Multi-Tenant Office
For Sale
$1,700,000
22777 West Eleven Mile Road, Southfield, MI 48033
Office building offering prominent road visibility and flexible options for owner-users or multiple tenants.
Property Size31,638 SF
Lot Size2.49 Acres
Price / SF$53.73
Days on Market130
Property Features for 22777 West Eleven Mile Road
General Information
Standard status
Active
Size
31,638 SF
Lot size
2.49 Acres
Property subtype
Office
Listing Agency:
Newmark Knight Frank Detroit
Listed By:
Daniel Canvasser
(248) 350-8141
Source:
Nmrk
Added: Jun 9
Changed: Oct 13
Last Checked: Oct 14 at 8:56PM
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 Newmark Knight Frank Detroit
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Investment Insights
Based on property information with market context.
The property is a 31,638 SF office building situated on 2.49 acres. It is offered for sale and presented as a value-add opportunity, suitable for either an owner-user or a multi-tenant setup.
The building features prominent signage and visibility from M-10 and Eleven Mile Road. It is also positioned close to restaurants, retail, and other services, with convenient access to downtown Detroit, Southfield, and surrounding suburbs.
For tenants and buyers, the key advantage is the ability to configure the space for different office users within a single ownership structure. The site’s visibility and established commercial surroundings support a practical office location for organizations seeking convenient access and straightforward brand exposure from major roads.
The building features prominent signage and visibility from M-10 and Eleven Mile Road. It is also positioned close to restaurants, retail, and other services, with convenient access to downtown Detroit, Southfield, and surrounding suburbs.
For tenants and buyers, the key advantage is the ability to configure the space for different office users within a single ownership structure. The site’s visibility and established commercial surroundings support a practical office location for organizations seeking convenient access and straightforward brand exposure from major roads.
Key Highlights
- 31,638 SF office building on 2.49 acres
- Prominent signage and visibility from M‑10 and 11 Mile Road
- Flexible layout for an owner‑user or multiple tenants
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$108,914
Cap Rate
6.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,178,280
$2.2M
Cap Rate 7%
$1,555,914
$1.6M
Cap Rate 9%
$1,210,156
$1.2M
Market Conditions
NOI Build-Up for 31,638 SF
Gross rent
$189.8K $6.00/SF
− Vacancy
−$44.6K −$1.41/SF
EGI
$145.2K $4.59/SF
− OpEx
−$36.3K −$1.15/SF
NOI
$108.9K $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%
$2,178,280
Cap Rate 7%
$1,555,914
Cap Rate 9%
$1,210,156
Alternative Uses
Best Use
Office B
$1.56M
$1.36M – $1.82M
NOI $108,914 @ 7.0% cap · market cap 6.41%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$6.82M
$5.97M – $7.96M
NOI $477,683 @ 7.0% cap · market cap 28.10%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
399
Businesses Nearby
Explore this area
Business Placement
Demographics for 48033, MI
17,207
Population
9,198
Households
1.9
Avg Household Size
47
Median Age
33%
College-Educated
93%
High-School Grad
9.1 sq mi
ZIP Area
1,891
Density / Sq Mi
$55,599
Median Household Income
$45,192
Median Earnings
$1,242
Median Rent
$195,100
Median Home Value
Check the figures for this property
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 - Office building offering prominent road visibility and flexible options for owner-users or multiple tenants.
Where is this office building located?
The property is located at 22777 West Eleven Mile Road Southfield, MI.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: 31,638 SF office building on 2.49 acres; Prominent signage and visibility from M‑10 and 11 Mile Road; Flexible layout for an owner‑user or multiple tenants
