Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Office Space for Lease Title is generated by Realmo AI

    31205 Woodward Ave, Royal Oak, MI 48073

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

    Office space available for lease in Royal Oak, Michigan.

    Type:Office
    Added:
    Feb 2, 2024
    Days on Market:
    840
    Last Refresh:
    Mar 17 at 1:20 pm

    Property Features for 31205 Woodward Ave

    General Information

    Standard status
    Active
    Property subtype
    Office

    Building Details

    Year Built
    1969

    Spaces For Lease

    at 31205 Woodward Ave Contact us

    We can help!

    Listing Contact
    Randall Book
    Randall Book

    Listing agent Randall Book License #MI 6501241717

    Listing office Colliers - Royal Oak/Detroit, Michigan

    Listing date Feb 2, 2024

    Source Crexi

    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 Colliers - Royal Oak/Detroit, Michigan

    HighLights

    • For Lease
    • Year Built: 1969

    Overview

    This commercial real estate property, identified as an office space, is available for lease. Located at 31205 Woodward Ave in Royal Oak, Michigan, the property is suitable for office use.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office Spaces

    Suggested Use

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

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

    Similar Places Nearby

    • uBreakiFix - Phone and Computer Repair — 30274 Woodward Ave, Royal Oak, MI 48073
    • Change Dynamix, Inc. — 4327 Delemere Ct, Royal Oak, MI 48073
    • Vigilance — 4327 Delemere Ct, Royal Oak, MI 48073
    • YouBreakIFix — 30274 Woodward Ave, Royal Oak, MI 48073

    Location Insight

    • Map
    • Local Demand
    City
    Royal Oak
    County
    Oakland
    State
    Michigan
    Longitude
    -83.1888566
    Latitude
    42.5199378

    Nearby Similar for Lease

    • $3,000/Mo
      1,853 SF

      Royal Oak Flex Space Available

      Renovated flex building with office, workshop, and garage door.
      1219 E 11 Mile Road, Royal Oak, MI 48067
      View Details
    • $2,700/Mo
      1,220 SF

      Downtown Royal Oak Office Space

      Classy 1220 SF office in the heart of Royal Oak.
      417 E 4th Street, Royal Oak, MI 48067
      View Details
    • $5,282/Mo
      4,244 SF

      Royal Oak Commercial Sublease Opportunity

      Prime commercial space in downtown Royal Oak, suitable for various businesses.
      404 E 4th Street, Royal Oak, MI 48067
      View Details
    • $9,277/Mo
      4,123 SF

      Royal Oak Commercial Space Available

      Prime commercial space in Royal Oak's Social District.
      423 S Washington Avenue, Royal Oak, MI 48067
      View Details
    • Sponsored
      $129-$4,478/Mo
      11-1,292 SF

      MI, Royal Oak - Main Street

      418 Main St, Unit 1ST, Royal Oak, MI 48067
      View Details
    • $2,950/Mo
      1,094 SF

      Remodeled Office Building in Royal Oak

      Freestanding, remodeled office building with finished basement in downtown Royal Oak.
      909 N MAIN St, Royal Oak, MI 48067
      View Details
    • $32,356 SF/Yr
      55,463 SF

      Royal Oak Industrial Warehouse Space

      55,467 SF industrial warehouse with multiple bays and docks.
      2020 Bellaire Avenue, Royal Oak, MI 48067
      View Details
    • $3,000/Mo
      1,853 SF

      Renovated Royal Oak Flex Building

      1853 SF renovated building with office, workshop, and garage.
      1219 E 11 Mile Rd, Royal Oak, MI 48067
      View Details
    • $2,500/Mo

      Downtown Royal Oak Commercial Space

      Renovated commercial space in downtown Royal Oak with private parking.
      1103 S Washington Ave, Royal Oak, MI 48067
      View Details
    • $2,979/Mo
      2,979 SF

      Downtown Royal Oak Office Space

      2,979 SF office space in downtown Royal Oak.
      209 W 6th St, Royal Oak, MI 48067
      View Details
    • $16 SF/Yr
      1,200 SF

      Royal Oak Retail Space Available

      1,200 SF retail space in Royal Oak neighborhood.
      3202 Crooks Rd, Royal Oak, MI 48073
      View Details
    • $32,356 SF/Yr
      55,467 SF

      Industrial Warehouse with Executive Office

      55,467 SF warehouse with office space and multiple docks.
      2020 Bellaire Ave, Royal Oak, MI 48067
      View Details

    FAQs

    What type of property is this?
    Office space - Office space available for lease in Royal Oak, Michigan.
    Where is this office space located?
    The property is located at 31205 Woodward Ave Royal Oak, MI.
    What are key features of this property?
    This property features: For Lease; Year Built: 1969
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Randall Book
    Randall Book
    Real Estate License ID: MI 6501241717
    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
    31205 Woodward Ave, Royal Oak, MI 48073
    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!