Southfield Office Building For
24700 West Eleven Mile Road Southfield, MI 48034
For Sale
$625,000
Well-maintained office building with recent upgrades and easy freeway access.
Property Size15,580 SF
Price / SF$40.12
Days on Market125
Property Features for 24700 West Eleven Mile Road
General Information
Standard status
Active
Size
15,580 SF
Property subtype
Office
Listing Agency:
CBRE | Detroit
(248) 351-2039
Listed By:
Brendan George · License #6502401928
(248) 351-2039
Source:
Cbre
Added: Mar 25
Changed: Jul 10
Last Checked: Jul 27 at 7:40AM
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
Investment Insights
Based on property information with market context.
This well-maintained office building is ideally located with easy freeway access. Recent interior upgrades have been completed. The property is suitable for an owner-occupant. The zoning is designated for educational research. The property size is 15580 square feet.
Key Highlights
- Ideal for owner‑occupant
- Educational Research Office Zoning
- Ideally located with easy freeway access
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $93.5k | $6.00 |
| − Vacancy | −$22.0k | −$1.41 |
| EGI | $71.5k | $4.59 |
| − OpEx | −$17.9k | −$1.15 |
| NOI | $53.6k | $3.44 |
15,580 SF · lease $6.00/SF/yr · vacancy 23.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$766.2K
$670.4K – $893.9K
NOI $53,634 @ 7.0% cap · market cap 8.58%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.36M
$2.94M – $3.92M
NOI $235,233 @ 7.0% cap · market cap 37.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office building - Well-maintained office building with recent upgrades and easy freeway access.
Where is this office building located?
The property is located at 24700 West Eleven Mile Road Southfield, MI.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Ideal for owner‑occupant; Educational Research Office Zoning; Ideally located with easy freeway access
