Add Listing
    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

    5600 New King Dr Troy, MI 48098

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

    Office building with renovations underway, suitable for office or medical use.

    Building Details

    Year built
    1986

    We can help!

    Listing Contact
    Mason L. Capitani, Sior
    Source: Corfac

    Listing Agent: Mason L. Capitani, Sior

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

    Learn more

    Property Insight Report

    Overview

    Renovated Office Building For Sale

    This office building, totaling 73,000 square feet, is under new ownership and management and is undergoing extensive renovations. Up to 6,475 square feet of space is available. The property features a building conference center, an exterior plaza with outdoor seating, and micro-market food service. Prominent signage opportunities are available. The property is suitable for office or medical uses and is located near Crooks Road and I-75.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Sakis & Sakis, PLC Law Firm Waterford Bank, N.A. Bank MiTown Realty Real Estate Agency MiState Property Management Property Management Company Dr. Michael A. Sandler, ... Physician

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Troy
    County
    Oakland
    State
    Michigan
    Longitude
    -83.1703205
    Latitude
    42.600653

    Nearby Similar for Sale

    • $495,000
      1,937 SF

      Renovated Office Building in Troy

      Meticulously renovated office building with prime location and luxury finishes.
      305 E Maple Rd, Troy, MI 48083
      View Details
    • $2,400,000
      4,600 SF

      Landscaping Business and Real Estate

      Established landscaping business with real estate for sale in Troy.
      123 Crooks Rd, Troy, MI 48098
      View Details
    • $6,100,000

      Manufacturing Warehouse Near I-75 Freeway

      Spacious 53,000 sq ft manufacturing warehouse in Troy, Michigan.
      1410 Allen Dr, Troy, MI 48083
      View Details
    • Contact for pricing

      Professional Office Building For Sale

      Professional office building for sale with conversion potential.
      1869 E Maple Rd, Troy, MI 48083
      View Details
    • Contact for pricing

      Class A Office Building For Sale

      Full-service office building with on-site amenities and convenient location.
      901 Wilshire Dr, Troy, MI 48084
      View Details
    • Contact for pricing

      Single Story Office Building Available

      Single-story office building with private entry suites, conveniently located near I-75.
      2265 Livernois Rd, Troy, MI 48083
      View Details
    • Contact for pricing

      Renovated Office Building Near I-75

      Two-story office building with recent renovations and basement storage.
      2950 W Square Lake Rd, Troy, MI 48098
      View Details
    • Contact for pricing

      Move-In Ready Office Suites

      Office suites in move-in condition with shared amenities.
      575 E Big Beaver Rd, Troy, MI 48083
      View Details
    • Contact for pricing

      Class A Office Building

      Class A office building with covered parking and signage.
      1111 W Long Lake Rd, Troy, MI 48098
      View Details
    • Contact for pricing

      Upgraded Office Spaces Near I-75

      Move-in ready office spaces with main road signage and convenient parking.
      650 E Big Beaver Rd, Troy, MI 48083
      View Details
    • Contact for pricing

      Prime Troy Office Building

      Office suites for lease in a well-located, classic building.
      1621-1663 W Big Beaver Rd, Troy, MI 48084
      View Details
    • Contact for pricing

      Office Property on Rochester Road

      Office suites with direct entry, landscaping, and convenient parking.
      4893-4897 Rochester Rd, Troy, MI 48085
      View Details

    FAQs

    What type of property is this?
    Office building - Office building with renovations underway, suitable for office or medical use.
    Where is this office building located?
    The property is located at 5600 New King Dr Troy, MI.
    What is the asking price?
    The asking price for this property is $18.
    What are key features of this property?
    This property features: - Up to 6,475 SF Available, offering significant space.; - Building Under New Ownership & Management.; - Extensive Renovations Under Way, promising a modern workspace.
    (248) 212-7795
    Request Owner's contact information
    5600 New King Dr Troy, MI 48098
    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.
    5600 New King Dr
    Troy, MI 48098
    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
    5600 New King Dr Troy, MI 48098
    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
    Mason L. Capitani, Sior
    (248) 212-7795
    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!