Southfield Office Building For
For Sale
$625,000
24700 West Eleven Mile Road, Southfield, MI 48034
Well-maintained office building with recent upgrades and easy freeway access.
Property Size15,580 SF
Price / SF$40.12
Days on Market195
Property Features for 24700 West Eleven Mile Road
General Information
Standard status
Active
Size
15,580 SF
Property subtype
Office
Listing Agency:
CBRE | Detroit
Listed By:
Brendan George · License #6502401928
(248) 351-2039
Source:
Cbre
Added: Mar 25
Changed: Oct 1
Last Checked: Oct 5 at 4:00PM
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 CBRE | Detroit
Investment Insights
Based on property information with market context.
This well-maintained office building is ideally located with easy freeway access. Recent interior upgrades have been completed. The property is suitable for an owner-occupant. The zoning is designated for educational research. The property size is 15580 square feet.
Key Highlights
- Ideal for owner‑occupant
- Educational Research Office Zoning
- Ideally located with easy freeway access
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$53,634
Cap Rate
8.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,072,680
$1.1M
Cap Rate 7%
$766,200
$766.2K
Cap Rate 9%
$595,933
$595.9K
Market Conditions
NOI Build-Up for 15,580 SF
Gross rent
$93.5K $6.00/SF
− Vacancy
−$22.0K −$1.41/SF
EGI
$71.5K $4.59/SF
− OpEx
−$17.9K −$1.15/SF
NOI
$53.6K $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%
$1,072,680
Cap Rate 7%
$766,200
Cap Rate 9%
$595,933
Alternative Uses
Best Use
Office B
$766.2K
$670.4K – $893.9K
NOI $53,634 @ 7.0% cap · market cap 8.58%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.36M
$2.94M – $3.92M
NOI $235,233 @ 7.0% cap · market cap 37.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
474
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Well-maintained office building with recent upgrades and easy freeway access.
Where is this office building located?
The property is located at 24700 West Eleven Mile Road Southfield, MI.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Ideal for owner‑occupant; Educational Research Office Zoning; Ideally located with easy freeway access
