Office
21681 West Eleven Mile Road, Southfield, MI 48076
For Sale
New
$1,600,000
A 1968-built office property with a 2025 roof replacement and a 7.75% cap rate.
Property Size13,465 SF
Days on Market4
Property Features for 21681 West Eleven Mile Road
General Information
Standard status
Size
Class
Property subtype
Additional Details
Cap Rate
Highway Access
Property Use
Building Details
Building Size
Year Built
Listing Agency:
NAI Farbman - Corporate
Listed By:
Rick Ax · License #6506040861
(248) 842-0314
Source:
Naiglobal
Added: Nov 4
Last Checked: Nov 6 at 7:01AM
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 NAI Farbman - Corporate
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This office building at 21681 West Eleven Mile Road in Southfield was built in 1968. A new roof dates to 2025, and the property has received improvements over the past ten years. The listed cap rate is 7.75%.
Key Highlights
- 7.75% cap rate
- Office building constructed in 1968
- New roof installed in 2025
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,353
Cap Rate
2.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$927,060
$927.1K
Cap Rate 7%
$662,186
$662.2K
Cap Rate 9%
$515,033
$515.0K
Market Conditions
NOI Build-Up for 13,465 SF
Gross rent
$80.8K $6.00/SF
− Vacancy
−$19.0K −$1.41/SF
EGI
$61.8K $4.59/SF
− OpEx
−$15.5K −$1.15/SF
NOI
$46.4K $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%
$927,060
Cap Rate 7%
$662,186
Cap Rate 9%
$515,033
Alternative Uses
Best Use
Office B
$662.2K
$579.4K – $772.6K
NOI $46,353 @ 7.0% cap · market cap 2.90%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.90M
$2.54M – $3.39M
NOI $203,300 @ 7.0% cap · market cap 12.71%
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
Yes
Highway access
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
$251,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/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 - A 1968-built office property with a 2025 roof replacement and a 7.75% cap rate.
Where is this office building located?
The property is located at 21681 West Eleven Mile Road Southfield, MI.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: 7.75% cap rate; Office building constructed in 1968; New roof installed in 2025
