Southfield Office Building for
For Sale
$449,000
15815 W 12 Mile Rd, Southfield, MI 48076
Two-story office building in Southfield with recent upgrades.
Property Size5,326 SF
Price / SF$84.30
Days on Market155
Property Features for 15815 W 12 Mile Rd
General Information
Standard status
Active
Size
5,326 SF
Total Parking Spaces
20
Property subtype
Office
Zoning
OS
Building Details
Building Size
5,326 SF
Year Built
1969
Year Renovated
1986
Listing Agency:
Friedman Integrated Real Estate
Listed By:
Dan Verderbar
(248) 330-6536
Source:
Friedmanrealestate
Added: May 7
Changed: Sep 25
Last Checked: Oct 7 at 10:46AM
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 Friedman Integrated Real Estate
Investment Insights
Based on property information with market context.
This two-story brick professional office building is located in northeast Southfield, offering close proximity to Berkley and Birmingham. The property features a newly paved 20-car parking lot. Recent upgrades include a newer HVAC replacement and roof. The building is suitable for single or multiple users. The property includes well-maintained grass and landscaping. The building has a size of 5,326 square feet.
Key Highlights
- Newly‑paved 20‑car parking lot available.
- Newer HVAC replacement & Roof.
- Brick Professional Office Building.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,335
Cap Rate
4.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$366,700
$366.7K
Cap Rate 7%
$261,929
$261.9K
Cap Rate 9%
$203,722
$203.7K
Market Conditions
NOI Build-Up for 5,326 SF
Gross rent
$32.0K $6.00/SF
− Vacancy
−$7.5K −$1.41/SF
EGI
$24.4K $4.59/SF
− OpEx
−$6.1K −$1.15/SF
NOI
$18.3K $3.44/SF
Area
Oakland County, MI
Vacancy
23.50%
Lease Rate
$6.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$366,700
Cap Rate 7%
$261,929
Cap Rate 9%
$203,722
Alternative Uses
Best Use
Office B
$261.9K
$229.2K – $305.6K
NOI $18,335 @ 7.0% cap · market cap 4.08%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.15M
$1.01M – $1.34M
NOI $80,414 @ 7.0% cap · market cap 17.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,102
Businesses Nearby
Explore this area
Business Placement
Demographics for 48076, MI
26,062
Population
11,016
Households
2.4
Avg Household Size
44
Median Age
44%
College-Educated
94%
High-School Grad
7.1 sq mi
ZIP Area
3,671
Density / Sq Mi
$85,171
Median Household Income
$50,210
Median Earnings
$1,451
Median Rent
$251,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office building - Two-story office building in Southfield with recent upgrades.
Where is this office building located?
The property is located at 15815 W 12 Mile Rd Southfield, MI.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: Newly‑paved 20‑car parking lot available.; Newer HVAC replacement & Roof.; Brick Professional Office Building.
