Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    31666 W 8 Mile Rd Farmington Hills, MI 48336

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $2,300,000

    Two buildings on 2.75 acres ideal for manufacturing.

    Property size:
    28,147 SF
    Lot size:
    2.76 Acres

    Property Features for 31666 W 8 Mile Rd

    General Information

    Size
    28,147 SF
    Lot size
    2.76 Acres

    We can help!

    Listing Contact
    James Iodice
    James Iodice
    Source: Moodyscre

    Listing Agent: James Iodice

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

    Learn more

    Property Insight Report

    Overview

    Manufacturing Property with Modern Amenities

    This property features two buildings situated on a fully fenced 2.75-acre lot. The main building provides approximately 22,460 square feet of space, including 3,000 square feet of office space and 15,000 square feet of floor space with ceiling heights reaching up to 24 feet. The main building is fully air-conditioned and includes an additional 1,500 square feet of lab space and a 3,000 square foot second-floor office and break room. Access is facilitated by 3 grade-level doors and 1 loading dock. The secondary building offers approximately 5,687 square feet of space with 4 grade-level doors. The lot has been recently resurfaced and re-striped, and the main building has been freshly repainted with new epoxy floors. This property is suitable for manufacturing needs.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Manufacturing properties

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Farmington Hills
    County
    Oakland
    State
    Michigan
    Longitude
    -83.360429
    Latitude
    42.441676

    Nearby Similar for Sale

    • $700,000
      2,675 SF

      Custom Colonial Farmhouse on Large Lot

      2020 custom-built colonial on a large, private, fenced lot.
      31701 Hull Ave, Farmington Hills, MI 48336
      View Details
    • $99,000
      972 SF

      Farmington Hills Medical Office Space

      Office condominium for sale in Farmington Hills, suitable for medical use.
      32905 W 12 Mile Rd W, Farmington Hills, MI 48334
      View Details
    • $370,000
      6,400 SF

      Remodeled Market in Oakland County

      Turnkey international market business opportunity in Farmington Hills, Michigan.
      000 Farmington Hl, Farmington Hills, MI 48334
      View Details
    • $399,000
      5,667 SF

      Farmington Hills Commercial Real Estate

      Commercial real estate and equipment for sale in Farmington Hills.
      30544 Grand River Ave, Farmington Hills, MI 48336
      View Details
    • $379,900
      2,942 SF

      Farmington Hills Four-Unit Building

      All-brick four-unit building in a residential area, close to amenities.
      30812 Fink Ave, Farmington Hills, MI 48336
      View Details
    • $500,000
      5,416 SF

      Farmington Hills Commercial Property For Sale

      Commercial property in Farmington Hills, Michigan, totaling 5,416 square feet.
      28728 Grand River Ave, Farmington Hills, MI 48336
      View Details
    • $600,000
      480 SF

      Farmington Hills Mobile Home Park

      22-unit mobile home park in a desirable, well-connected area.
      28730 Grand River Ave, Farmington Hills, MI 48336
      View Details
    • $399,000

      Move-in Ready Office Building

      Office building in high traffic area with convenient highway access.
      29375 W 10 Mile Rd, Farmington Hills, MI 48336
      View Details
    • $349,900
      2,057 SF

      Farmington Hills Condo Near Golf

      Three-bedroom condo with finished basement and golf course proximity.
      38360 Churchill Ln, Farmington Hills, MI 48331
      View Details
    • $169,900
      998 SF

      End Unit Condo in Farmington

      Condo with open concept, new carpet, and community amenities.
      22296 Cape Cod Way, Farmington Hills, MI 48336
      View Details
    • $3,500,000

      Renovated Restaurant Building For Sale

      Freestanding, renovated restaurant building with tenant in Farmington Hills, MI.
      31519 W 12 Mile Rd, Farmington Hills, MI 48334
      View Details
    • $1,300,000

      Auto Dealer Opportunity in Farmington

      Prime location with renovated facility and ample parking.
      28975 Grand River Ave, Farmington Hills, MI 48336
      View Details

    FAQs

    What type of property is this?
    Manufacturing property - Two buildings on 2.75 acres ideal for manufacturing.
    Where is this manufacturing property located?
    The property is located at 31666 W 8 Mile Rd Farmington Hills, 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: - Main building boasts **22,460 sq. ft.** including 3,000 sq. ft. of office space.; - Enjoy a **fully air-conditioned** main building featuring new epoxy floors and fresh paint.; - 2.75-acre fully fenced lot, recently resurfaced and re-striped.
    (248) 225-7180
    Request Owner's contact information
    31666 W 8 Mile Rd Farmington Hills, MI 48336
    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.
    31666 W 8 Mile Rd
    Farmington Hills, MI 48336
    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
    31666 W 8 Mile Rd Farmington Hills, MI 48336
    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

    We can help!
    Listing Contact
    James Iodice
    James Iodice
    (248) 225-7180
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.