Commercial Property with Façade Grant
28728 GRAND RIVER Avenue Unit SourceFi Farmington Hills, MI 48336
28728 GRAND RIVER Avenue Unit SourceFi, Farmington Hills, MI, 48336
$500,000
For Sale
$500,000
Approved City of Farmington Hills façade improvement grant up to $30,000 for eligible exterior, signage, and curb appeal upgrades.
Property Size5,416 SF
Price / SF$92.32
Days on Market34
Property Features for 28728 GRAND RIVER Avenue Unit SourceFi
General Information
- Standard status
- Active
- Size
- 5,416 SF
- Property subtype
- Industrial
Building Details
- Year Built
- 19
Listing Agency
(586) 556-1133
Listed by
Keller Williams Lakeside
(586) 556-1133
Source
Xome
Added: Jun 15 Checked: Jul 18 at 2:13 am
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 Keller Williams Lakeside
Investment Insights
Based on property information with market context.
This property presents a strong owner-user and investment opportunity with commercial office and retail space. A key value-add component is the approval for a City of Farmington Hills façade improvement grant, which provides reimbursement up to $30,000 for eligible exterior improvements, signage, building enhancements, and curb appeal upgrades, subject to city approval and program requirements.
Located at 28728 Grand River Avenue in Farmington Hills, the property is described as highly visible with substantial frontage on a major corridor, supporting accessibility and day-to-day customer or patient-style visibility for appropriate uses. The City is also noted as receptive to multiple redevelopment and reuse concepts, including medical office, professional office, and retail.
Buyer must verify zoning, permitted uses, grant eligibility, and redevelopment opportunities with the City of Farmington Hills.
Located at 28728 Grand River Avenue in Farmington Hills, the property is described as highly visible with substantial frontage on a major corridor, supporting accessibility and day-to-day customer or patient-style visibility for appropriate uses. The City is also noted as receptive to multiple redevelopment and reuse concepts, including medical office, professional office, and retail.
Buyer must verify zoning, permitted uses, grant eligibility, and redevelopment opportunities with the City of Farmington Hills.
Key Highlights
- Commercial property at 28728 Grand River Avenue in Farmington Hills
- Approved City of Farmington Hills façade improvement grant with up to $30,000 reimbursement for eligible exterior, signage, and curb appeal upgrades (subject to City approval and program requirements)
- Lot dimensions listed as 80120
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 | $32.5k | $6.00 |
| − Vacancy | −$7.6k | −$1.41 |
| EGI | $24.9k | $4.59 |
| − OpEx | −$6.2k | −$1.15 |
| NOI | $18.6k | $3.44 |
5,416 SF · lease $6.00/SF/yr · vacancy 23.50% · expense 25.00%
Alternative Uses
Best Use
Retail
$832.5K
$728.5K – $971.3K
NOI $58,278 @ 7.0% cap · market cap 11.66%
Second Best
Office B
$266.4K
$233.1K – $310.8K
NOI $18,645 @ 7.0% cap · market cap 3.73%
Theoretical Best
Specialty Retail
$1.17M
$1.02M – $1.36M
NOI $81,773 @ 7.0% cap · market cap 16.35%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Office Units
Similar For Sale Nearby
FAQs
What type of property is this?
Office units - Approved City of Farmington Hills façade improvement grant up to $30,000 for eligible exterior, signage, and curb appeal upgrades.
Where is this office units located?
The property is located at 28728 GRAND RIVER Avenue Unit SourceFi Farmington Hills, MI.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Commercial property at 28728 Grand River Avenue in Farmington Hills; Approved City of Farmington Hills façade improvement grant with up to $30,000 reimbursement for eligible exterior, signage, and curb appeal upgrades (subject to City approval and program requirements); Lot dimensions listed as 80120
