Three-Story Office
14500 W 8 Mile Road Oak Park, MI 48237
14500 W 8 Mile Road, Oak Park, MI, 48237
$1,090,000
For Sale
$1,090,000
Three-story office building with an elevator and parking lot for about 150 cars.
Property Size24,188 SF
Price / SF$45.06
Days on Market405
Property Features for 14500 W 8 Mile Road
General Information
- Standard status
- Active
- Size
- 24,188 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1966
Listing agency
UBTEO
(313) 930-5550
Listed by
Ali M Farhat · License #6500128759
(313) 930-5550
Source
Sabudarealty
Added: Jun 13, 2025 Updated: Jul 21 at 2:24AM Checked: Jul 21 at 2:24AM
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 UBTEO
Investment Insights
Based on property information with market context.
This three-story office building offers more than 25 office spaces and elevator service for convenient tenant access. The property totals over 24,000 square feet and is described as having lots of updates. On-site parking includes a parking lot for about 150 cars.
The building is positioned with about 100 feet of frontage on 8 Mile Road in Oak Park, providing visibility for office users and visitors.
With multiple floors and a substantial suite count, the building is set up for organizations seeking flexible office configurations within a single structure.
The building is positioned with about 100 feet of frontage on 8 Mile Road in Oak Park, providing visibility for office users and visitors.
With multiple floors and a substantial suite count, the building is set up for organizations seeking flexible office configurations within a single structure.
Key Highlights
- Three‑story office building built in 1966 with elevator service
- More than 25 office spaces and over 24,000 SF
- About 100 feet of frontage on 8 Mile in Oak Park
Local 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 | $145.1k | $6.00 |
| − Vacancy | −$34.1k | −$1.41 |
| EGI | $111.0k | $4.59 |
| − OpEx | −$27.8k | −$1.15 |
| NOI | $83.3k | $3.44 |
24,188 SF · lease $6.00/SF/yr · vacancy 23.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.19M
$1.04M – $1.39M
NOI $83,267 @ 7.0% cap · market cap 7.64%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.22M
$4.57M – $6.09M
NOI $365,200 @ 7.0% cap · market cap 33.50%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Office buildings
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FAQs
What type of property is this?
Office building - Three-story office building with an elevator and parking lot for about 150 cars.
Where is this office building located?
The property is located at 14500 W 8 Mile Road Oak Park, MI.
What is the asking price?
The asking price for this property is $1,090,000.
What are key features of this property?
This property features: Three‑story office building built in 1966 with elevator service; More than 25 office spaces and over 24,000 SF; About 100 feet of frontage on 8 Mile in Oak Park
