Two-Story Office
For Sale
$400,000
18610 W 8 Mile Rd, Southfield, MI 48075
Several first-floor offices contain existing water lines.
Property Size9,600 SF
Price / SF$41.67
Days on Market89
Property Features for 18610 W 8 Mile Rd
General Information
Standard status
Active
Size
9,600 SF
Property subtype
Commercial
Building Details
Year Built
1968
Listing Agency:
Century 21 Professionals
Listed By:
Ahmed Arafa · License #6506048224
(586) 215-1208
Source:
Vmrealestatemichigan
Added: Jul 9
Changed: Oct 1
Last Checked: Oct 5 at 7:24PM
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 Century 21 Professionals
Investment Insights
Based on property information with market context.
This 9,600-square-foot office property has two floors and a separate 540-square-foot outbuilding. The first floor is arranged with multiple private offices, including several with water lines. The upper level remains unfinished and can be configured to suit a future layout; space was planned for an elevator.
Built in 1968, the property requires work and is offered in as-is condition. Major expressways and airports are described as accessible from the site.
Built in 1968, the property requires work and is offered in as-is condition. Major expressways and airports are described as accessible from the site.
Key Highlights
- 9,600‑square‑foot, two‑story office building
- Separate 540‑square‑foot outbuilding
- Multiple private offices on the first floor, several with water lines
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,048
Cap Rate
8.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$660,960
$661.0K
Cap Rate 7%
$472,114
$472.1K
Cap Rate 9%
$367,200
$367.2K
Market Conditions
NOI Build-Up for 9,600 SF
Gross rent
$57.6K $6.00/SF
− Vacancy
−$13.5K −$1.41/SF
EGI
$44.1K $4.59/SF
− OpEx
−$11.0K −$1.15/SF
NOI
$33.0K $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%
$660,960
Cap Rate 7%
$472,114
Cap Rate 9%
$367,200
Alternative Uses
Best Use
Healthcare Medical
$1.86M
$1.62M – $2.17M
NOI $129,911 @ 7.0% cap · market cap 32.48%
Second Best
Office B
$472.1K
$413.1K – $550.8K
NOI $33,048 @ 7.0% cap · market cap 8.26%
Theoretical Best
Specialty Retail
$2.07M
$1.81M – $2.42M
NOI $144,945 @ 7.0% cap · market cap 36.24%
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
914
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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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office building - Several first-floor offices contain existing water lines.
Where is this office building located?
The property is located at 18610 W 8 Mile Rd Southfield, MI.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: 9,600‑square‑foot, two‑story office building; Separate 540‑square‑foot outbuilding; Multiple private offices on the first floor, several with water lines
