Office Unit with Private
For Sale
Contact for pricing
32905 W 12 Mile Rd, Farmington Hills, MI 48334
Configured with reception, private offices, a kitchenette, and convenient access to I-696 and I-275.
Property Size990 SF
Price / SF$111.11
Days on Market164
Property Features for 32905 W 12 Mile Rd
General Information
Standard status
Active
Size
990 SF
Property subtype
OFFICE
Additional Details
Highway Access
Yes
Amenities
Reception area
Four private offices
Private in-suite restroom
Kitchenette
Listing Agency:
NAI Farbman - Corporate
(248) 353-0500
Listed By:
Aiden Bracken · License #6501465617
(248) 351-4380
Source:
Moodyscre
Added: Apr 10
Changed: Sep 16
Last Checked: Sep 19 at 8:38AM
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 - Corporate
Investment Insights
Based on property information with market context.
This 990-square-foot office unit includes a reception area, four private offices, a private in-suite restroom, and a kitchenette. The layout provides a defined professional setting for office users, with ample parking available on the property.
The property is located at 32905 W 12 Mile Rd in Farmington Hills, Michigan, with quick access to I-696 and I-275. Professional property management is in place.
The property is located at 32905 W 12 Mile Rd in Farmington Hills, Michigan, with quick access to I-696 and I-275. Professional property management is in place.
Key Highlights
- 990‑square‑foot office unit
- Reception area with four private offices
- Private in‑suite restroom and kitchenette
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
$3,408
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
3.10%
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%
$68,160
$68.2K
Cap Rate 7%
$48,686
$48.7K
Cap Rate 9%
$37,867
$37.9K
Market Conditions
NOI Build-Up for 990 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
$5.9K $6.00/SF
− Vacancy
−$1.4K −$1.41/SF
EGI
$4.5K $4.59/SF
− OpEx
−$1.1K −$1.15/SF
NOI
$3.4K $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%
$68,160
Cap Rate 7%
$48,686
Cap Rate 9%
$37,867
Alternative Uses
Best Use
Healthcare Medical
$191.4K
$167.5K – $223.3K
NOI $13,397 @ 7.0% cap · market cap 12.18%
Second Best
Office B
$48.7K
$42.6K – $56.8K
NOI $3,408 @ 7.0% cap · market cap 3.10%
Theoretical Best
Specialty Retail
$213.5K
$186.8K – $249.1K
NOI $14,947 @ 7.0% cap · market cap 13.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
770
Businesses Nearby
Explore this area
Business Placement
Demographics for 48334, MI
18,731
Population
8,528
Households
2.2
Avg Household Size
45
Median Age
59%
College-Educated
96%
High-School Grad
9.1 sq mi
ZIP Area
2,058
Density / Sq Mi
$98,937
Median Household Income
$56,067
Median Earnings
$1,511
Median Rent
$327,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office units - Configured with reception, private offices, a kitchenette, and convenient access to I-696 and I-275.
Where is this office units located?
The property is located at 32905 W 12 Mile Rd Farmington Hills, MI.
What is the asking price?
The asking price for this property is $110,000.
What are key features of this property?
This property features: 990‑square‑foot office unit; Reception area with four private offices; Private in‑suite restroom and kitchenette
