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    Multi-Suite Office Building with Parking Title is generated by Realmo AI

    339 N Center St, Northville, MI 48167

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    New
    For Sale
    $895,000

    Seven office suites with shared amenities and ample parking, supported by recent mechanical and interior updates.

    Type:Commercial
    Added:
    Jun 3, 2026
    Days on Market:
    6
    Last Refresh:
    Jun 6 at 2:18 am

    Property Features for 339 N Center St

    General Information

    Standard status
    Active
    Property subtype
    Commercial

    Building Details

    Year Built
    1928

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    Listing Contact
    Carol Lee
    Carol Lee

    Listing agent Carol Lee

    Listing office

    Listing date Jun 3, 2026

    Source Elliman

    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 Carol Lee

    HighLights

    • Downtown Northville commercial building (built 1928) with 7 separate office suites and a lobby on both levels
    • Shared kitchenettes with two restrooms and additional bathrooms throughout (4 total bathrooms)
    • Recent mechanical updates include updated furnace plus air and H2O tank in summer 2024
    • Building improvements include chimney tuckpointing and a new roof scheduled for June 2026
    • Updates include new exterior paint (2025), updated windows, and updated interior flooring, paint, and bathrooms
    • Ample on‑site parking and located next to Kroger (not in the DDA)

    Overview

    This multi-unit office building is presented as a move-in ready, turnkey setup for professional users, with seven separate office suites designed to work independently while sharing common support areas. The building is described as beautifully decorated throughout and mechanically sound, including an updated furnace, air conditioning, and H2O tank installed in summer 2024. Additional exterior work is underway or planned, with chimney tuckpointing completed and a new roof scheduled for June 2026, plus exterior paint in 2025. Interior improvements include updated windows, flooring, paint, and bathrooms. The configuration also includes shared kitchenette areas, two restrooms and a lobby on both levels, for four total bathrooms, along with notable natural light.

    The property is located in downtown Northville, positioned next to Kroger. The surrounding area is noted as car-dependent, with a bikeScore of 48 and walkScore of 13, aligning with a drive-in, parking-oriented tenant and visitor experience.

    For tenants or owners seeking an office environment with multiple private suites and shared lobbies and restrooms, this layout can support small businesses under one roof while maintaining an organized common flow. For buyers, the combination of multiple suites, recent upgrades to key building systems, and ongoing exterior improvements may help reduce near-term capital concerns, and the seller is agent-owned and may consider a land contract. Appointment-only showings with the listing agent.
    Location Intelligence

    Current Use by Public Records

    Jack's Wall Repair ... Hardware & Home Improvement Marker Metal Co Auto Parts Store Northville Website Design Marketing & Advertising Website For Free Marketing & Advertising Dermartistry Aesthetics Spa & Massage Center

    Suggested Use

    Law Firm Restaurant Real Estate Agency 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
    Northville
    County
    Wayne
    State
    Michigan
    Longitude
    -83.4836351
    Latitude
    42.4343355

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    FAQs

    What type of property is this?
    Office units - Seven office suites with shared amenities and ample parking, supported by recent mechanical and interior updates.
    Where is this office units located?
    The property is located at 339 N Center St Northville, MI.
    What is the asking price?
    The asking price for this property is $895,000.
    What are key features of this property?
    This property features: Downtown Northville commercial building (built 1928) with 7 separate office suites and a lobby on both levels; Shared kitchenettes with two restrooms and additional bathrooms throughout (4 total bathrooms); Recent mechanical updates include updated furnace plus air and H2O tank in summer 2024
    (248) 596-1200
    We can help!
    Listing Contact
    Carol Lee
    Carol Lee
    Learn More
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    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
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