Farmington Commercial Property with Two
31666 W 8 Mile Road, Farmington, MI 48336
COMMERCIAL - Farmington, MI
Property size:
28,148 SFLot size:
2.76 AcresPrice / SF:
$81/SF- Added:
- Oct 1, 2024
- Days on Market:
- 593
- Last Refresh:
- May 16 at 8:06 pm
Property Features for 31666 W 8 Mile Road
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Bathrooms
- 2
- Rooms
- Bathroom 2, Bathroom 1
- Standard status
- Active
- APN
- 23-34-426-025
- Size
- 28,148 SF
- Lot size
- 2.76 Acres
Taxes and HOA fees
- Tax Year
- 2023
- Tax Description
- T1N, R9E, SEC 34 SUPERVISOR'S PLAT NO 13 E 200 FT OF W 400 FT OF LOT 1 EXC NLY 120 FT
- Tax Annual Amount
- 24863
Utilities
- Heating system
- Forced Air
- Cooling system
- Central Air
Building Details
- Year built
- 1966
- Floors in Building
- 1
- Number of units
- 2
- Building materials
- Block, Brick
Listing agent Dorothy Ohara Blizard License #6502405809 (734) 277-8473
Listing office Global Real Estate Consulting 28175 Haggerty Rd, Novi, MI (734) 277-8473
Listing date Oct 1, 2024
MLS# 24051701
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.
HighLights
- Two buildings on a fully fenced 2.75‑acre lot.
- Main building boasts 22,460 sq. ft. including 3,000 sq. ft. of office space, 15,000 sq. ft. of floor space with 24 ft ceiling heights, and 1,500 sq. ft. lab space.
- Fully air‑conditioned main building with an additional 3,000 sq. ft. 2nd floor office and break room.
- Convenient access with 3 grade‑level doors and a loading dock in the main building, plus 4 grade‑level doors in the secondary building.
- Recently resurfaced and re‑striped lot, freshly repainted main building with new epoxy floors.
- Includes two parcels: 23‑34‑426‑025 and 23‑34‑426‑038.
Overview
This commercial property features two buildings situated on a fully fenced 2.75-acre lot. The main building provides approximately 22,460 square feet of space, which includes 3,000 square feet of office space, 1,500 square feet of lab space, and 15,000 square feet of floor space with ceiling heights reaching up to 24 feet. The main building also features a 3,000 square foot second-floor office and break room. The entire main building is air-conditioned. Access is facilitated by three grade-level doors and a loading dock. The secondary building offers approximately 5,687 square feet of space and includes four grade-level doors. The property has been recently resurfaced and re-striped, and the main building has been freshly repainted with new epoxy floors. This property, suitable for manufacturing, comprises two parcels: 23-34-426-025 and 23-34-426-038.
Financial Insights
Value Estimation Calculated for Warehouse
Conservative
$1.88M
NOI $169,348 @ 9.00% cap · cautious / downside scenario
Moderate
$2.42M
NOI $169,348 @ 7.00% cap · market / base-case scenario
Aggressive
$3.39M
NOI $169,348 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
Calculated for Warehouse
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $206.9k | $7.35 |
| − Vacancy | −$7.7k | −$0.27 |
| EGI | $199.2k | $7.08 |
| − OpEx | −$29.9k | −$1.06 |
| NOI | $169.3k | $6.02 |
28,148 SF · lease $7.35/SF/yr · vacancy 3.70% · expense 15.00%
Alternative Use Scenarios
Best Use
Warehouse
$2.42M
$2.12M – $2.82M
NOI $169,348 @ 7.0% cap · market cap 7.36%
Second Best
Industrial
$1.99M
$1.74M – $2.32M
NOI $139,463 @ 7.0% cap · market cap 6.06%
Theoretical Best
Specialty Retail
$6.07M
$5.31M – $7.08M
NOI $424,990 @ 7.0% cap · market cap 18.48%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Manufacturing properties
Location Insight
- Map
- Local Demand
- City
- Farmington
- County
- Oakland
- State
- Michigan
- Longitude
- -83.35959
- Latitude
- 42.441696
Nearby Similar for Sale
FAQs
What type of property is this?
Manufacturing property - Two buildings on a 2.75-acre lot, ideal for manufacturing.
Where is this manufacturing property located?
The property is located at 31666 W 8 Mile Road Farmington, MI.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: Two buildings on a fully fenced 2.75‑acre lot.; Main building boasts 22,460 sq. ft. including **3,000 sq. ft. of office space, 15,000 sq. ft. of floor space with 24 ft ceiling heights, and 1,500 sq. ft. lab space.**; Fully air‑conditioned main building with an additional 3,000 sq. ft. 2nd floor office and break room.
