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

    24333 Southfield Rd Southfield, MI 48075

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Office property available for lease in Southfield, Michigan.

    Type:Office
    Added:
    Dec 21, 2024
    Days on Market:
    474
    Last Refresh:
    Mar 17 at 1:22 pm

    Property Features for 24333 Southfield Rd

    General Information

    Standard status
    Active
    Property subtype
    Office

    Building Details

    Year Built
    1968

    Spaces For Lease

    at 24333 Southfield Rd Contact us

    We can help!

    Listing Contact
    Aaron Smith
    Aaron Smith

    Listing agent Aaron Smith License #MI 6501377543

    Listing office L. Mason Capitani

    Listing date Dec 21, 2024

    Source Crexi

    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 L. Mason Capitani

    Overview

    Office Space For Lease

    This commercial real estate property, identified as an office space, is available for lease. The property is located on Southfield Rd in Southfield, Michigan.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Genuinely Braided LLC Hair Salon Pinnacle Mobile Phlebotomy Laboratory Joe C Painting ... Painting Service Amánti Beauty Lash ... Hair Salon

    Suggested Use

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

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

    Similar Places Nearby

    • Evolution Avs Audio Video — 17515 W Nine Mile Rd, Southfield, MI 48075
    • Tener Technologies, LLC — 18000 W Nine Mile Rd Suite 390, Southfield, MI 48075
    • Medical Software Solutions Plus, Inc. — 22842 Greenview Rd, Southfield, MI 48075
    • Motor City Woman Studios — 16000 W Nine Mile Rd, Southfield, MI 48075

    Location Insight

    • Map
    • Local Demand
    City
    Southfield
    County
    Oakland
    State
    Michigan
    Longitude
    -83.2215025
    Latitude
    42.4684118

    Nearby Similar for Lease

    • Contact for pricing

      Professional Office Suite For Rent

      Turn-key office suite with private offices, reception, and break room.
      26300 Telegraph Road, Southfield, MI 48033
      View Details
    • Contact for pricing

      Southfield Retail Space For Rent

      Commercial property in a high-traffic location, ideal for business.
      24070 W 10 MILE Road, Southfield, MI 48033
      View Details
    • Contact for pricing

      Southfield Office Suite For Rent

      Private, secure, and affordable office suite in Southfield, Michigan.
      19100 W 10 Mile Road, Southfield, MI 48075
      View Details
    • $20/mo

      Prime Southfield Road Commercial Space

      3,015 SF commercial space with high visibility and flexible zoning.
      24758 Southfield Road, Southfield, MI 48075
      View Details
    • Contact for pricing

      Southfield Retail Space For Rent

      1350 SF retail space with frontage on Telegraph Road.
      26400 Telegraph Road, Southfield, MI 48033
      View Details
    • Contact for pricing

      Southfield Office Suite For Rent

      Single room office suite in a prime Southfield location.
      29623 Northwestern Highway unit: 7, Southfield, MI 48034
      View Details
    • Contact for pricing

      Southfield Office Space on Telegraph

      6,000 SF upper-level office space on Telegraph Road.
      23455 Telegraph, Southfield, MI 48033
      View Details
    • Sponsored
      Contact for pricing

      Southfield, MI - Onyx Office Plaza

      29777 Telegraph Rd, Southfield, MI 29777
      View Details
    • Contact for pricing

      Town Center

      2000 Town Ctr, Unit 1900, Southfield, MI 48075
      View Details
    • Contact for pricing

      Freestanding Medical Building For Lease

      Freestanding medical building with five exam rooms in Southfield.
      21721 W 11 Mile, Southfield, MI 48034
      View Details
    • Contact for pricing

      Renovated Office Suite For Rent

      Recently renovated office suite with utilities included in Southfield.
      22511 Telegraph RD 22511 Telegraph Suite 220, Southfield, MI 48033
      View Details
    • $16/mo

      Class A Office Building

      Class A office building in the heart of Southfield.
      25925 Telegraph, Southfield, MI 48034
      View Details

    FAQs

    What type of property is this?
    Office property - Office property available for lease in Southfield, Michigan.
    Where is this office property located?
    The property is located at 24333 Southfield Rd Southfield, MI.
    What are key features of this property?
    This property features: For lease; YearBuilt: 1968
    (248) 637-3515 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Aaron Smith
    Aaron Smith
    Real Estate License ID: MI 6501377543
    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!