Southfield Office Building For
For Sale
$2,500,000
24293 Telegraph Road, Southfield, MI 48034
Office building available for purchase in Southfield, Michigan.
Property Size49,969 SF
Price / SF$58.14
Days on Market215
Property Features for 24293 Telegraph Road
General Information
Standard status
Active
Size
49,969 SF
Total Parking Spaces
134
Property subtype
Office
Zoning
I-1
Building Details
Building Size
49,969 SF
Year Built
1970
Year Renovated
2000
Listing Agency:
Friedman Real Estate
Listed By:
Dan Verderbar
(248) 330-6536
Source:
Friedmanrealestate
Added: Mar 26
Changed: Oct 26
Last Checked: Oct 24 at 2:51PM
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 Friedman Real Estate
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
A commercial property is available for sale. The property is located in Southfield, Michigan. The building is suitable for office use. The property has a size of 43000 square feet.
Key Highlights
- For sale
- Year Built: 1970
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$148,028
Cap Rate
5.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,960,560
$3.0M
Cap Rate 7%
$2,114,686
$2.1M
Cap Rate 9%
$1,644,756
$1.6M
Market Conditions
NOI Build-Up for 43,000 SF
Gross rent
$258.0K $6.00/SF
− Vacancy
−$60.6K −$1.41/SF
EGI
$197.4K $4.59/SF
− OpEx
−$49.3K −$1.15/SF
NOI
$148.0K $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 Rate 5%
$2,960,560
Cap Rate 7%
$2,114,686
Cap Rate 9%
$1,644,756
Alternative Uses
Best Use
Office B
$2.11M
$1.85M – $2.47M
NOI $148,028 @ 7.0% cap · market cap 5.92%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$9.27M
$8.12M – $10.82M
NOI $649,231 @ 7.0% cap · market cap 25.97%
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
500
Businesses Nearby
Explore this area
Business Placement
Demographics for 48034, MI
14,480
Population
8,634
Households
1.7
Avg Household Size
43
Median Age
40%
College-Educated
96%
High-School Grad
4.3 sq mi
ZIP Area
3,367
Density / Sq Mi
$59,634
Median Household Income
$40,068
Median Earnings
$1,275
Median Rent
$259,400
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 - Office building available for purchase in Southfield, Michigan.
Where is this office building located?
The property is located at 24293 Telegraph Road Southfield, MI.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: For sale; Year Built: 1970
