Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Farmington Hills Flex/Industrial Space Title is generated by Realmo AI

    24387 Halsted Road, Farmington Hills, MI 48335

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Flex/Industrial space available for lease in Farmington Hills, MI.

    Type:FlexIndustrial
    Property size:
    12,272 SF
    Added:
    Nov 22, 2025
    Days on Market:
    181
    Last Refresh:
    May 19 at 8:51 pm

    Property Features for 24387 Halsted Road

    General Information

    Standard status
    Active
    Size
    12,272 SF
    Property subtype
    FlexIndustrial

    Spaces For Lease

    at 24387 Halsted Road Contact us

    We can help!

    Listing Contact
    Philip Sprague

    Listing agent Philip Sprague

    Listing office CBRE | Detroit

    Listing date Nov 22, 2025

    Source Cbre

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

    All listing content including descriptions, pricing, images are the copyrighted material of CBRE | Detroit

    HighLights

    • Flex/industrial space available
    • Located in Farmington Hills, MI

    Overview

    This property offers 12,272 square feet of flex and industrial space. Located in Farmington Hills, Michigan, the property is suitable for a variety of business operations requiring adaptable space.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

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

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

    Similar Places Nearby

    • Chrissy Catering — 37260 Eisenhower Ct, Farmington, MI 48335

    Location Insight

    • Map
    • Local Demand
    City
    Farmington Hills
    County
    Oakland
    State
    Michigan
    Longitude
    -83.41714
    Latitude
    42.4715665

    Nearby Similar for Lease

    • $5,900/Mo
      7,000 SF

      Turnkey Urgent Care Office Building

      Newly renovated medical space with income-generating units in Farmington Hills.
      30000 ORCHARD LAKE Road, Farmington Hills, MI 48334
      View Details
    • $15 SF/Yr
      30,582 SF

      Farmington Hills Industrial/Retail Space

      Centrally located industrial/retail space with high ceilings and roll-up doors.
      32210 W 8 Mile Road, Farmington Hills, MI 48336
      View Details
    • $80 SF/Yr
      10,000 SF

      Farmington Hills Professional Office Building

      Professional office building in Farmington Hills with flexible spaces.
      22710 Haggerty Rd, Farmington Hills, MI 48335
      View Details
    • $2,500/Mo
      2,400 SF

      Versatile Commercial Space, Farmington Hills

      Adaptable commercial space suitable for office, retail, or recreation.
      29920-29912 ORCHARD LAKE Road, Farmington Hills, MI 48334
      View Details
    • $2,500/Mo
      1,800 SF

      Versatile Retail/Office Space Available

      Centrally located suites suitable for office, retail, or recreation.
      29920-29912 ORCHARD LAKE Rd, Farmington Hills, MI 48334
      View Details
    • $1,100/Mo
      1,100 SF

      Professional Office Space For Rent

      Three-room office space available in a well-maintained building.
      21999 Farmington Rd 300, Farmington Hills, MI 48336
      View Details
    • $15 SF/Yr
      8,000 SF

      High-Image Building with Ample Parking

      Corporate quality flex space with generous parking and high visibility.
      33737 W. 12 Mile Rd, Farmington Hills, MI 48331
      View Details
    • $25 SF/Yr
      2,200 SF

      Medical Office Space Available

      Medical office space available for lease in Farmington Hills.
      22750 Middlebelt Road, Farmington Hills, Michigan 48334
      View Details
    • $22 SF/Yr
      36,661 SF

      Former Dealership in Farmington Hills

      Former Farmington Hills Toyota Dealership with great freeway access.
      35200 Grand River Ave, Farmington Hills, MI 48335
      View Details
    • $10 SF/Yr
      3,760 SF

      Upgraded Office Suite For Lease

      3,760 SF office suite with high-end finishes available for lease.
      31355 13 Mile Road, Farmington Hills, MI 48334
      View Details
    • $18 SF/Yr
      16,218 SF

      Orchard Lake Road Medical/Office Building

      Two-story medical/office building with excellent visibility and ample parking.
      23900 Orchard Lake Road, Farmington Hills, MI 48336
      View Details
    • $17 SF/Yr
      93,779 SF

      Farmington Hills Premium Office Space

      High-profile office building with recent renovations and convenient highway access.
      31700 Middlebelt, Farmington Hills, MI 48334
      View Details

    FAQs

    What type of property is this?
    Flex space - Flex/Industrial space available for lease in Farmington Hills, MI.
    Where is this flex space located?
    The property is located at 24387 Halsted Road Farmington Hills, MI.
    What are key features of this property?
    This property features: Flex/industrial space available; Located in Farmington Hills, MI
    (248) 351-2032
    We can help!
    Listing Contact
    Philip Sprague
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    24387 Halsted Road, Farmington Hills, MI, 48335
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!