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    Updated Retail/Office Space Available Title is generated by Realmo AI

    31822 Grand River Avenue, Farmington, MI 48336

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    For Lease
    $1,400/Mo $4 SF/Yr (calc)

    Real Estate Only - Farmington, MI

    Property size:
    4,038 SF
    Lot size:
    0.32 Acres
    Added:
    Jan 8, 2026
    Days on Market:
    121
    Last Refresh:
    May 9 at 12:06 am

    Property Features for 31822 Grand River Avenue

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Zoning
    Commercial,Multiple,Office
    Standard status
    Active
    APN
    2327403135
    Size
    4,038 SF
    Lot size
    0.32 Acres

    Building Details

    Year built
    1986
    Year renovated
    2024
    Floors in Building
    1
    Building materials
    Block, Brick, Stucco
    Architectural style
    Other

    We can help!

    Listing Contact
    Fadi Dabaja
    Fadi Dabaja

    Listing agent Fadi Dabaja

    Listing office EXP Realty Main 39555 Orchard Hill Place Ste 600, Royal Oak, MI

    Listing date Jan 8, 2026

    MLS# 20261001340 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

    • Prime location on Grand River Avenue with high visibility and easy access to M‑5, I‑696, and I‑275.
    • Recently updated in 2024 with a modernized facade, expansive storefront windows, and a clean, open interior.
    • Versatile 1,050 sq ft space suitable for retail, office, medical, or service businesses.
    • Ample on‑site, lighted parking and strong street presence.
    • Located in a well‑maintained neighborhood shopping plaza in Farmington, near established residential areas and major retail nodes.
    • Flexible lease terms and gross lease structure with exterior maintenance included.

    Overview

    Available for lease is a highly visible retail/office suite within a well-maintained neighborhood shopping plaza located on Grand River Avenue near Orchard Lake Road in Farmington, one of Oakland County’s established commercial corridors. The space offers approximately 1,050 square feet within a single-story plaza recently updated in 2024, featuring a modernized façade, expansive storefront windows, and a clean, open interior layout ideal for customization. The suite includes durable flooring, bright lighting, and flexible open areas suitable for retail display, professional offices, medical or wellness use, service businesses, or boutique concepts. The plaza provides ample on-site, lighted parking, and strong street presence. The property benefits from strong location advantages, positioned along Grand River Avenue, a major east-west thoroughfare with steady traffic counts, and just minutes from M-5, I-696, and I-275, providing easy access throughout Metro Detroit. Nearby landmarks include downtown Farmington, Orchard Lake Road retail nodes, national retailers, established residential neighborhoods, and a strong daytime population supported by nearby offices and medical facilities. Zoned for commercial, office, retail, and service uses, the space supports a wide range of permitted business types including retail shops, professional offices, medical or therapy practices, beauty and wellness services, tutoring or education centers, specialty food concepts, and neighborhood service providers. The surrounding demographics reflect a stable, middle-to-upper-income population, strong owner-occupied housing, and consistent consumer demand for local goods and services. With a gross lease structure, exterior maintenance included, and flexible lease terms available, this location offers an excellent opportunity for both start-up and established businesses seeking visibility, accessibility, and long-term growth in a proven commercial marketplace.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    VIP BARBER SHOP Barber Shop

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Farmington
    County
    Oakland
    State
    Michigan
    Longitude
    -83.3611136
    Latitude
    42.4588038

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    FAQs

    What type of property is this?
    Retail space - Highly visible, updated retail/office suite in Farmington, Michigan.
    Where is this retail space located?
    The property is located at 31822 Grand River Avenue Farmington, MI.
    What is the lease rate?
    The lease rate is $1,400 /Mo.
    What are key features of this property?
    This property features: Prime location on Grand River Avenue with high visibility and easy access to M‑5, I‑696, and I‑275.; Recently updated in 2024 with a modernized facade, expansive storefront windows, and a clean, open interior.; Versatile 1,050 sq ft space suitable for retail, office, medical, or service businesses.
    (313) 600-6189
    We can help!
    Listing Contact
    Fadi Dabaja
    Fadi Dabaja
    Real Estate License ID: 6506045188
    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.

    More about this property
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