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    Versatile Commercial Space, Farmington Hills Title is generated by Realmo AI

    29920-29912 ORCHARD LAKE Road, Farmington Hills, MI 48334

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    For Lease
    $2,500/Mo $12 SF/Yr (calc)

    Real Estate Only - Farmington Hills, MI

    Property size:
    2,400 SF
    Lot size:
    1.00 Acre
    Added:
    Apr 8, 2026
    Days on Market:
    47
    Last Refresh:
    May 24 at 9:06 pm

    Property Features for 29920-29912 ORCHARD LAKE Road

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Zoning
    Commercial,Multiple,Office,Recreation
    Standard status
    Active
    APN
    2302304033
    Size
    2,400 SF
    Lot size
    1.00 Acre

    Utilities

    Heating system
    Central

    Building Details

    Year built
    1971
    Year renovated
    2010
    Floors in Building
    1
    Building materials
    Block
    Roof type
    Asphalt
    Architectural style
    Other

    We can help!

    Listing Contact
    John Kurczak

    Listing agent John Kurczak

    Listing office Keller Williams Paint Creek 440 S Main Street, Troy, MI

    Listing date Apr 8, 2026

    MLS# 20261023428 Listing URL

    Copyright © 2026 Realcomp Limited II. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Centrally located business space on Orchard Lake Boulevard, just north of the 696 freeway.
    • Suitable for office, retail, or recreation use (previously a medical retailer).
    • Ample parking available in a large parking lot.
    • Newly renovated with fresh paint, new carpeting, and updated lighting and flooring.
    • Rent includes snow removal, lawn care, and water.
    • Multiple suite options available (1400 sq ft for $1600 or 1600/1800 sq ft for $3400).

    Overview

    This commercial space in Farmington Hills, Michigan, presents an opportunity for various business ventures. Situated just north of the 696 freeway on Orchard Lake Boulevard, the location offers accessibility for both employees and customers. The property is suitable for office, retail, or recreational use, having previously served as a medical retailer for years. The space features fresh carpeting and paint, along with updated lighting and flooring. A large parking lot provides ample parking. The landlord is open-minded to different uses. The available space includes 29912 Orchard Lake Road with 1600 square feet and 29920 Orchard Lake Road with 1800 square feet, both available for a combined price. Rent includes snow removal, lawn care, and water. Tenants are responsible for gas and electric utilities. The property is zoned for commercial, multiple, office, and recreational uses. The lot size is 1 acre.
    Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Restaurant Real Estate Agency Building Supply Law Firm Big Box & Wholesale Store Auto Repair Shop Spa & Massage Center Dental Office Hair Salon Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Farmington Hills
    County
    Oakland
    State
    Michigan
    Longitude
    -83.3590946
    Latitude
    42.516569

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    FAQs

    What type of property is this?
    Office units - Adaptable commercial space suitable for office, retail, or recreation.
    Where is this office units located?
    The property is located at 29920-29912 ORCHARD LAKE Road Farmington Hills, MI.
    What is the lease rate?
    The lease rate is $2,500 /Mo.
    What are key features of this property?
    This property features: Centrally located business space on Orchard Lake Boulevard, just north of the 696 freeway.; Suitable for office, retail, or recreation use (previously a medical retailer).; Ample parking available in a large parking lot.
    (248) 649-7200
    We can help!
    Listing Contact
    John Kurczak
    Learn More
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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.

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    29920-29912 ORCHARD LAKE Road, Farmington Hills, MI 48334
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