Multi-Tenant Office
28588 Northwestern Hwy Southfield, MI 48034
28588 Northwestern Hwy, Southfield, MI, 48034
$6,990,000
For Sale
$6,990,000
Multi-tenant office building built in 1985 and renovated in 2025, offering 330 parking spaces including covered parking.
Property Size99,003 SF
Lot Size4.00 Acres
Price / SF$70.60
Days on Market79
Property Features for 28588 Northwestern Hwy
General Information
- Standard status
- Active
- Size
- 99,003 SF
- Lot size
- 4.00 Acres
- Property subtype
- Office
Building Details
- Year Built
- 1985
Listing agency
APEX Commercial Real Estate Advisors
(248) 579-5042
Listed by
Ayson Shammami · License #6501443637
(248) 579-5042
Source
Cpix.resimplifi
Added: May 6 Updated: Jul 22 at 8:55PM Checked: Jul 22 at 8:55PM
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 APEX Commercial Real Estate Advisors
Investment Insights
Based on property information with market context.
This multi-tenant office building was built in 1985 and renovated in 2025, bringing updated infrastructure to a suburban office setting. The property is configured for multi-tenant occupancy, with existing suite availability intended to support leasing and mark-to-market opportunities.
The building sits on a 4.0+ acre site with 330 parking spaces and covered parking, designed to provide straightforward ingress and egress. The location offers immediate access to M-10 (Lodge Freeway) and is minutes to I-696, supporting regional connectivity for employees and visitors.
With its office-oriented configuration, the property is positioned as a fit for medical and professional services as well as executive office users, supported by the scale of parking and the surrounding commercial amenities serving the workforce and corporate community.
The building sits on a 4.0+ acre site with 330 parking spaces and covered parking, designed to provide straightforward ingress and egress. The location offers immediate access to M-10 (Lodge Freeway) and is minutes to I-696, supporting regional connectivity for employees and visitors.
With its office-oriented configuration, the property is positioned as a fit for medical and professional services as well as executive office users, supported by the scale of parking and the surrounding commercial amenities serving the workforce and corporate community.
Key Highlights
- Multi‑tenant office building built in 1985 and renovated in 2025 with updated infrastructure.
- 4.0+ acre site with 330 parking spaces, including covered parking.
- Immediate access to M‑10 (Lodge Freeway) and minutes to I‑696 for regional commuter connectivity.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $594.0k | $6.00 |
| − Vacancy | −$139.6k | −$1.41 |
| EGI | $454.4k | $4.59 |
| − OpEx | −$113.6k | −$1.15 |
| NOI | $340.8k | $3.44 |
99,003 SF · lease $6.00/SF/yr · vacancy 23.50% · expense 25.00%
Alternative Uses
Best Use
Healthcare Medical
$19.14M
$16.75M – $22.33M
NOI $1,339,748 @ 7.0% cap · market cap 19.17%
Second Best
Office B
$4.87M
$4.26M – $5.68M
NOI $340,818 @ 7.0% cap · market cap 4.88%
Theoretical Best
Specialty Retail
$21.35M
$18.68M – $24.91M
NOI $1,494,787 @ 7.0% cap · market cap 21.38%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Phoenix Data Systems
(Bike/Boat/Book/etc) Store
Cofinity
Insurance Agency
Aetna
Insurance Agency
Law Office of Leon ...
Law Firm
AGRATI Southfield
Corporate Office
Similar For Sale Nearby
FAQs
What type of property is this?
Office units - Multi-tenant office building built in 1985 and renovated in 2025, offering 330 parking spaces including covered parking.
Where is this office units located?
The property is located at 28588 Northwestern Hwy Southfield, MI.
What is the asking price?
The asking price for this property is $6,990,000.
What are key features of this property?
This property features: Multi‑tenant office building built in 1985 and renovated in 2025 with updated infrastructure.; 4.0+ acre site with 330 parking spaces, including covered parking.; Immediate access to M‑10 (Lodge Freeway) and minutes to I‑696 for regional commuter connectivity.
