Single-Story Office
For Sale
Contact for pricing
24245 Karim Blvd, Novi, MI 48375
Single-story office building featuring leased space for a plastic surgery center and ample on-site parking.
Property Size8,440 SF
Price / SF$0.00
Days on Market247
Property Features for 24245 Karim Blvd
General Information
Standard status
Active
Size
8,440 SF
Property subtype
Office
Zoning
OS-1
Building Details
Building Size
8,440 SF
Stories
1
Listing Agency:
Thomas A. Duke Company
Listed By:
Mark W. Szerlag · License #6502342846
(248) 476-3700
Source:
Cpix.resimplifi
Added: Feb 17
Changed: Oct 7
Last Checked: Oct 20 at 5:21PM
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
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 single-story office building offers 18,370 SF with a currently leased 7,500 SF space operated by a plastic surgery center under a 10-year lease.
The property has frontage on 10 Mile Road and includes ample parking for occupants and visitors.
Zoning allows for various office and medical uses, providing flexibility for future tenancy and operational configurations within the office/medical category.
The property has frontage on 10 Mile Road and includes ample parking for occupants and visitors.
Zoning allows for various office and medical uses, providing flexibility for future tenancy and operational configurations within the office/medical category.
Key Highlights
- 18,370 SF single‑story office building
- Includes 7,500 SF leased to a plastic surgery center on a 10‑year lease
- Frontage on 10 Mile Road
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,055
Suggested Prices Based on Cap Rates
Cap Rate 5%
$581,100
$581.1K
Cap Rate 7%
$415,071
$415.1K
Cap Rate 9%
$322,833
$322.8K
Market Conditions
NOI Build-Up for 8,440 SF
Gross rent
$50.6K $6.00/SF
− Vacancy
−$11.9K −$1.41/SF
EGI
$38.7K $4.59/SF
− OpEx
−$9.7K −$1.15/SF
NOI
$29.1K $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%
$581,100
Cap Rate 7%
$415,071
Cap Rate 9%
$322,833
Alternative Uses
Best Use
Healthcare Medical
$1.63M
$1.43M – $1.90M
NOI $114,213 @ 7.0% cap · market cap 713,831.25%
Second Best
Office B
$415.1K
$363.2K – $484.3K
NOI $29,055 @ 7.0% cap · market cap 181,593.75%
Theoretical Best
Specialty Retail
$1.82M
$1.59M – $2.12M
NOI $127,430 @ 7.0% cap · market cap 796,437.50%
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
Location Intelligence
Trade Area within ½ mile
747
Businesses Nearby
Explore this area
Business Placement
Demographics for 48375, MI
23,237
Population
10,223
Households
2.3
Avg Household Size
40
Median Age
63%
College-Educated
98%
High-School Grad
8.4 sq mi
ZIP Area
2,766
Density / Sq Mi
$112,978
Median Household Income
$70,326
Median Earnings
$1,880
Median Rent
$348,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office building - Single-story office building featuring leased space for a plastic surgery center and ample on-site parking.
Where is this office building located?
The property is located at 24245 Karim Blvd Novi, MI.
What are key features of this property?
This property features: 18,370 SF single‑story office building; Includes 7,500 SF leased to a plastic surgery center on a 10‑year lease; Frontage on 10 Mile Road
