Add Listing
    For Lease
    • 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

    24529-24555 W Twelve Mile Rd Southfield, MI

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Prominent retail center with high visibility and strong demographics.

    Property size:
    1,400 SF
    Lot size:
    1.20 Acres

    Property Features for 24529-24555 W Twelve Mile Rd

    General Information

    Size
    1,400 SF
    Lot size
    1.20 Acres

    We can help!

    Listing Contact
    Erik Elwell
    Source: Moodyscre

    Listing Agency: CMP Real Estate Group Listing Agent: Erik Elwell

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

    Learn more

    Overview

    Retail Space in Southfield, MI

    This retail space is located in a prominent retail center in Southfield, MI, joining tenants such as Star Deli, Wing Snob, Visionworks, and A-1 Drycleaners. Situated at a busy intersection with over 96,000 vehicles per day, the location benefits from strong demographics, with over 214,000 residents and an average household income exceeding $109,000 within a five-mile radius. The property is located in a main retail thoroughfare alongside national retailers such as Meijer, Lowe’s, Best Buy, DSW Shoe Warehouse, PetSmart, Michael’s, and Ulta. It features ingress and egress, as well as pylon signage on both 12 Mile and Telegraph Roads. The property provides convenient access to major freeways, including the Lodge (M-10), I-696, and the Southfield Freeway (M-39). The available space is 1400 square feet and suitable for retail purposes.
    Location Intelligence

    Current Use by Public Records

    Shopping centers

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Southfield
    County
    Oakland
    State
    Michigan
    Longitude
    -83.288353
    Latitude
    42.465765

    Nearby Similar for Lease

    • $4,248 /Mo
      6,000 SF

      Southfield Office Space on Telegraph

      6,000 SF upper-level office space on Telegraph Road.
      23455 Telegraph Rd, Southfield, MI 48033
      View Details
    • $2,000 /Mo
      1,000 SF

      Professional Office Suite For Rent

      Turn-key office suite with private offices, reception, and break room.
      26300 Telegraph Rd, Southfield, MI 48033
      View Details
    • $2,200 /Mo
      1,340 SF

      Southfield Retail Space For Lease

      Commercial property in high-traffic location, ideal for business ownership.
      24070 W 10 Mile Rd, Southfield, MI 48033
      View Details
    • $20 SF/Yr
      3,015 SF

      Prime Southfield Road Commercial Space

      3,015 SF commercial space with high visibility and flexible zoning.
      24758 Southfield Rd, Southfield, MI 48075
      View Details
    • $2,500 /Mo
      1,350 SF

      Southfield Retail Space For Rent

      1350 SF retail space with frontage on Telegraph Road.
      26400 Telegraph Rd, Southfield, MI 48033
      View Details
    • $22 SF/Yr
      1,155 SF

      Southfield Office Space For Lease

      Two-story office building with renovated suites and convenient highway access.
      28777 Northwestern Hwy, Southfield, MI 48034
      View Details
    • $20 SF/Yr

      Prime Commercial Space on Southfield Road

      High-visibility commercial space with flexible zoning in Southfield, Michigan.
      24758 Southfield Rd, Southfield, MI 48075
      View Details
    • Sponsored
      Contact for pricing

      Southfield, MI - Onyx Office Plaza

      Discover many ways to work your way in NV, Las Vegas - South Maryland Parkway
      29777 Telegraph Rd, Southfield, MI 29777
      View Details
    • $15,000 /Mo

      Iconic Yamasaki-Designed Commercial Landmark

      Historically significant building designed by Minoru Yamasaki available for lease.
      16200 Northland Dr, Southfield, MI 48075
      View Details
    • $1,400 /Mo
      13,308 SF

      Southfield Commercial Building with Updates

      Updated commercial building suitable for a wide range of businesses.
      25820 Southfield Rd Rd, Southfield, MI 48075
      View Details

    FAQs

    What type of property is this?
    Shopping center - Prominent retail center with high visibility and strong demographics.
    Where is this shopping center located?
    The property is located at 24529-24555 W Twelve Mile Rd Southfield, MI.
    What are key features of this property?
    This property features: - High traffic location: Over 96,000 vehicles per day (VDP) at a busy intersection.; - Strong demographics: Over 214,000 residents with an average household income exceeding $109,000 within a five-mile radius.; - Located in a major retail area: Surrounded by national retailers like Meijer, Lowe’s, and Best Buy.
    (248) 538-2000 Call to check price and availability
    Request Owner's contact information
    24529-24555 W Twelve Mile Rd Southfield, MI
    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.
    24529-24555 W Twelve Mile Rd
    Southfield, MI
    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
    24529-24555 W Twelve Mile Rd Southfield, MI
    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!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Erik Elwell
    (248) 538-2000 (248) 885-7644
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!