Office Building with
New
For Sale
$950,000
30075 Greenfield Road, Southfield, MI 48076
Flexible suites support office and medical uses across a well-maintained commercial building.
Property Size8,995 SF
Price / SF$105.61
Days on Market3
Property Features for 30075 Greenfield Road
General Information
Standard status
Active
Size
8,995 SF
Class
B
Elevators
Yes
Property subtype
Office
Building Details
Building Size
8,995 SF
Year Built
2003
Buildings
1
Listing Agency:
KJ Commercial
(248) 881-4055
Listed By:
David Jappaya · License #6501416409
(248) 881-4055
Source:
Kjcre
Added: Aug 30
Changed: Aug 31
Last Checked: Aug 31 at 3:23PM
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 KJ Commercial
Investment Insights
Based on property information with market context.
Built in 2003, this 8,995-square-foot office building offers a flexible arrangement of suites for office or medical users. A large elevator connects the floors, supporting convenient movement throughout the building.
The sale also includes a 0.19-acre vacant parcel immediately north of the building. The additional land expands the property footprint and provides a separate component for future planning or site use.
The sale also includes a 0.19-acre vacant parcel immediately north of the building. The additional land expands the property footprint and provides a separate component for future planning or site use.
Key Highlights
- 8,995 SF office building constructed in 2003
- Large elevator provides access between floors
- Flexible suite configurations for office or medical users
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
$30,965
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
3.26%
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%
$619,300
$619.3K
Cap Rate 7%
$442,357
$442.4K
Cap Rate 9%
$344,056
$344.1K
Market Conditions
NOI Build-Up for 8,995 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
$54.0K $6.00/SF
− Vacancy
−$12.7K −$1.41/SF
EGI
$41.3K $4.59/SF
− OpEx
−$10.3K −$1.15/SF
NOI
$31.0K $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%
$619,300
Cap Rate 7%
$442,357
Cap Rate 9%
$344,056
Alternative Uses
Best Use
Healthcare Medical
$1.74M
$1.52M – $2.03M
NOI $121,724 @ 7.0% cap · market cap 12.81%
Second Best
Office B
$442.4K
$387.1K – $516.1K
NOI $30,965 @ 7.0% cap · market cap 3.26%
Theoretical Best
Specialty Retail
$1.94M
$1.70M – $2.26M
NOI $135,810 @ 7.0% cap · market cap 14.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,847
Businesses Nearby
Explore this area
Business Placement
Demographics for 48076, MI
26,062
Population
11,016
Households
2.4
Avg Household Size
44
Median Age
44%
College-Educated
94%
High-School Grad
7.1 sq mi
ZIP Area
3,671
Density / Sq Mi
$85,171
Median Household Income
$50,210
Median Earnings
$1,451
Median Rent
$251,300
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Flexible suites support office and medical uses across a well-maintained commercial building.
Where is this office building located?
The property is located at 30075 Greenfield Road Southfield, MI.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 8,995 SF office building constructed in 2003; Large elevator provides access between floors; Flexible suite configurations for office or medical users
