Custom Office Building with
For Sale
Contact for pricing
21599 W Eleven Mile Rd, Southfield, MI 48076
3,000 sq. ft. is available immediately for lease within an 8,520 sq. ft. office building.
Property Size8,520 SF
Price / SF$0.00
Days on Market229
Property Features for 21599 W Eleven Mile Rd
General Information
Standard status
Active
Size
8,520 SF
Class
C
Property subtype
Office
Zoning
OS
Building Details
Building Size
8,520 SF
Year Built
1974
Stories
1
Listing Agency:
Signature Associates - Southfield
Listed By:
Christopher J. Monsour
(248) 948-0107
Source:
Cpix.resimplifi
Added: Mar 5
Changed: Oct 9
Last Checked: Oct 19 at 3:22AM
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 Signature Associates - Southfield
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Investment Insights
Based on property information with market context.
This custom-built office property features quality office buildout and on-site management. Approximately 3,000 sq. ft. is available immediately for lease, while the entire 8,520 sq. ft. building is available for sale.
The property is located at 21599 W Eleven Mile Rd in Southfield, Michigan (48076). For buyers and tenants looking for a turnkey office environment with active on-site management, this building offers flexibility with both an available suite and full-building ownership.
The offering can be considered for leasing at the suite level or as a complete office asset, depending on your operating needs.
The property is located at 21599 W Eleven Mile Rd in Southfield, Michigan (48076). For buyers and tenants looking for a turnkey office environment with active on-site management, this building offers flexibility with both an available suite and full-building ownership.
The offering can be considered for leasing at the suite level or as a complete office asset, depending on your operating needs.
Key Highlights
- Year built: 1974
- 3,000 sq. ft. available immediately for lease
- Full 8,520 sq. ft. office building also available for sale
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,330
Suggested Prices Based on Cap Rates
Cap Rate 5%
$586,600
$586.6K
Cap Rate 7%
$419,000
$419.0K
Cap Rate 9%
$325,889
$325.9K
Market Conditions
NOI Build-Up for 8,520 SF
Gross rent
$51.1K $6.00/SF
− Vacancy
−$12.0K −$1.41/SF
EGI
$39.1K $4.59/SF
− OpEx
−$9.8K −$1.15/SF
NOI
$29.3K $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%
$586,600
Cap Rate 7%
$419,000
Cap Rate 9%
$325,889
Alternative Uses
Best Use
Office B
$419.0K
$366.6K – $488.8K
NOI $29,330 @ 7.0% cap · market cap 162,944.44%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.84M
$1.61M – $2.14M
NOI $128,638 @ 7.0% cap · market cap 714,655.56%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,291
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office building - 3,000 sq. ft. is available immediately for lease within an 8,520 sq. ft. office building.
Where is this office building located?
The property is located at 21599 W Eleven Mile Rd Southfield, MI.
What are key features of this property?
This property features: Year built: 1974; 3,000 sq. ft. available immediately for lease; Full 8,520 sq. ft. office building also available for sale
