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    4904 Marsh Rd Okemos, MI 48864-1102
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    Property profile & analytics

    4904 Marsh Rd, Okemos, MI 48864-1102

    View on Map
    • Community centers
    • 78,098 SF
    • 5.33 lot acres
    Off-Market
    Property ID
    US43-1265752
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $5,825,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Five Below / (Bike/Boat/Book/etc) Store

    Property Details for 4904 Marsh Rd

    Year built
    1988
    Lot size
    5.33 lot acres
    Zone code
    C-3
    Property type
    Community centers
    Property subtype
    Shopping centers
    APN
    33-02-02-22-126-022
    APU
    33020222126022

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Sep 4, 2013 — Tkg Meridian Towne Centre LLC Viking Partners Lansing LLC Warranty Deed $9.4M · Db Private Wealth Mortgage
    Dec 27, 2012 — Viking Partners Lansing LLC — Deed Of Trust · related $18.5M · Huntington National Bank
    Jul 27, 2012 — Us Bk NA 2005-top20 Bank Of America 2005-top20 Grant Deed —
    Oct 24, 2011 $7,500,000 Bank Of America 2005-top20 Sheriff Of Ingham County Trustees Deed · related —
    Aug 29, 2011 $7,500,000 Bank Of America NA 2005-top20 Sheriff Of Ingham County Trustees Deed · related —
    Aug 26, 2005 — Np & I & G Meridian LLC Michigan Meridian INC Grant Deed $9.4M · Bear Stearns Commercial Mortgage INC
    — — Viking Partners Lansing LLC — Loan Modification · related $27.2M · Huntington National Bank

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $7,020,000
      Market price range: $2.99M - $7.02M
      AI Estimate
      $4,856,000
      Market price range: $2.21M - $4.86M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $5,010,000
      Current use
      MEDICAL BUILDING
      $9,625,000
      Change: +92% Conversion: Difficult
      RESTAURANT
      $9,105,000
      Change: +82% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $8,920,000
      Change: +78% Conversion: Easy
      AUTO REPAIR, GARAGE
      $7,860,000
      Change: +57% Conversion: Difficult
      RETAIL STORES
      $6,195,000
      Change: +24% Conversion: Easy
      WAREHOUSE, STORAGE
      $5,115,000
      Change: +2% Conversion: Difficult

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Okemos
    County
    Ingham
    State
    Michigan
    Longitude
    -84.4139
    Latitude
    42.7253
    CBSA code
    29620
    CBSA name
    LANSING-EAST LANSING, MI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2019
    $325,641
    $1,160,000
    $5,167,900
    $6,327,900
    -
    $2,320,000
    $10,335,800
    $12,655,800

    Comparable in this City

    • Value Estimation by Request
      24,024 SF

      2325 Jolly Rd

      Neighborhood centers
      2325 Jolly Rd, Okemos, MI 48864
      View Details
    • Value Estimation by Request
      968,228 SF

      1982 Grand Riv Rd

      Lifestyle centers
      1982 Grand Riv Rd, Meridian charter Township, MI 48864
      View Details
    • Value Estimation
      $18,420,000
      812,293 SF

      1982 Grand Riv Ave

      REGIONAL SHOPPING CENTER, MALL
      1982 Grand Riv Ave, Okemos, MI 48864-1736
      View Details
    • Value Estimation
      $715,000
      12,990 SF

      3520 Okemos Rd

      SHOPPING CENTER, STRIP CENTER
      3520 Okemos Rd, Okemos, MI 48864-5943
      View Details
    • Value Estimation
      $5,195,000
      100,754 SF

      5110 Times Sq Pl

      WHOLESALE OUTLET, DISCOUNT STORE
      5110 Times Sq Pl, Okemos, MI 48864-1161
      View Details
    • Value Estimation
      $1,245,000
      16,900 SF

      2360 Jolly Rd, Unit 1

      WHOLESALE OUTLET, DISCOUNT STORE
      2360 Jolly Rd, Okemos, MI 48864-6927
      View Details

    Similar Nearby for Sale

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      Regional Shopping Center For Sale

      240,000 SF shopping center anchored by Kroger, Marshalls and Target.
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      Retail Development Site on Grand River

      5.53 acre retail development site with existing building.
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      8,057 SF

      Restaurant Site in Okemos

      Restaurant property in high-traffic Meridian Township entertainment and shopping area.
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      29,068 SF

      Redevelopment Opportunity Near Meridian Mall

      4.27 acres with frontage on Marsh Road.
      4990 Marsh Rd, Okemos, MI 48864
      View Details
    • New
      Contact for pricing
      2,669 SF

      Freestanding Retail or Office Building

      Freestanding 2,669 SF building with an added four-lane drive-thru and established drive-thru infrastructure for flexible user types.
      4815 Okemos Rd, Okemos, MI 48864
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    Similar Nearby for Lease

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      Okemos Retail Strip Center Space

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      Retail Space Inside Meijer

      Prime retail opportunity within high-traffic Meijer stores in the Midwest.
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      Former Bank Space with Drive-Thru

      Former bank space with drive-thru, expansion potential, high-traffic location.
      1575 W Grand River Ave, Okemos, MI 48864
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      21,168 SF

      Grand River Retail/Light Industrial Space

      Retail and light industrial spaces available in Okemos shopping center.
      1850 W Grand River Ave, Okemos, MI 48864
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      Retail Space on Jolly Road

      Retail space for rent with on-site parking and easy access.
      2325 Jolly Rd, Okemos, MI 48864
      View Details
    • Contact for pricing

      Flex Space Near I-96

      Flex space strategically located near I-96 and US 127.
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      View Details
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    Okemos, MI 48864-1102
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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