Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$1,880,000
Retail space
5135 Times Sq Pl Okemos, MI 48864-1100
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US43-0934110
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2005
Total area
30,333 SF
Lot
3.3 ac (143,922 SF)
Zoning code
CS
APN
33-02-02-15-400-029
UPID
US43-0934110
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.86M
Blend (final)
Blend
$1.88M
Owner & transaction history
Hannawa Holdings Auburn LLC · 9 yrs held
Hannawa Holdings Auburn LLC
since 2017
4 recorded transactions
Zoning & alternative use
CS · Okemos, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$3.1M
+26.9%
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
RETAIL STORES
$2,405,000
Current use
AUTO REPAIR, GARAGE
$3,050,000
Change: +27% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,985,000
Change: -17% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,945,000
Change: -19% · Conversion: Moderate
Blend value · Realmo final
$1.88M
Range $1.69M – $2.07M · ±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
$62 / 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 2019Property tax & assessments
Tax year 2019
Tax billed
$91,115
Tax year 2019
Assessed value
$1,474,700
Assessed 2023
Previous assessed
$1,388,600
+6.2% YoY
Effective rate
6.18%
On assessed value
Assessed land
$518,100
Assessed improvement
$956,600
Land market value
$1,036,200
Improvement market value
$1,913,200
Total market value
$2,949,400
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
2005
Heating
YES
Stories
1
Total area
30,333 SF
Lot
3.3 ac (143,922 SF)
Zoning code
CS
APN
33-02-02-15-400-029
UPID
US43-0934110
Jurisdiction
INGHAM
Zoning & alternative use
CS · Okemos, MI
Zoning CS · permitted uses
CS · 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
$2.4M
AUTO REPAIR, GARAGE
Est. value
$3.1M
WAREHOUSE, STORAGE
Est. value
$2.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.9M
RETAIL STORES Current
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
NEIGHBORHOOD: SHOPPING CENTER
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
2005
Heating
YES
Stories
1
Lot
3.3 ac
Current owner
From public records · entity-resolved
Hannawa Holdings Auburn LLC
Entity
Mailing address
2909 E BIG BEAVER RD, TROY, MI 48083-2467
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 10, 2024
—
Hannawa Holdings Auburn LLC
—
Deed
related
$3,937,500 · Community Choice Cu
Jun 6, 2017
—
Hannawa Holdings Auburn LLC
Wells Fargo Bk N 2007-c1
Trustees Deed
$3,937,500 · Community Choice Cu
Aug 11, 2015
$6,473,000
Wells Fargo Bk NA SR 2007-c1 Tr
Sheriff Of Ingham County|r & D Okemos Retail LLC
Trustees Deed
related
—
Dec 12, 2006
—
R & D Okemos Retail LLC
Louis J Eyde Ltd Fam Ptshp
Grant Deed
$6,975,000 · Column Financial INC
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 5135 Times Sq Pl?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
