West Bloomfield Office Buildings For
For Sale
$1,265,350
2177 Orchard Lake Rd, Keego Harbor, MI 48320
Two office buildings with new flooring and HVAC for sale.
Property Size20,038 SF
Lot Size0.46 Acres
Days on Market254
Property Features for 2177 Orchard Lake Rd
General Information
Standard status
Active
Size
20,038 SF
Lot size
0.46 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$12,397
Building Details
Building Size
20,038 SF
Year Built
1969
Listing Agency:
(248) 789-6875
Listed By:
Joseph Z Oram
(248) 789-6875
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 8
Last Checked: Aug 8 at 12:49PM
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 Joseph Z Oram
Investment Insights
Based on property information with market context.
Two buildings totaling 9,031 square feet are available for purchase. The properties feature new flooring and HVAC systems. The two-story building, approximately 6,848 square feet, includes four restrooms, one of which has a shower. A backup generator is present in the two-story building. The single-story building is approximately 2,183 square feet and contains two restrooms, one equipped with a shower. Most offices are furnished. The buildings have new front fascia.
Key Highlights
- Two buildings totaling 9031 sqft with furnished offices
- New HVAC system
- Two‑story building includes a backup generator
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$68,981
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.45%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,379,620
$1.4M
Cap Rate 7%
$985,443
$985.4K
Cap Rate 9%
$766,456
$766.5K
Market Conditions
NOI Build-Up for 20,038 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$120.2K $6.00/SF
− Vacancy
−$28.3K −$1.41/SF
EGI
$92.0K $4.59/SF
− OpEx
−$23.0K −$1.15/SF
NOI
$69.0K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,379,620
Cap Rate 7%
$985,443
Cap Rate 9%
$766,456
Alternative Uses
Best Use
Office B
$985.4K
$862.3K – $1.15M
NOI $68,981 @ 7.0% cap · market cap 5.45%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.32M
$3.78M – $5.04M
NOI $302,542 @ 7.0% cap · market cap 23.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
625
Businesses Nearby
Explore this area
Business Placement
Demographics for 48320, MI
4,328
Population
2,269
Households
1.9
Avg Household Size
45
Median Age
48%
College-Educated
98%
High-School Grad
1.1 sq mi
ZIP Area
3,935
Density / Sq Mi
$77,700
Median Household Income
$45,978
Median Earnings
$1,153
Median Rent
$317,900
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Two office buildings with new flooring and HVAC for sale.
Where is this office building located?
The property is located at 2177 Orchard Lake Rd Keego Harbor, MI.
What is the asking price?
The asking price for this property is $1,265,350.
What are key features of this property?
This property features: Two buildings totaling 9031 sqft with furnished offices; New HVAC system; Two‑story building includes a backup generator
