Add Listing
    For Lease
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    23133 Orchard Lake Rd Farmington, MI

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Medical and office spaces for lease near area hospitals.

    Type:OFFICE
    Property size:
    3,450 SF
    Lot size:
    2.08 Acres
    Added:
    Mar 28, 2023
    Days on Market:
    1130
    Last Refresh:
    Apr 5 at 9:27 pm

    Property Features for 23133 Orchard Lake Rd

    General Information

    Standard status
    Active
    Size
    3,450 SF
    Lot size
    2.08 Acres
    Property subtype
    OFFICE

    Spaces For Lease

    at 23133 Orchard Lake Rd Contact us

    We can help!

    Listing Contact
    Dan Blugerman
    Dan Blugerman

    Listing agent Dan Blugerman

    Listing office PA Commercial

    Listing date Mar 28, 2023

    Source Moodyscre

    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 PA Commercial

    Overview

    Medical Office Space Available

    This property offers new medical office spaces up to 3,450 square feet, as well as existing office spaces ranging from 850 to 1,830 square feet. The building is of premium quality and features excellent parking. Building signage is available. The property is located near several area hospitals, making it a convenient location for medical professionals.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Orchard Trails Medical Medical Clinic Cataract and Eye Consultants ... Eye Care Center Steven R. Klein, ... Physician Dr. Randall T. ... Pediatrician Dr. Alan C. ... Ophthalmologist

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Daycare Center Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • AlfaVet Animal Hospital — 30332 W Nine Mile Rd, Farmington Hills, MI 48336
    • Advanced Veterinary Medical Center — 30470 Grand River Ave, Farmington Hills, MI 48336
    • Plaza Veterinary Hospital — 22820 Mooney St, Farmington, MI 48336
    • Plaza Veterinary Hospital: Adams Tracy L DVM — 22820 Mooney St, Farmington, MI 48336
    • Christian M. Ast, DVM — 22820 Mooney St, Farmington, MI 48336

    Location Insight

    • Map
    • Local Demand
    City
    Farmington
    County
    Oakland
    State
    Michigan
    Longitude
    -83.3574
    Latitude
    42.4612

    Nearby Similar for Lease

    • $1,400/Mo

      Updated Retail/Office Space Available

      Highly visible, updated retail/office suite in Farmington, Michigan.
      31822 Grand River Avenue, Farmington, MI 48336
      View Details
    • $2,000/Mo

      High-Traffic Commercial Property in Farmington

      Freestanding commercial property in high-traffic area, suitable for various uses.
      31154 Grand River Avenue, Farmington, MI 48336
      View Details
    • Contact for pricing

      Updated Retail/Office Space Available

      Highly visible, updated retail/office suite in Farmington, Michigan.
      31822 Grand River Ave, Farmington, MI 48336
      View Details
    • Contact for pricing

      Modernized Office Building For Rent

      Three-story office building with modern amenities and excellent exposure.
      32605 W 12 Mile Rd Farmington, Hills, MI 48334
      View Details
    • Contact for pricing

      Turnkey Restaurant Space in Downtown Farmington

      Fully equipped restaurant with high-end finishes and excellent visibility.
      32821 Grand River Ave, Farmington, MI 48336
      View Details
    • $7 SF/Yr

      Renovated Warehouse/Distribution Building For Lease

      Recently renovated warehouse/distribution building with close highway access.
      24601 24641 Crestview Ct, Farmington, MI
      View Details
    • Contact for pricing

      Office Space Available For Rent

      Office space available for lease in Farmington, Michigan.
      33900 Eight Mile Rd, Farmington, MI 48335
      View Details
    • Contact for pricing

      Farmington Warehouse Space for Lease

      Warehouse spaces available for lease in Farmington, Michigan.
      37849-37879 Interchange Drive, Farmington, MI 48335
      View Details
    • Contact for pricing

      Office and Retail Space Available

      Office and retail spaces with prominent signage and private entrances.
      Farmington, MI 48335
      View Details
    • Contact for pricing

      Class A Mixed-Use Building

      Class A mixed-use building with retail and office space.
      37085 Grand River Ave, Farmington, MI 48335
      View Details
    • Contact for pricing

      Orchard Lake Road Retail Space

      Retail and automotive property available for rent on Orchard Lake.
      23800 Orchard Lake Road , Farmington, MI 48336
      View Details
    • Contact for pricing

      Retail Space on Orchard Lake

      Retail units available for lease with ample parking.
      28841 28859 Orchard Lake Road, Farmington, MI
      View Details

    FAQs

    What type of property is this?
    Medical Office Space - Medical and office spaces for lease near area hospitals.
    Where is this medical office space located?
    The property is located at 23133 Orchard Lake Rd Farmington, MI.
    What is the lease rate?
    The lease rate is $22 SF/Yr.
    What are key features of this property?
    This property features: New medical office space **up to 3,450 SF**; Existing office space available (850 - 1,830 SF); **Excellent parking**
    (248) 987-5418 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Dan Blugerman
    Dan Blugerman
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!