5,145,000
6.5%
$4,750,000
7%
$4,410,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$3,560,000
Current use
OFFICE BUILDING
$4,125,000
Change: +16% · Conversion: Easy
MEDICAL BUILDING
$3,845,000
Change: +8% · Conversion: Easy
RESTAURANT
$3,635,000
Change: +2% · Conversion: Difficult
Blend value · Realmo final
$5.56M
Range $5.00M – $6.11M · ±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
$178 / 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
$107,718
Tax year 2022
Assessed value
$1,751,900
Assessed 2023
Previous assessed
$1,622,300
+8.0% YoY
Effective rate
6.15%
On assessed value
Assessed land
$209,100
Assessed improvement
$1,542,800
Land market value
$418,200
Improvement market value
$3,085,600
Total market value
$3,503,800
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 residential properties
Use group
STORES & APARTMENTS
Status
Off-Market
Year built
2007
Heating
YES
Buildings
2
Stories
3
Total area
31,178 SF
Lot
3.13 ac (136,343 SF)
Zoning code
PO
APN
33-02-02-29-101-001
UPID
US43-0974617
Jurisdiction
INGHAM
Zoning & alternative use
PO · Okemos, MI
Zoning PO · permitted uses
PO · 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
COMMERCIAL (GENERAL) Current
Est. value
$3.6M
OFFICE BUILDING
Est. value
$4.1M
MEDICAL BUILDING
Est. value
$3.8M
RESTAURANT
Est. value
$3.6M
COMMERCIAL (GENERAL) Current
OFFICE BUILDING
MEDICAL BUILDING
RESTAURANT
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
2007
Heating
YES
Stories
3
Buildings
2
Lot
3.13 ac
Current owner
From public records · entity-resolved
Hamptons Of Meridian LLC
Entity
Mailing address
2502 LK LANSING RD STE C, LANSING, MI 48912-3661
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 23, 2018
—
Hamptons Of Meridian LLC
—
Deed
related
$4,650,000 · Arbor Com'l Fndg I LLC
Dec 3, 2007
$750,000
Hamptons Of Meridian LLC
Dtn Investment Co
Quit Claim Deed
related
$4,500,000 · Fifth Third Bank Western Michigan
Jan 6, 2005
—
Dtn Investment Co
Garb Ko INC
Warranty Deed
$250,000 · Independent Bank South Michigan
—
—
Hamptons Of Meridian LLC
—
Deed Of Trust
related
$4,650,000 · Arbor Com'l Fndg I LLC
—
—
Hamptons Of Meridian LLC
—
Deed Of Trust
related
$4,250,000 · Pnc 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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