Office
For Sale
$1,100,000
33469 West 14 Mile Road Farmington, Farmington, MI 48331
Office condominium totaling 11,090 SF available for sale or lease.
Property Size11,090 SF
Price / SF$99.19
Days on Market104
Property Features for 33469 West 14 Mile Road Farmington
General Information
Standard status
Active
Size
11,090 SF
Class
B
Property subtype
Multi Tenant Office
Building Details
Building Size
11,090 SF
Properties For Sale
at 33469 West 14 Mile Road Farmington Contact us- Size
- 11,090 SF
- Lease Type
- Gross
Available Space
Listing Agency:
Farbman Group
(248) 351-4367
Listed By:
Brad Margolis · License #6501371948
(248) 351-4367
Source:
Thebrokerlist
Added: May 16
Changed: Aug 26
Last Checked: Aug 24 at 9:27PM
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 Farbman Group
Investment Insights
Based on property information with market context.
This offering includes an 11,090 SF office condominium available for sale or lease. The property is presented as office units/office space for commercial occupancy.
Located at 33469 W 14 Mile Rd in Farmington Hills, MI, the space is being marketed as a single office condominium opportunity.
The listing is available on a for-sale or for-lease basis, with the total building size identified as 11,090 SF.
Located at 33469 W 14 Mile Rd in Farmington Hills, MI, the space is being marketed as a single office condominium opportunity.
The listing is available on a for-sale or for-lease basis, with the total building size identified as 11,090 SF.
Key Highlights
- 11,090 SF office condominium available for sale or lease
- Office condo totals 11,090 SF
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
$38,177
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
3.47%
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%
$763,540
$763.5K
Cap Rate 7%
$545,386
$545.4K
Cap Rate 9%
$424,189
$424.2K
Market Conditions
NOI Build-Up for 11,090 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
$66.5K $6.00/SF
− Vacancy
−$15.6K −$1.41/SF
EGI
$50.9K $4.59/SF
− OpEx
−$12.7K −$1.15/SF
NOI
$38.2K $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%
$763,540
Cap Rate 7%
$545,386
Cap Rate 9%
$424,189
Alternative Uses
Best Use
Office B
$545.4K
$477.2K – $636.3K
NOI $38,177 @ 7.0% cap · market cap 3.47%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.39M
$2.09M – $2.79M
NOI $167,441 @ 7.0% cap · market cap 15.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
262
Businesses Nearby
Explore this area
Business Placement
Demographics for 48331, MI
22,091
Population
9,297
Households
2.4
Avg Household Size
46
Median Age
67%
College-Educated
97%
High-School Grad
9.3 sq mi
ZIP Area
2,375
Density / Sq Mi
$121,101
Median Household Income
$64,255
Median Earnings
$1,743
Median Rent
$383,200
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Office condominium totaling 11,090 SF available for sale or lease.
Where is this office units located?
The property is located at 33469 West 14 Mile Road Farmington Farmington, MI.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 11,090 SF office condominium available for sale or lease; Office condo totals 11,090 SF
