Mixed-Use Building in Downtown
32821-32905 Grand River Ave, Farmington, MI 48336
For Sale
Contact for pricing
Two-story mixed-use building with restaurant and apartments in Farmington, MI.
Property Size9,584 SF
Lot Size0.76 Acres
Price / SF$313.02
Days on Market385
Property Features for 32821-32905 Grand River Ave
General Information
Standard status
Size
Class
Total Parking Spaces
Lot size
Property subtype
Zoning
Occupancy
Building Details
Year Built
Year Renovated
Buildings
Stories
Units
Tenancy
Listing Agency:
P.A. Commercial Corporate & Investment Real Estate
Listed By:
Dan Blugerman · License MI #6501181718
(248) 987-5418
Source:
Crexi
Added: Oct 22, 2025
Changed: Oct 26
Last Checked: Nov 10 at 5:57AM
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 P.A. Commercial Corporate & Investment Real Estate
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Investment Insights
Based on property information with market context.
Located in Downtown Farmington, this two-story mixed-use building offers a rare investment opportunity. Constructed in 2009 and extensively renovated in 2019, the 9,284 square-foot building includes an additional 4,294 square-foot basement. The property sits on 0.76 acres and provides modernized infrastructure, elevator access to upper-floor residences, and on-site parking for 39 vehicles. The ground floor features a fully equipped, operating restaurant with 140 indoor seats and a 32-seat patio. The restaurant includes a lower-level storage/cooler area with elevator access. The restaurant's liquor license and turnkey buildout present an ideal setup for an owner-operator or investor. The second level houses three apartments, each with private patios and individual HVAC and utilities. The apartments are fully leased and offer income upside for new ownership. This property is an approved Planned Unit Development (PUD) project that allows for Phase II expansion, with potential to add a 2–4 story mixed-use addition featuring additional apartments and first-floor retail or restaurant space.
Key Highlights
- Rare mixed‑use investment property in Downtown Farmington, a highly desirable location.
- Fully equipped, operating restaurant (Crazy Crab) with liquor license and 172 total seats (indoor and patio).
- Three fully leased apartments with individual utilities and below‑market rents, offering immediate income upside.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$144,703
Cap Rate
4.82%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,894,060
$2.9M
Cap Rate 7%
$2,067,186
$2.1M
Cap Rate 9%
$1,607,811
$1.6M
Market Conditions
NOI Build-Up for 9,584 SF
Gross rent
$207.0K $21.60/SF
− Vacancy
−$14.1K −$1.47/SF
EGI
$192.9K $20.13/SF
− OpEx
−$48.2K −$5.03/SF
NOI
$144.7K $15.10/SF
Area
Oakland County, MI
Vacancy
6.80%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,894,060
Cap Rate 7%
$2,067,186
Cap Rate 9%
$1,607,811
Alternative Uses
Best Use
Specialty Retail
$2.07M
$1.81M – $2.41M
NOI $144,703 @ 7.0% cap · market cap 4.82%
Second Best
Mixed Use
$1.39M
$1.21M – $1.62M
NOI $97,038 @ 7.0% cap · market cap 3.23%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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Current Use
Location Intelligence
Trade Area within ½ mile
877
Businesses Nearby
36k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 82%
Home Improvements & Furnishings 18%
Ollie's Bargain Outlet
Shops & Services
20,726 visits/mo
0.5 miles
BP
Shops & Services
8,783 visits/mo
0.5 miles
Alexander True Value Hardware
Home Improvements & Furnishings
6,332 visits/mo
0.5 miles
Demographics for 48336, MI
26,802
Population
12,296
Households
2.2
Avg Household Size
42
Median Age
44%
College-Educated
92%
High-School Grad
9.3 sq mi
ZIP Area
2,882
Density / Sq Mi
$85,325
Median Household Income
$54,077
Median Earnings
$1,141
Median Rent
$247,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Properties on Market for Mixed-use properties in Oakland County
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-story mixed-use building with restaurant and apartments in Farmington, MI.
Where is this mixed-use property located?
The property is located at 32821-32905 Grand River Ave Farmington, MI.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: Rare mixed‑use investment property in Downtown Farmington, a highly desirable location.; Fully equipped, operating restaurant (Crazy Crab) with liquor license and **172 total seats (indoor and patio)**.; Three fully leased apartments with individual utilities and below‑market rents, offering immediate income upside.
