Two-Story Retail/Office
33431 Grand River Ave Farmington, MI 48335
33431 Grand River Ave, Farmington, MI, 48335
$1,740,000
For Sale
$1,740,000
Fully renovated historic building with elevator access and prime Grand River Avenue visibility in downtown Farmington.
Property Size10,138 SF
Price / SF$171.63
Days on Market47
Property Features for 33431 Grand River Ave
General Information
- Standard status
- Active
- Size
- 10,138 SF
- Property subtype
- Office
Building Details
- Year Built
- 1900
Listing Agency
(248) 476-5394
Listed by
Steve Valli
Source
Thomasduke
Added: Jun 2 Checked: Jul 15 at 1:59 pm
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 Steve Valli
Investment Insights
Based on property information with market context.
This two-story retail/office building offers a flexible configuration for single or multi-user operations. Originally built in 1900 and fully renovated in 1987, the property has been well maintained with notable capital improvements, including a new roof in 2015 and new furnaces in 2023. Elevator access serves both levels, supporting convenient customer or staff movement throughout the space. The layout can be used as one cohesive location or arranged for separate upstairs and downstairs users.
Situated in walkable downtown Farmington, the building provides Grand River Avenue frontage with excellent visibility. It is surrounded by retail and restaurants and benefits from year-round events that help support consistent downtown activity. Ample public parking is available adjacent via a city parking lot, which can be an important convenience factor for retail tenants and professional users.
Given the property’s visibility, elevator-served two-level layout, and proven adaptability, it is well suited for tenants seeking either retail, office, or a combination of both under one roof. The offering also presents a notable opportunity for buyers looking to secure a central downtown presence, particularly with no other buildings currently listed for sale in downtown Farmington.
Situated in walkable downtown Farmington, the building provides Grand River Avenue frontage with excellent visibility. It is surrounded by retail and restaurants and benefits from year-round events that help support consistent downtown activity. Ample public parking is available adjacent via a city parking lot, which can be an important convenience factor for retail tenants and professional users.
Given the property’s visibility, elevator-served two-level layout, and proven adaptability, it is well suited for tenants seeking either retail, office, or a combination of both under one roof. The offering also presents a notable opportunity for buyers looking to secure a central downtown presence, particularly with no other buildings currently listed for sale in downtown Farmington.
Key Highlights
- 10,138 SF, two‑story retail/office building built in 1900 in Downtown Farmington
- Fully renovated in 1987 with significant capital improvements, including a new roof in 2015
- New furnaces installed in 2023
Local Financial Insights For Retail
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 | $170.3k | $16.80 |
| − Vacancy | −$14.5k | −$1.43 |
| EGI | $155.8k | $15.37 |
| − OpEx | −$46.8k | −$4.61 |
| NOI | $109.1k | $10.76 |
10,138 SF · lease $16.80/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.56M
$1.36M – $1.82M
NOI $109,089 @ 7.0% cap · market cap 6.27%
Second Best
Office B
$498.6K
$436.3K – $581.7K
NOI $34,900 @ 7.0% cap · market cap 2.01%
Theoretical Best
Specialty Retail
$2.19M
$1.91M – $2.55M
NOI $153,068 @ 7.0% cap · market cap 8.80%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Focal Point Studio ...
Photography Service
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FAQs
What type of property is this?
Office building - Fully renovated historic building with elevator access and prime Grand River Avenue visibility in downtown Farmington.
Where is this office building located?
The property is located at 33431 Grand River Ave Farmington, MI.
What is the asking price?
The asking price for this property is $1,740,000.
What are key features of this property?
This property features: 10,138 SF, two‑story retail/office building built in 1900 in Downtown Farmington; Fully renovated in 1987 with significant capital improvements, including a new roof in 2015; New furnaces installed in 2023
