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    The Largest CRE Database in the US with Over 1 Million Listings

    24758 Southfield Rd Southfield, MI 48075

    Sponsored
    For Lease
    $20 SF/Yr ($5,025 /Mo)

    COMMERCIAL - Southfield, MI

    Type:Retail
    Property size:
    3,015 SF
    Lot size:
    0.17 Acres
    Days on Market:
    109
    Last Refresh:
    Feb 12 at 4:06 am

    Property Features for 24758 Southfield Rd

    General Information

    Property type
    Commercial Lease
    Property subtype
    Retail
    Standard status
    Active
    APN
    24-25-102-002
    Parking features
    Driveway
    Fireplace
    1
    Size
    3,015 SF
    Lot size
    0.17 Acres

    Utilities

    Utilities
    Natural Gas Available
    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1962
    Number of units
    1
    Building materials
    Block, Stucco, Brick
    Roof type
    Rubber, Metal

    We can help!

    Listing Contact
    Jeffrey Brikho
    Jeffrey Brikho

    Brikho Properties (248) 835-2303

    Listing agent Jeffrey Brikho (248) 237-4742

    Listing date Oct 27, 2025

    MLS# 25055137

    Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Prime Southfield Road Commercial Space

    Available for lease is a 3,015-square-foot commercial space situated near the southeast corner of 10 Mile and Southfield Road. This location benefits from high traffic, with over 72,000 vehicles passing daily. The property features approximately 72 feet of frontage on Southfield Road, offering significant visibility. The space has been professionally deconstructed and reconfigured into a single open floor plan, incorporating modern systems with updated mechanical, electrical, plumbing, HVAC, and finishes. The property has B-3 zoning, which supports a range of commercial uses, including retail, restaurant, medical, professional office, or fitness studio. The space offers approximately 3,015 square feet of contiguous area, formed by combining two units. It includes rooftop and pylon signage opportunities, 35 surface parking spaces, and rear delivery access. The interior features 16-foot ceilings and a clear-span layout. The property is positioned on a corner, providing exposure on Southfield Road and 10 Mile. Located in Southfield's business corridor, it is near major highways, residential areas, and retail centers. The parking lot is planned to be freshly sealed and striped upon lease execution.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    United HealthCare Food Market My Good Life ... Gym & Fitness Center

    Suggested Use

    Real Estate Agency Restaurant Law Firm Dental Office Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Southfield
    County
    Oakland
    State
    Michigan
    Longitude
    -83.220697
    Latitude
    42.472216

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    FAQs

    What type of property is this?
    Retail space - 3,015 SF commercial space with high visibility and flexible zoning.
    Where is this retail space located?
    The property is located at 24758 Southfield Rd Southfield, MI.
    What is the lease rate?
    The lease rate is $20 SF/Yr.
    What are key features of this property?
    This property features: - Prime location at the high-traffic intersection of 10 Mile and Southfield Road (72,000+ vehicles per day).; - Exceptional visibility with 72 feet of frontage on Southfield Road, plus rooftop and pylon signage opportunities.; - **3,015 sq ft open floor plan with new electrical, plumbing, HVAC, and finishes.**
    (248) 237-4742
    Request Owner's contact information
    24758 Southfield Rd Southfield, MI 48075
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    Southfield, MI 48075
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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
    24758 Southfield Rd Southfield, MI 48075
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    We can help!
    Listing Contact
    Jeffrey Brikho
    Jeffrey Brikho
    Real Estate License ID: 6502416312
    (248) 237-4742
    Learn more
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