Add Listing
    For Sale
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    27175 27275 Haggerty Road Novi, MI

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

    Class A flex/R&D park in Novi, Michigan for sale.

    Type:OFFICE
    Property size:
    176,160 SF
    Lot size:
    14.90 Acres
    Added:
    Oct 2, 2023
    Days on Market:
    943
    Last Refresh:
    Apr 5 at 10:04 pm

    Property Features for 27175 27275 Haggerty Road

    General Information

    Standard status
    Active
    Size
    176,160 SF
    Lot size
    14.90 Acres
    Property subtype
    OFFICE

    We can help!

    Listing Contact
    Todd Hawley
    Todd Hawley

    Listing agent Todd Hawley

    Listing office Friedman Integrated Real Estate - Corporate

    Listing date Oct 2, 2023

    Source Moodyscre

    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 Friedman Integrated Real Estate - Corporate

    Overview

    Multi-Tenant Flex/R&D Park Investment

    This multi-tenant Flex/R&D park investment opportunity features two one-story buildings. Building NRP I encompasses approximately 88,869 square feet, while NRP II offers approximately 83,547 square feet, totaling approximately 180,000 square feet. The property is 92% occupied and stabilized with long-term triple-net leases. The current tenancy includes several publicly traded corporations. Occupancy has remained at or above 90% for the previous 10 years. Available spaces are in move-in condition, providing an opportunity for significant upside. The property benefits from exceptional visibility, frontage, and setting. It is located in the affluent community of Novi, Michigan, with a strategic location offering convenient access to the local and regional expressway systems, including M-5, I-696, I-275, and I-96.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Mobile Industrial Robots ... Factory Quest Diagnostics Health ... Medical Laboratory

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Novi
    County
    Oakland
    State
    Michigan
    Longitude
    -83.4374
    Latitude
    42.4925

    Nearby Similar for Sale

    • $85,000
      21,642 SF

      Turn Key Deli Opportunity

      Deli on Grand River Avenue with high visibility and traffic.
      39915 Grand River Avenue, Novi, MI 48375
      View Details
    • $199,000
      2,231 SF

      Turn-Key Business Opportunity in Novi

      Remodeled turn-key space suitable for coffee, tea, or restaurant.
      25875 Novi Road, Novi, MI 48375
      View Details
    • $3,150,000
      21,261 SF

      Industrial Buildings on 7.61 Acres

      Two industrial buildings totaling 26,861 SF on 7.61 acres.
      45237 Grand River Avenue, Novi, MI 48375
      View Details
    • Contact for pricing
      25,833 SF

      Novi District Courthouse Investment Opportunity

      Single-tenant, net-leased district courthouse occupied by Oakland County, Michigan.
      48150 Grand River Avenue, Novi, MI 48374
      View Details
    • $3,230,000

      Well-Maintained Manufacturing and HQ Facility

      Manufacturing and headquarters facility with cranes and heavy power.
      22750 Heslip Dr, Novi, MI 48375
      View Details
    • $199,900
      4,956 SF

      Established Restaurant Business Opportunity

      Thriving Middle Eastern restaurant for sale in Novi's bustling plaza.
      41490 GRAND RIVER Avenue, Novi, MI 48375
      View Details
    • $35,000
      1,800 SF

      Established Pet Salon in Novi

      Fully equipped pet salon ready for immediate operation in Novi.
      333 Oakland, Novi, MI 48377
      View Details
    • Contact for pricing
      30,884 SF

      Partially Built Medical Office Building

      30,000+ SF medical office, faster market entry.
      24301 Karim Blvd, Novi, MI 48375
      View Details
    • Contact for pricing
      37,725 SF

      Novi Flex Space Opportunity

      Flex space for sale, lease, or build-to-suit near I-96/696.
      27629 Haggerty Rd, Novi, MI 48377
      View Details
    • $1,350,000
      18,370 SF

      Single Story Office/Medical Building

      18,370 SF office/medical building, west of Haggerty Road.
      24245 Karim Blvd, Novi, MI 48375
      View Details
    • $5,836,000
      25,833 SF

      Novi Courthouse Investment Opportunity

      Single-tenant, net-leased district courthouse occupied by Oakland County, Michigan.
      48150 Grand River Ave, Novi, MI 48374
      View Details
    • $2,200,000
      11,050 SF

      Well-Maintained Building on Grand River

      Extremely well-maintained building with frontage on Grand River Avenue.
      40350 Grand River Avenue, Novi, MI 48375
      View Details

    FAQs

    What type of property is this?
    Flex space - Class A flex/R&D park in Novi, Michigan for sale.
    Where is this flex space located?
    The property is located at 27175 27275 Haggerty Road Novi, MI.
    What are key features of this property?
    This property features: Stabilized 180,000 SF Class A Flex/R&D park investment opportunity.; 92% occupied with long‑term triple‑net leases.; Located in Novi, Michigan, with exceptional visibility and access to major expressways (M‑5, I‑696, I‑275, I‑96).
    (248) 324-2000 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Todd Hawley
    Todd Hawley
    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

    27175 27275 Haggerty Road, Novi, MI

    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!