Southfield Office/Medical Portfolio For
For Sale
$3,250,000
21751 11 Mile Rd, Southfield, MI 48076
Five-building office/medical portfolio available in Southfield, Michigan.
Property Size31,189 SF
Price / SF$104.20
Days on Market208
Property Features for 21751 11 Mile Rd
General Information
Standard status
Active
Size
31,189 SF
Class
C
Property subtype
Office
Building Details
Building Size
31,189 SF
Year Built
1967
Listing Agency:
Thomas A. Duke Company
Listed By:
Andrew Battersby · License #6501384188
(248) 631-8085
Source:
Thomasduke
Added: Mar 26
Changed: Oct 15
Last Checked: Oct 16 at 7:48AM
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 Thomas A. Duke Company
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Investment Insights
Based on property information with market context.
A five-building office/medical portfolio is available for sale in Southfield, Michigan. The property encompasses a total size of 31189 square feet.
Key Highlights
- Five building portfolio
- Office/medical use
- Located in Southfield, MI
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$107,368
Cap Rate
3.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,147,360
$2.1M
Cap Rate 7%
$1,533,829
$1.5M
Cap Rate 9%
$1,192,978
$1.2M
Market Conditions
NOI Build-Up for 31,189 SF
Gross rent
$187.1K $6.00/SF
− Vacancy
−$44.0K −$1.41/SF
EGI
$143.2K $4.59/SF
− OpEx
−$35.8K −$1.15/SF
NOI
$107.4K $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%
$2,147,360
Cap Rate 7%
$1,533,829
Cap Rate 9%
$1,192,978
Alternative Uses
Best Use
Healthcare Medical
$6.03M
$5.28M – $7.03M
NOI $422,062 @ 7.0% cap · market cap 12.99%
Second Best
Office B
$1.53M
$1.34M – $1.79M
NOI $107,368 @ 7.0% cap · market cap 3.30%
Theoretical Best
Specialty Retail
$6.73M
$5.89M – $7.85M
NOI $470,904 @ 7.0% cap · market cap 14.49%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,291
Businesses Nearby
Under-served
Demand for This Use
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
Similar Off Market Nearby
- Greenfield Animal Hospital — 21600 W Eleven Mile Rd, Southfield, MI 48076
- Michael P. Hood, DVM — 21600 W Eleven Mile Rd, Southfield, MI 48076
- Greenfield Animal Hospital: Zerbel J DVM — 21600 W Eleven Mile Rd, Southfield, MI 48076
Frequently Asked Questions
What type of property is this?
Medical Office Space - Five-building office/medical portfolio available in Southfield, Michigan.
Where is this medical office space located?
The property is located at 21751 11 Mile Rd Southfield, MI.
What is the asking price?
The asking price for this property is $3,250,000.
What are key features of this property?
This property features: Five building portfolio; Office/medical use; Located in Southfield, MI
