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Property profile & analytics
OFF-MARKET
Estimated value
$1,000,000
Strip malls
4738 Central Park Dr Okemos, MI 48864-1971
Entity Owned
Absentee Owner
Free & Clear
Property ID
US43-1873115
Property summary
AI-generated overview
Okemos Plaza, located at 4738 Central Park Dr in Meridian Charter Township, MI 48864, offers a fantastic retail opportunity. This high-occupancy shopping center boasts a total of 19,168 square feet across two buildings, situated on 3 acres of land. The property features 200 parking spaces and benefits from a highly visible location at a signalized corner on Grand River Avenue. Currently, there is 2,250 square feet of vacant retail space available, with a minimum divisible space of 2,250 square feet. The building was constructed in 2001 and is zoned for commercial use. The property consists of eight total suites, providing flexibility for various retail businesses. This prime location offers excellent visibility and accessibility, making it an ideal space for businesses seeking high foot traffic and convenient access for customers. The property's strategic location and ample parking make it an attractive option for a variety of retail uses. Interested parties should inquire about lease terms and availability.
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2001
Total area
12,065 SF
Lot
1.73 ac (75,359 SF)
Zoning code
C-2
APN
33-02-02-22-401-012
UPID
US43-1873115
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
-
Bank of America ATM (Drive-thru) Atm
-
Moka & Co Cafe & Coffee Shop
-
Bank of America (with Drive-thru ATM) Bank Loan Service
-
President Tuxedo (Bike/Boat/Book/etc) Store Clothing & Fashion Store
-
Beyond A Dream, LLC Alternative Medicine Practice Spa & Massage Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.08M
Blend (final)
Blend
$1.00M
Owner & transaction history
CHAPTER 3 HOLDINGS LLC & BULL HOLDINGS LLC
CHAPTER 3 HOLDINGS LLC & BULL HOLDINGS LLC
Zoning & alternative use
C-2 · Okemos, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.6M
+106.2%
Medical building
$1.5M
+92.1%
Restaurant
$1.4M
+81.7%
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
NEIGHBORHOOD: SHOPPING CENTER
$775,000
Current use
OFFICE BUILDING
$1,595,000
Change: +106% · Conversion: Moderate
MEDICAL BUILDING
$1,485,000
Change: +92% · Conversion: Difficult
RESTAURANT
$1,405,000
Change: +82% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,380,000
Change: +78% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,215,000
Change: +57% · Conversion: Difficult
RETAIL STORES
$955,000
Change: +24% · Conversion: Easy
WAREHOUSE, STORAGE
$790,000
Change: +2% · Conversion: Difficult
Blend value · Realmo final
$1.00M
Range $900k – $1.10M · ±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
$83 / 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
$48,461
Tax year 2022
Assessed value
$819,500
Assessed 2023
Previous assessed
$783,600
+4.6% YoY
Effective rate
5.91%
On assessed value
Assessed land
$452,000
Assessed improvement
$367,500
Land market value
$904,000
Improvement market value
$735,000
Total market value
$1,639,000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
2001
Heating
YES
Stories
1
Total area
12,065 SF
Lot
1.73 ac (75,359 SF)
Zoning code
C-2
APN
33-02-02-22-401-012
UPID
US43-1873115
Jurisdiction
INGHAM
Zoning & alternative use
C-2 · Okemos, MIZoning 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
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$775,000
OFFICE BUILDING
Est. value
$1.6M
MEDICAL BUILDING
Est. value
$1.5M
RESTAURANT
Est. value
$1.4M
COMMERCIAL (GENERAL)
Est. value
$1.4M
AUTO REPAIR, GARAGE
Est. value
$1.2M
RETAIL STORES
Est. value
$955,000
WAREHOUSE, STORAGE
Est. value
$790,000
NEIGHBORHOOD: SHOPPING CENTER Current
OFFICE BUILDING
MEDICAL BUILDING
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
RETAIL STORES
WAREHOUSE, STORAGE
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
2001
Heating
YES
Stories
1
Lot
1.73 ac
Current owner
From public records · entity-resolved
CHAPTER 3 HOLDINGS LLC & BULL HOLDINGS LLC
Entity
Free & Clear · 0 yrs held
Mailing address
1901 HARRISON ST FL #2, OAKLAND, CA 94612-3574
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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