Southfield Office Building For
For Sale
Contact for pricing
28333 Telegraph Rd, Southfield, MI 48034
Southfield office building for sale or lease opportunity.
Property Size114,397 SF
Price / SF$74.30
Days on Market463
Property Features for 28333 Telegraph Rd
General Information
Standard status
Active
Size
114,397 SF
Class
A
Property subtype
Land
Zoning
B-3
Building Details
Year Built
1972
Listing Agency:
NAI Farbman
(248) 353-0500
Listed By:
Jake Wiseman · License #6501459702
Source:
Crexi
Added: May 16, 2025
Changed: Aug 8
Last Checked: Aug 21 at 5:16AM
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 NAI Farbman
Investment Insights
Based on property information with market context.
This commercial real estate property, located at 28333 Telegraph Rd in Southfield, Michigan, is available for sale or lease. The property is situated in a Qualified Opportunity Zone. The building has a size of 114397 square feet.
Key Highlights
- Below Market Pricing
- Located in Qualified Opportunity Zone
- For Sale or Lease
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$393,812
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.63%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$7,876,240
$7.9M
Cap Rate 7%
$5,625,886
$5.6M
Cap Rate 9%
$4,375,689
$4.4M
Market Conditions
NOI Build-Up for 114,397 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$686.4K $6.00/SF
− Vacancy
−$161.3K −$1.41/SF
EGI
$525.1K $4.59/SF
− OpEx
−$131.3K −$1.15/SF
NOI
$393.8K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$7,876,240
Cap Rate 7%
$5,625,886
Cap Rate 9%
$4,375,689
Alternative Uses
Best Use
Office B
$5.63M
$4.92M – $6.56M
NOI $393,812 @ 7.0% cap · market cap 4.63%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$24.67M
$21.59M – $28.79M
NOI $1,727,212 @ 7.0% cap · market cap 20.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,212
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
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 - Southfield office building for sale or lease opportunity.
Where is this office building located?
The property is located at 28333 Telegraph Rd Southfield, MI.
What is the asking price?
The asking price for this property is $8,500,000.
What are key features of this property?
This property features: Below Market Pricing; Located in Qualified Opportunity Zone; For Sale or Lease
