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

    23227 Commerce Dr Farmington Hills, MI 48335

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $6,250,000

    Specialty property available for sale in Farmington Hills, Michigan.

    Type:Industrial
    Added:
    Apr 1, 2026
    Days on Market:
    22
    Last Refresh:
    Apr 1 at 11:50 am

    Property Features for 23227 Commerce Dr

    General Information

    Standard status
    Active
    Property subtype
    Industrial

    Building Details

    Year Built
    1998

    We can help!

    Listing Contact
    Jeff Lemanski

    Listing agent Jeff Lemanski

    Listing office

    Listing date Apr 1, 2026

    Source Tcnworldwide

    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 Jeff Lemanski

    Overview

    Commerce Drive Specialty Property

    A specialty property is available for sale. The property is located on Commerce Drive in Farmington Hills, Michigan. The list price is $6,250,000.
    Location Intelligence

    Current Use by Public Records

    Specialty properties

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Farmington Hills
    County
    Oakland
    State
    Michigan
    Longitude
    -83.4268541
    Latitude
    42.4579283

    Nearby Similar for Sale

    • $399,000
      5,667 SF

      Farmington Hills Commercial Real Estate

      Commercial real estate in high-traffic Farmington Hills area.
      30544 GRAND RIVER Avenue, Farmington Hills, MI 48336
      View Details
    • $1,250,000
      7,000 SF

      Farmington Hills Office Building Investment

      Turnkey three-unit office building on Orchard Lake Road.
      30000 ORCHARD LAKE Road, Farmington Hills, MI 48334
      View Details
    • $595,000
      2,400 SF

      Farmington Hills Retail Space Available

      Retail space in Farmington Hills with high traffic exposure.
      31799 Middlebelt Road, Farmington Hills, MI 48334
      View Details
    • $760,000
      6,555 SF

      Farmington Hills Multi-Family Investment

      Fully occupied 6-unit apartment building in Farmington Hills.
      21304 Ontaga Street, Farmington Hills, MI 48336
      View Details
    • $19
      13,464 SF

      Medical/Dental Office Building For Sale

      Multi-tenant medical office building with suites available, on-site management.
      30335 W 13 Mile Rd, Farmington Hills, MI 48334
      View Details
    • $324,999
      2,655 SF

      Office/Medical Condo For Sale

      2,655 SF office/medical condo in desirable Farmington Hills location.
      30640 W 12 Mile Rd, Farmington Hills, MI 48334
      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 Avenue, Farmington Hills, MI 48336
      View Details
    • $595,000
      2,400 SF

      Farmington Hills Retail/Office Space

      Retail/office space with high traffic and updated parking.
      31799 Middlebelt Road, Farmington Hills, MI 48334
      View Details
    • $12
      11,612 SF

      Well-Maintained Office Building For Sale

      One-story office building with suites available, near I-696.
      27950 Orchard Lake Rd, Farmington Hills, MI 48334
      View Details
    • $15
      11,208 SF

      Well-Maintained Office Building For Sale

      Single-story office building with move-in ready suites and I-696 access.
      Farmington Hills, MI 48334
      View Details
    • $3,615,000
      5,723 SF

      Showroom and Office Space

      Well-located building with showroom and office space available for sale.
      24404 Indoplex Cir, Farmington Hills, MI 48335
      View Details
    • $17
      60,200 SF

      Professional Office Building For Sale

      Two-story office building with suites available in Farmington Hills, MI.
      31275 Northwestern Hwy, Farmington Hills, MI 48334
      View Details

    FAQs

    What type of property is this?
    Specialty property - Specialty property available for sale in Farmington Hills, Michigan.
    Where is this specialty property located?
    The property is located at 23227 Commerce Dr Farmington Hills, MI.
    What is the asking price?
    The asking price for this property is $6,250,000.
    What are key features of this property?
    This property features: Specialty property; Located in Farmington Hills, Michigan; Year Built: 1998
    (248) 635-7200
    We can help!
    Listing Contact
    Jeff Lemanski
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!