Two-Story Office
18600 W 10 Mile Rd, Southfield, MI 48075
For Sale
$800,000
Multi-suite office property with kitchens, restrooms, parking, and a finished basement.
Property Size9,520 SF
Price / SF$84.03
Days on Market85
Property Features for 18600 W 10 Mile Rd
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Site & Location
Highway Access
Utilities to Site
Additional Details
Office Units
Building Details
Year Built
Buildings
Stories
Tenancy
Listing Agency:
Keller Williams Somerset
Listed By:
James T Silver · License #6502374648
(248) 417-9617
Source:
Metrodetroithomeguide
Added: Aug 15
Changed: Nov 1
Last Checked: Nov 6 at 8:55AM
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 Keller Williams Somerset
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Investment Insights
Based on property information with market context.
Built in 1967, this 9,520-square-foot office building includes two levels with 24 offices overall. The first floor contains 12 offices, including 5 current tenants and one vacant space; the second floor has 12 offices with 8 current tenants. Both floors provide a kitchen and separate men's and women's restrooms. Utilities are currently paid by the owner.
A finished basement adds a large open area along with 2 bathrooms, an electrical room, air conditioning room, medical records room, and separate storage room. The property includes 33 parking spaces and is located near major roads and freeways at 18600 W 10 Mile Rd in Southfield, Michigan.
A finished basement adds a large open area along with 2 bathrooms, an electrical room, air conditioning room, medical records room, and separate storage room. The property includes 33 parking spaces and is located near major roads and freeways at 18600 W 10 Mile Rd in Southfield, Michigan.
Key Highlights
- 9,520‑square‑foot office building constructed in 1967
- 24 offices across two floors
- First floor includes 12 offices, 5 current tenants, and one vacant space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,773
Cap Rate
4.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$655,460
$655.5K
Cap Rate 7%
$468,186
$468.2K
Cap Rate 9%
$364,144
$364.1K
Market Conditions
NOI Build-Up for 9,520 SF
Gross rent
$57.1K $6.00/SF
− Vacancy
−$13.4K −$1.41/SF
EGI
$43.7K $4.59/SF
− OpEx
−$10.9K −$1.15/SF
NOI
$32.8K $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%
$655,460
Cap Rate 7%
$468,186
Cap Rate 9%
$364,144
Alternative Uses
Best Use
Office B
$468.2K
$409.7K – $546.2K
NOI $32,773 @ 7.0% cap · market cap 4.10%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.05M
$1.80M – $2.40M
NOI $143,737 @ 7.0% cap · market cap 17.97%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
24
Office units
Multi-tenant
Tenancy
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,230
Businesses Nearby
Explore this area
Business Placement
Demographics for 48075, MI
22,967
Population
10,757
Households
2.1
Avg Household Size
42
Median Age
39%
College-Educated
95%
High-School Grad
7.3 sq mi
ZIP Area
3,146
Density / Sq Mi
$67,630
Median Household Income
$43,417
Median Earnings
$1,284
Median Rent
$218,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Office buildings in Southfield, MI
Properties on Market for Office buildings in Southfield
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office building - Multi-suite office property with kitchens, restrooms, parking, and a finished basement.
Where is this office building located?
The property is located at 18600 W 10 Mile Rd Southfield, MI.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: 9,520‑square‑foot office building constructed in 1967; 24 offices across two floors; First floor includes 12 offices, 5 current tenants, and one vacant space
