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    42350 Grand River Ave Novi, MI 48375

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    For Sale
    Contact for pricing

    Value-add property with long-term tenant in Novi, Michigan.

    Property size:
    37,260 SF

    Property Features for 42350 Grand River Ave

    General Information

    Size
    37,260 SF

    Building Details

    Year built
    1995

    Source: Todd Szymczak Agent Todd Szymczak

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Novi Mixed-Use Investment Opportunity

    Located at 42350 Grand River Avenue in Novi, Michigan, this 37,260-square-foot mixed-use property, constructed in 1995 and significantly renovated in 2021, presents a compelling investment opportunity. The property is anchored by GR Medical under a long-term triple-net lease. The property is positioned to attract both medical and traditional office tenants, benefiting from Novi's affluent demographics and business expansion trends. Situated along Grand River Avenue, it offers convenient access to I-96 and metro Detroit. This property is suitable as a strategic owner-operator purchase or investor opportunity to reposition into the future. The property offers upside through lease-up of substantial vacancy and strong projected cash-on-cash returns upon stabilization.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Theresa Min- Restorative ... Acupuncture Clinic Doctors Choice Needles Medical Equipment Manufacturer Lindsey Rossman, DO Doctor Dr. Steven J. ... Sports Medicine Physician Jenny Michaels, MD Sports Medicine Physician

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Nail Salon

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

    Similar Places Nearby

    Meadowbrook Veterinary Clinic, Christlieb Morris DVM, AEC

    Location Insight

    • Map
    • Local Demand
    City
    Novi
    County
    Oakland
    State
    Michigan
    Longitude
    -83.4645956
    Latitude
    42.4791303

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    FAQs

    What type of property is this?
    Medical office - Value-add property with long-term tenant in Novi, Michigan.
    Where is this medical office located?
    The property is located at 42350 Grand River Ave Novi, MI.
    What are key features of this property?
    This property features: - Long-term triple-net lease with GR Medical provides stable cash flow.; - Significant leasing upside due to substantial vacancy offers value-add potential.; - Core Novi location with strong local demographics and business expansion.
    (248) 351-6315
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    Novi, MI 48375
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    Realmo Value Estimation

    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.

    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.

    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
    42350 Grand River Ave Novi, MI 48375
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