Two-Story Professional Office
New
For Sale
$799,999
17000 W 12 Mile Rd, Southfield, MI 48076
Functional commercial building with monument signage, on-site parking, and access to major area routes.
Property Size8,400 SF
Price / SF$95.24
Days on Market3
Property Features for 17000 W 12 Mile Rd
General Information
Standard status
Active
Size
8,400 SF
Class
C
Property subtype
Office
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Building Size
8,400 SF
Year Built
1969
Buildings
1
Stories
2
Listing Agency:
L. Mason Capitani, Inc.
(586) 907-7155
Listed By:
Robert Gojcaj · License #6501377415
(586) 907-7155
Source:
Corfac
Added: Aug 9
Changed: Aug 10
Last Checked: Aug 11 at 6:28AM
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 L. Mason Capitani, Inc.
Investment Insights
Based on property information with market context.
This two-story professional office building contains 8,400 square feet and was built in 1969. The layout supports professional office, medical, and administrative functions, with monument signage and on-site parking serving the property. Its configuration is suitable for an owner-user or investor seeking an established office asset.
The building fronts Twelve Mile Road in Southfield, providing exposure along a major local corridor. Access to I-696, Telegraph Road, and Northwestern Highway connects the property with surrounding commercial areas and regional transportation routes.
The building fronts Twelve Mile Road in Southfield, providing exposure along a major local corridor. Access to I-696, Telegraph Road, and Northwestern Highway connects the property with surrounding commercial areas and regional transportation routes.
Key Highlights
- 8,400‑square‑foot professional office building
- Two‑story layout suitable for office, medical, or administrative use
- Built in 1969
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$28,917
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.61%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$578,340
$578.3K
Cap Rate 7%
$413,100
$413.1K
Cap Rate 9%
$321,300
$321.3K
Market Conditions
NOI Build-Up for 8,400 SF
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.
Gross rent
$50.4K $6.00/SF
− Vacancy
−$11.8K −$1.41/SF
EGI
$38.6K $4.59/SF
− OpEx
−$9.6K −$1.15/SF
NOI
$28.9K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$578,340
Cap Rate 7%
$413,100
Cap Rate 9%
$321,300
Alternative Uses
Best Use
Healthcare Medical
$1.62M
$1.42M – $1.89M
NOI $113,672 @ 7.0% cap · market cap 14.21%
Second Best
Office B
$413.1K
$361.5K – $482.0K
NOI $28,917 @ 7.0% cap · market cap 3.61%
Theoretical Best
Specialty Retail
$1.81M
$1.59M – $2.11M
NOI $126,827 @ 7.0% cap · market cap 15.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
977
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
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Functional commercial building with monument signage, on-site parking, and access to major area routes.
Where is this office building located?
The property is located at 17000 W 12 Mile Rd Southfield, MI.
What is the asking price?
The asking price for this property is $799,999.
What are key features of this property?
This property features: 8,400‑square‑foot professional office building; Two‑story layout suitable for office, medical, or administrative use; Built in 1969
